CIA Part 2 – Practice of Internal Auditing

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About Course

100 questions | 2.0 Hours (120 minutes)

The CIA exam Part 2 includes four domains focused on managing the internal audit activity, planning the engagement, performing the engagement, and communicating engagement results and monitoring progress. Part 2 tests candidates’ knowledge, skills, and abilities particularly related to Performance Standards (series 2000, 2200, 2300, 2400, 2500, and 2600) and current internal audit practices.​

Course Content

Welcome & Introduction

  • Dear Future CIA
    00:00
  • I am Certified
    00:00
  • Learning objectives and outcome
    00:00
  • Personal Exam strategy
    00:00
  • Study Materials and Resources
    00:00
  • Interactive Learning Activities
    00:00

Section I: Managing the Internal Audit Activity (20%)​
This module equips you with the skills needed to effectively manage an internal audit function. You'll learn about the strategic role of internal auditing in alignment with organizational objectives. Additionally, you'll delve into audit planning, including the development of risk-based audit plans and the allocation of resources to optimize audit effectiveness. Coordination with other assurance providers and external auditors is also covered to enhance audit outcomes.

Section II: Planning the Engagement (20%)​
In this module, you'll learn the essential steps for planning individual audit engagements. Starting with a preliminary survey to understand the audit area, you'll move on to risk assessment, identifying and evaluating risks relevant to the engagement. The module also covers defining clear and achievable audit objectives, as well as determining the scope of the audit to ensure focused and effective coverage.

Section III: Performing the Engagement (40%)
Here, you'll master the techniques and procedures for conducting audit engagements. This includes fieldwork, where you'll gather and analyze evidence through various methods such as interviews, observations, and testing. Data analysis techniques, including data analytics, will be explored to identify trends and anomalies. Proper documentation of audit procedures and supervision of audit team members are also emphasized for maintaining quality and adherence to standards.

Section IV: Communicating Engagement Results and Monitoring Progress (20%)
You'll learn to write clear, concise, and impactful audit reports that address key findings and recommendations, enhancing your oral presentation skills to engage management and stakeholders effectively. Additionally, you'll explore follow-up procedures, including recommendation tracking and continuous improvement strategies. Utilizing feedback from follow-up activities, you'll improve future audits and audit processes, while also implementing reporting mechanisms to provide regular updates to senior management and the audit committee.

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