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Internal Audit Fundamental

The Institute of Internal Auditors (IIA®), USA – The Global Leader in Internal Auditing

Founded in 1941, the Institute of Internal Auditors (IIA®) is the most recognized global organization in the field of internal auditing, headquartered in Altamonte Springs, Florida, USA. With more than 185,000 members worldwide and over 160 chapters, the IIA® supports the professional community through networking, training, certification, research, career development, and professional standards.

To elevate the professionalism, capability, and credibility of internal audit functions, the IIA® has established the International Professional Practices Framework (IPPF), which includes:

The Mission and Definition of Internal Auditing

Core Principles and Code of Ethics

Standards and Implementation Guidance

Templates, tools, and practical case applications based on global best practices

Among the certifications, CIA® (Certified Internal Auditor®) is the most prestigious and globally recognized credential, empowering internal auditors to validate their expertise at an international level.

FMIT® – OFFICIAL IIA® TRAINING PARTNER IN VIETNAM

To meet the growing demand for internal audit professionals who meet international standards, FMIT® has partnered with the Institute of Internal Auditors (IIA®) to deliver the official IIA®-standard internal audit training program in Vietnam.

Unique Highlights of FMIT®’s Internal Audit Program:
Fully aligned with IIA® standards and quality-assured by IIA®'s global partner system

Integrates real-life business case studies to help learners move beyond theory and apply internal auditing effectively in their organizations

Serves as a solid foundation for pursuing the CIA® designation – the only globally recognized internal audit certification

Learn from real-world case studies – apply insights directly into your organization

Practice-oriented – not just theory but hands-on internal audit implementation

Internal auditing as a strategic partner – audit not just to inspect, but to generate real business value

FMIT® INTERNAL AUDIT PROGRAM

PRACTICAL INTERNAL AUDIT COURSE – FROM STRATEGY TO EXECUTION
This training program is designed based on real-world corporate models and successful internal audit case studies from global organizations such as Toyota, Amazon, Facebook, HSBC, and Lehman Brothers. It emphasizes not only core theoretical knowledge but also practical exercises that help learners develop strategic thinking and real-world risk governance skills.

Learners will be able to:
Develop strategic thinking for internal auditing and optimize corporate governance

Practice auditing through real-life scenarios rather than just theoretical learning

Understand how auditing can drive enterprise value and propose practical improvements

Apply advanced audit models such as COSO ERM, Risk-Based Audit, Data Analytics Audit, and Agile Audit

COURSE CONTENT – REAL-WORLD APPLICATION & CASE STUDIES

This internal audit course emphasizes strategic thinking, practical applications, and modern technologies, enabling learners to directly implement internal audit practices in their organizations. The content is built upon real case studies from major corporations and incorporates advanced models such as COSO ERM and Risk-Based Auditing.

Audit & Risk Governance Foundation – Learn the 3 Lines Model, IIA Competency Framework, COSO ERM principles, and internal controls through case studies from Enron, Lehman Brothers, and HSBC.

Audit Planning – Design strategic audit plans, assurance mapping, and real risk management at companies like Amazon and major banks using the RCM matrix to prevent fraud.

Audit Execution – Technology & Big Data – Apply AI and data analytics in internal auditing and IT security auditing through Facebook case studies, focusing on data risk detection.

Communication & Supervision – Write impactful audit reports with strategic relevance, optimize data visualization to enhance audit effectiveness.

Fraud Auditing & Financial Investigation – Apply the Fraud Triangle to conduct internal investigations and fraud audits.

WHO SHOULD ATTEND

This program is ideal for:

Internal Audit departments

Internal Control functions

Risk Management teams seeking to enhance evaluation and control improvement capabilities

Audit Committees

Organizations planning to establish an Internal Audit function

Professionals with potential to become internal auditors, aiming for CIA® certification and career advancement

TRAINING METHODOLOGY

Combines international auditing theory with real-world business context

Covers comprehensive knowledge areas in line with the IIA Global Internal Audit Competency Framework

Participants engage in hands-on exercises with real-world scenarios to deeply understand how theory translates into practice

Instructors present a structured methodology, and learners apply it to actual situations, ensuring practical problem-solving

Participants practice with a question bank to enhance situational analysis aligned with international standards and prepare for the CIA® certification exam

PROGRAM BENEFITS

After completing the course, participants will be able to:

Understand internal audit implementation based on international standards

Gain practical skills through applying audit principles in real-world contexts

Build foundational knowledge to pursue the global CIA® certification

Strengthen personal competencies and deliver value-added insights to their organizations

CERTIFICATION

Upon successful completion of the program and final assessment, participants will be awarded the "Certified Internal Audit Professional" certificate by FMIT®.

