Internal Audit and Control in financial institutions (3 months)

Internal Audit and Control in financial institutions (3 months)

TARGET GROUP

The course is designed for employees working in the following departments of a financial institution: internal audit, internal control, credit review, compliance, risk management, governance. Moreover, the program is designed for all other interested individuals willing to enhance and improve their skills in the above mentioned fields of activity.

CONTENT

INTERNAL AUDIT AND CORPORATE GOVERNANCE

  • Corporate Governance Perspectives
  • Positioning the Internal Audit in Corporate Governance
  • Internal Audit vs. External Audit
  • Definition of Internal Auditing
  • Internal Audit Activities in Banking Sector
  • Key features of the internal audit function
  • Short history of the internal audit profession in Romania

RISK MANAGEMENT

  • What is risk?
  • Types of risks in banking sector
  • Mitigation of risks through control activities
  • Risk appetite
  • Risk management
  • The Internal Audit Role in Risk Management

THE SETUP FOR INTERNAL AUDIT PROFESSION IN BANKING SECTOR

  • Legal framework of internal audit activity in banking sector
  • The International Professional Practices Framework
  • Responsibilities of internal audit
  • Responsibilities of Chief Executive Officer
  • Audit Committee
  • The relationship of the supervisory authority with the internal audit function
  • The relationship between internal audit function and external auditors

AUDIT FIELD WORK

  • Assurance Engagements vs. Consulting Engagements
  • Types of Internal Audit Engagements
  • Overview of the Assurance Engagement Process
  • Risk Based Audit
  • Audit Tests/ Specific Tools to Gather Evidence
  • Quality Assurance and Improvement Program

INTERNAL CONTROL

  • Internal control vs. internal audit
  • Organizational framework of internal control – COSO Model and the Three Lines of Defense Model
  • Internal Control Roles and Responsibilities
  • Internal Control Self-Assessment

FRAUD

  • Types of Fraud
  • The Fraud Triangle
  • Internal Audit Role in Prevention, Detection and Investigation of Fraud
  • The corporate fraud policy

CHALLENGES FOR THE INTERNAL AUDIT PROFESSION

  • Computer Assisted Audit Tools
  • Continuous Auditing

PERIOD

3 months (March – June 2019)

The course include two study periods:

– The individual training period consists of deepening the theoretical knowledge included in the course materials and the bibliography attached thereto. Materials will be sent electronically at the beginning of the training. During the individual training, students can ask the course organizer questions about the content of the materials studied. The answers to the questions will be provided by the lecturer during the course.

 The class training period (1-2 days, depending on the course), according to a preset schedule, is the actual delivery of the course by the lecturer (deepening the theoretical notions, case studies, examples, simulations, etc.) and evaluation of knowledge throughout and at the end of the course.

The necessary registration documents:

Registration form, copy of ID card, copy of baccalaureate/bachelor degree.Participants will receive at the end of the course a certificate of graduation.

Last date of registration is March 4, 2019.

The launch of the course will be on March, 2019.

For more information regarding the programme and attendance procedures, please contact us at e-mail: roxana.ivan@ibr-rbi.ro; id@ibr-rbi.ro; tel. no.: 0372.394.453, 0748.886.839.

 

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