Governing the Internal Audit Function in Line with GIAS – Part 1
Field: Auditing | CPE Hours: 1.5 | Delivery Method: Self Study
The concept of governance is often a challenging area for internal audit.For the first time, standards for the IA profession will include direction and responsibilities for the board.Domain III outlines several standards for the board that:
- Authorize the IA function.
- Ensure and safeguard its independence and positioning within the organization.
- Establishes the board’s responsibilities for overseeing the quality of the performance of both IA and the chief audit executive.
The new Standards emphasize that quality performance requires conformance to the Standards. Each standard within Domain III specifically identifies the responsibilities of the CAE and the board, as well as joint responsibilities.
This course will delve past the Standard requirements and examine the “how” and “what if’s” of the requirements.CAE’s and internal auditors may find that there are a multitude of concepts within this Domain that their organization’s will not or can not accept.We will discuss the concepts and evaluate the options that internal audit has in order to best comply with the elements in Domain III.
Lesson Objectives
- Evaluate Domain III – Governing the IA Function
- Examine how to implement Principle 6 – Authorized by the Board
- Standard 6.1 IA Mandate
- Standard 6.2 IA Charter
- Standard 6.3 Board and Senior Management Support
- Examine how to implement Principle 7 – Positioned Independently
- Standard 7.1 Organizational Independence
- Standard 7.2 CAE Qualifications
Field: Auditing
CPE: 1.5
Delivery Method: Self-Study
Format: Video
Your Instructor
Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive
Business Consultant, Trainer, Author
Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.
As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.
Ms. Fountain has authored three technical publications:
-Leading the Internal Audit Function
-Raise the Red Flag
-Ethics and the Internal Auditor's political dilemma
Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.
Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.