COURSE CONTENT

MODULE	DETAILED CONTENT
Chapter 1: Foundations of Internal Auditing	The Mission of Internal Auditing Maturity Levels of Risk Governance Systems Nature of Internal Audit Activities Governance, Risk, and Control (GRC) GRC Relationships and Stakeholder Responsibilities Three Lines Model International Professional Practices Framework (IPPF) Core Principles IIA’s Definition of Internal Auditing Internal Audit Charter and Its Components Internal Audit Competency Framework Assurance and Consulting Services Code of Ethics Independence and Objectivity Quality Assurance and Improvement Program (QAIP) KPIs for Internal Audit Internal Audit Staffing and Structure Internal Audit Operational Guidelines
Chapter 2: Governance, Risk, and Control	Organizational Governance Governance Principles and Applications Case Study 1: Governance Principle Assessment at USI and YMI COSO ERM Risk Governance Framework Components and Principles of COSO Risk Governance Risk Governance Framework Evaluation Case Study 2: Risk System Maturity Assessment Key Concepts and Fundamentals of Risk Risk Identification, Assessment, and Response Internal Controls COSO Integrated Internal Control Framework Control Environment Types of Controls Control Loops
Chapter 3: Annual Audit Planning	Annual Audit Planning Process Defining the Audit Universe Risk-Based Audit Planning Approach Audit Risk Model Criteria for Developing the Annual Audit Plan Audit Prioritization Assurance Mapping Annual Audit Plan Development Case Study 3: Designing the Internal Audit Master Plan Types of Assurance Engagements Types of Consulting Services
Chapter 4: Engagement-Level Audit Planning	Detailed Audit Planning Process Conducting Preliminary Information Gathering Purpose and Organization of the Risk Control Matrix (RCM) Risk and Control Assessment RCM Development Across Business Areas Case Study 4: Building a Risk Control Matrix (RCM) Audit Objectives and Scope Selection of Audit Criteria Developing the Work Program Case Study 5: Creating an Audit Work Program Resource Allocation and Audit Planning Project Management in Audit Program Execution Audit Time and Budget Planning
Chapter 5: Audit Execution	Information Collection and Data Analysis Nature of Audit Evidence Case Study 6: Evaluating Audit Evidence Audit Information Gathering Techniques Audit Procedure Development Sampling Techniques Sampling Methods Applying Statistics in Auditing Measures of Central Tendency: Mean, Median, Mode, Standard Deviation, Confidence Level Statistical Planning in Auditing Case Study 7: Using Statistics to Test Control Effectiveness Analytical Techniques in Auditing Using Computer-Assisted Audit Tools (CAATs) Case Study 8: Evaluating Vendor Selection, Contract Management, IT Systems, and Payment Processes
Chapter 6: Communication & Supervision	Communication with Audit Clients Preliminary Communications and Applications Observations and Recommendations Criteria for Observations and Recommendations Audit Opinions and Conclusions Case Study 9: Writing Conclusions, Recommendations, and Audit Reports Communicating Audit Results Elements and Quality of Communication Audit Report Writing Techniques Report Review and Approval Handling Errors and Omissions Issuing the Final Report Exit Conference Case Study 10: Communicating Audit Findings Follow-up and Monitoring of Audit Results Discontinuing Monitoring
Chapter 7: Fraud Risk Management	Fraud and Fraud Risk Fraud Triangle Types of Fraud Indicators Organization-Wide Fraud Management Program Controls for Fraud Prevention and Detection Fraud Investigation Planning Fraud Reporting and Communication Case Study 11: Fraud Risk Assessment Practicce
Chapter 8: Performance, Operational, and Quality Auditing	Organizational Objectives Performance Evaluation Systems Integrated Evaluation Models Common KPIs Across Functional Areas Balanced Scorecard and KPIs Effective Performance Management Techniques Supervision Job Design Management and Leadership Mentoring and Coaching Organizational Behavior Motivation and Needs Theories Reward Systems Quality Auditing Dimensions of Quality Total Quality Management (TQM) Continuous Improvement Quality Tools
Chapter 9: IT, Security, and Privacy Auditing	Information System Architecture Hardware, Software, and Network Infrastructure IT Control Frameworks Disaster Recovery Planning Information and Cybersecurity Authentication, Authorization, and Encryption Data Protection Data Privacy Controls
Chapter 10: Internal Accounting Auditing	Finance, Financial Accounting, and Managerial Accounting Cost Management Cost Analysis Costing Systems Relevant Costs and Decision-Making Budgeting Techniques Financial Statement Analysis

Other courses same topics

Currently, all Internal Audit training programs at FMIT® Institute are conducted in Vietnamese.

If you are interested, please switch the website to Vietnamese (top-right corner of the page) to view detailed schedules and course information.

If you need further assistance, feel free to contact us:

FMIT INSTITUTE

FMIT^® Institute – 5th Floor, 126 Nguyen Thi Minh Khai Street, District 3, Ho Chi Minh City.

