Apprenticeship training course

Internal audit practitioner (level 4)

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Information about Internal audit practitioner (level 4)

Checking an organisation's records and procedures to make sure they are accurate and reliable.

• Knowledge, skills and behaviours:
  View knowledge, skills and behaviours

  Knowledge

  • IAPracs will understand the internal (operational transactions of the organisation/business area being audited) and external (political, commercial, economic, social, cultural, technological, legislative, environmental) environment of the organisation being audited.
  • IAPracs will demonstrate an awareness of the characteristics of good corporate governance and risk management, and the role of Internal Audit, and will be able to assess the contribution they make to organisational effectiveness and assurance. IAPracs will be expected to work with IAProfs in the audit of more complex topics, e.g. culture, risk management, strategy, fraud prevention.
  • IAPracs will have an understanding of their organisation’s strategy and success measures, and be cognisant of how their work contributes to the success of the function/organisation’s industry. They will also understand the risk and control implications of different organisational structures, business processes and IT Systems, and how these relate to specific audit work. IAPracs will know where to find relevant internal policy, processes and standards relevant to business area being audited and external regulation/legislation which might impact the organisation.
  • IAPracs will know the different types of controls, management control techniques, and internal control framework characteristics (e.g. Committee Organisations Sponsoring Treadway Commission (COSO), International Standards Organisation (ISO), Control Objectives for Information & Related Technologies (COBIT)) used within their organisation and industry. IAPracs will demonstrate an understanding of how to apply internal auditing methodologies and standards throughout all stages of an internal audit assignment and will contribute to changes/updates to the Internal Audit manual based on internal audits undertaken and on an appreciation of what is and isn’t working for the organisation.

  Skills

  • IAPracs will build sustainable relationships based on trust and respect, within their function and with stakeholders, on an audit by audit basis. This will drive two-way communication with the business being audited to inform the audit plan, support plan changes and aid Internal Audit’s understanding of the risk profile of the business, how the policy, processes and standards in an organisation are being applied by the business as detailed during process mapping, i.e. the walkthrough process.
  • IAPracs will communicate clearly and succinctly both verbally and in writing. IAPracs will adapt their communication style to suit different situations. IAPracs will promote open communication, demonstrating the ability to apply appropriate interview techniques during delivery of their audit work and effectively articulating findings to IAProfs. IAPracs will be able to effectively contribute to meetings.
  • IAPracs will collaborate effectively with other audit colleagues to gain understanding and insights to inform audits and gather data to deliver results, and will be team players.
  • With guidance, IAPracs will select and use tools/techniques to obtain relevant data/information for specific audit assignments. IAPracs will apply sampling, data analysis and other statistical techniques to analyse and assess data and draw preliminary conclusions.
  • IAPracs will manage their time effectively to deliver high quality work within appropriate timelines to deliver their audit assignments and other work requirements.
  • IAPracs will be proficient in the use appropriate business systems and software e.g. sending emails, using word processing and spreadsheet software, documenting workpapers using organisation’s appropriate audit systems etc.

  Behaviours

  • IAPracs will act with integrity to their profession and the ethical code of conduct of their organisation/auditee, will demonstrate organisational values in how they work, and will demonstrate confidentiality, independence and objectivity.
  • IAPracs will add value to the organisation/department they are auditing by proactively sharing issues identified during the course of their audit work with their line manager. IAPracs will support the continuous improvement of the risk and control environment of the organisation/business being audited by suggesting new ideas.
  • IAPracs will take responsibility for their own professional development by seeking out opportunities to learn and grow.
  • IAPracs will demonstrate drive and energy to get the job done and an open mindset in all their audit work, able to adapt in changing circumstances.
  • IAPracs will demonstrate an attitude that includes a questioning mind and being alert to conditions that may indicate possible misstatement of information due to error or fraud. IAPracs will be able to speak out courageously in their own organisation.
• Apprenticeship category (sector): Legal, finance and accounting
• Qualification level: 4; Equal to higher national certificate (HNC)
• Course duration: 18 months
• Maximum funding: £9,000 ; Maximum government funding for ; apprenticeship training and assessment costs.

View more information about Internal audit practitioner (level 4) from the Institute for Apprenticeships and Technical Education.