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Required Training, Education, & Certification for Internal Auditor Development

Required Training, Education, & Certification for Internal Auditor Development

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This ‘short-stay syndrome’ results because organizations view internal audit as an ideal place to train managers. There are many who do not view internal audit as a career in its own right and, for example, trainee accountants may wish to return to main line accountancy after a spell in audit.
This ‘short-stay syndrome’ results because organizations view internal audit as an ideal place to train managers. There are many who do not view internal audit as a career in its own right and, for example, trainee accountants may wish to return to main line accountancy after a spell in audit.

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Categories:Types, Business/Law
Published by: Dr.Mohammad Wahid Abdullah Khan on Jul 02, 2013
Copyright:Attribution Non-commercial

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Required Training, education, & certification for internal auditor development
Summary:
The professional level builds on and extends the subjects that are covered atpractitioner stage. As well as internal auditing topics, there is coverage of financial andgeneral management, information systems and a new module dedicated to the topic ofcorporate governance and risk management. The advanced internal auditing paper is basedaround a case study that is available before the examination date, so reflecting the growingtrend towards more practical work.Training is an important aspect of developing internal auditors, and has to be carefullyplanned in line with a career developmental programme. The year 2002 saw the introductionof a new syllabus for the IIA. UK & Ireland that sought a wider coverage of the audit worldand related areasTraining & education more necessary for an internal auditors development in specificrequirements, huge number of benefits will be include in internal audit training & educationfor development of materials appropriate to an business sector; sensitive information can beused as real-lifeAccounting is the business function of recording and reporting financial information forinternal or external users. Audits are the business function of reviewing accountinginformation to determine how well the company adheres to specific guidelines. Externalaudits are usually conducted by public accounting firms or individual certified publicaccountants (CPA). This type of audit is specifically designed for external users of thecompany's financial information. Internal audits are usually conducted by the company'saccounting staff for management review.Internal audit training and development is the process of developing the skills and methodsused by companies to train accounting employees on internal audits. Internal audits test theinternal controls used to protect financial information or to review specific accountingfunctions for material weaknessesAuditors will be trained on why this manual is important and how the auditors should applythe audit manual standards to the company's accounting information. Internal auditors maysuggest additions to the audit manual once they have conducted an internal audit to improvethe company's internal audit process.Also internal auditors do not need to hold professional certification or licenses to conductinternal audits. Internal auditors trained in universal audit practices or developed to audit acompany's accounting information are usually well equipped to conduct internal audits.Audit training and development program consists of several components:Like (Education- cross training –job shadowing, certification incentive,-placement, &challenging curriculum)IIA overview (Training & education for internal auditor’s development)
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As the leading educator for the internal audit profession, The IIA provides two levels ofqualification, the practitioner level (PIIA) and the more advanced Professional level (MIIA).The professional level builds on and extends the subjects that are covered at practitionerstage. As well as internal auditing topics, there is coverage of financial and generalmanagement, information systems and a new module dedicated to the topic of corporategovernance and risk managementThe IIA. UK &Ireland have developed a certificate in Corporate Governance and RiskManagement. As well as formal qualifications, there is an entire spectrum of developingpeople at work that includes:• Training—programmed for getting people to learn to do things differently.Development—untaught activity to increase/improve performance.• Education—formal courses to develop knowledge and qualifications.• Learning—acquiring better skills, knowledge and attitudes.There are various ways that audit staff may be trained and developedThe IIA helps internal auditors reach their full potential and achieve professional success.So a top quality internal audit training delivered by leading specialist trainers at competitiveprices. A internal auditor to be ensure that he /her get the opportunity to discuss theirpersonal requirements with the tutor and receive individual attentionTraining is part of the managerial process and as such forms only one constituent of theoverall system of human resource management. It cannot be seen in isolation from the othertechniques for developing audit staff. Not all auditors remain in the audit shop for longperiods of time. This ‘short-stay syndrome’ results because organizations view internal auditas an ideal place to train managers. There are many who do not view internal audit as acareer in its own right and, for example, trainee accountants may wish to return to main lineaccountancy after a spell in audit.This poses a problem in that extensive training is lost on audit staff that will not remainwith the department for long. All staff should be developed and those who may wisheventually to leave auditing will simply be replaced by other auditors. Vacancies createscope for internal promotions for auditors who excel via their development programmers.
James C. Key, CIA
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- is the principal partner of the Shenandoah Group, a consulting firm focused on risk management, controls, and governance solutions. Previously, Key served as the director of internal audit for IBM Corporation, where he oversaw audit operations in North America and Asia Pacific. He was also responsible for global audit training and development. Over the course of his career, Key has consulted on risk and audit issues,conducted training, and facilitated workshops around the world for clients in business, government, education, and health care. Key is the organizing director for Coastal Banking 
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