Global Practice Guide: Internal Auditing and Fraud, 3rd Edition - eBook

Using third parties invariably presents a variety of risks for organizations, including strategic, reputational, regulatory, operational, financial, transactional, security, compliance, and other risks. However, when utilized effectively, third parties can also provide tremendous value in terms of specialized knowledge, increased capacity, reduced overhead, and more customized business solutions. Internal audit should be at the front of managing the risks associated with third parties by independently reviewing, evaluating, and reporting on the related business practices. This course provides an overview on third-party risk management, including governance structure and risk management processes. It also specifies contracting, monitoring, and contract termination elements of the third-party relationship. Finally, the content defines the role of internal audit as it relates to various phases of the third-party management audit engagement, including planning, defining scope and objectives, testing, and reporting.

The primary focus of this course is to provide you with an overview of assurance engagement communications.

The internal audit activity is responsible for assessing the organization’s risk management processes and their effectiveness, and one detail that cannot be overlooked is assessing the potential for the occurrence of fraud when planning each engagement.

The primary focus of this course is to provide you with an overview of best practices and strategies for internal audit reports.