Tel: (028) 3930 1724 | Fax: (028) 3930 1725
Hotline: 0708 25 99 25

FMIT^® Representative Office in Hanoi – 7th Floor, 18 Ly Thuong Kiet Street, Hoan Kiem District, Hanoi.

Hotline: 093 848 6939
Email: info@fmit.vn - Website: www.fmit.vn

1. WHAT IS THE DIFFERENCE BETWEEN INTERNAL AUDIT AND INTERNAL CONTROL?

Internal Audit is an objective independent assessment to management system to review the compliance and suitability for proposing system improvement. Person who implements the internal audit activities is called internal auditor. The role of internal audit is to advise, propose, and evaluate, but not to participate in the process of building the internal control system. However, to complete its roles, internal audit needs to understand the management system and the internal control system.
Internal Control is a system designed to reduce the risk to the management system and help the organization achieve its objectives. Building an internal control system is the responsibility of the CEO, department heads, and all employees in the organization. Internal control is indispensable in all organizations at any scales. Building internal control systems should be based on specific principles and methods.
Many organizations usually confuse the person performing the internal control and the internal control system, that’s why they often form overlapping and ineffective positions. Organizations need to review their organizational models to sort out logically and promote the role of internal control.

2. WHY DO WE NEED TO HAVE AN INTERNAL AUDIT DEPARTMENT?

To manage and control organization, besides head of production, service, sale departments… are responsible for controlling their work, there are also departments related to quality, safety, finance, compliance… to support the policies, procedures to enhance the professionalism. These departments work together to build an internal control system and are used as an indispensable tool in the organization. These departments are under the control and management of the company’s CEO.

However, to ensure the transparency, professionalism and clarity in the internal control system, the Internal Audit Department is set up to evaluate independently and objectively. The internal control system is developed by CEOs and departments. This assessment is to check compliance, review weaknesses, hazards, and propose improvements.

Currently, internal audit is viewed by large corporations as an effective tool to prevent misconduct and provide a rational basis for organizational development.

3. WHAT KNOWLEDGE AN INTERNAL AUDITOR SHOULD BE EQUIPPED WITH?

Internal Auditor means Assessement. Audit, however, cannot be understood in the narrow sense of the term as the assessement of financial accouting. It should be understood as the assessment of whole management system including manufacturing, finance, compliance, security, information…

Modern internal auditors should be equipped with full knowledge of the management system, not onle with the accounting and finance. The knowledge required by the internal auditor should be consistent with the management method that the organization is using.

4. WHAT IS THE DIFFERENCE IN THE MANAGEMENT SYSTEM OF GROUPS OR LARGE COPORATION?

In many groups and large corporations, they often have to apply governance standards to solve organizational problems because of the complexity and many constraints of their work. Governance standards differ from managing emotionally or by experience.

In order to properly and adequately perform the role of internal audit in large corporations, the Internal Auditor should be familiar with international standards of governance which are popular in the world, then make the foundation and basis to understand the organization and make appropriate improvement.

5. WHAT ARE THE DIFFERENCES OF THE COURSE INTERNAL AUDIT FUNDAMENTALS AT FMIT INSTITUTE?

The course “Internal Audit Fundamentals” at FMIT Institue is built on a foundation of courses in collaboration with the Institute of Internal Auditors (IIA), USA. The subjects in Internal Audit Fundamentals are the synthesized international standards. The Internal Auditors have opportunities to systematically approach management standards all over the world to shape and develop their capacity systematically.

6. WHY HAVE TO MANAGE BY A SYSTEM, NOT BY EXPERIENCE?

Management by experience is only appropriate for small organizations whose managers are familiar with their job. However, at present, the speed of change of society is faster so management by experience will put pressure on the manager which will lead to many mistakes, and decision-making confusion. Managing by building a professional system will help managers become more proactive and professional, reduce wrong decisions and increase collaboration in the organization.

7. WHY MUST INTERNAL AUDIT UNDERSTAND THE MANAGEMENT SYSTEM BASED ON GLOBAL STANDARDS?

With the trend of using assessment/ internal audit as a tool to increase the efficiency and transparency in goups and public corporation, the role and the work of internal auditor become more and more important.

Internal auditors need equipping their knowledge with global standards to have a basis for benchmarking when make assessment and improve management system. The global standards are an important and indispensable measure for the ones who performs the internal audit work to propose and improve the organization.

8. WHO ATTENDED THE COURSE INTERNAL AUDIT FUNDAMENTALS AT FMIT?

There are hundreds of companies, small and large corporations have experienced the course at FMIT^® (You can get more information at the customer lists at website www.fmit.vn).

Vinh Danh

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Account name: FMIT International Consulting Training Corporation
Account number: 060.119.856.461
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Tel: (028) 3930 1724 - (028) 3930 1725 - (028) 3930 1726
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PMI^®, PMP^®, Project Management Professional, PMI-RMP^®, PMBOK^® and the PMI^® Registered Education Provider logo are registered marks of the Project Management Institute, Inc.

FMIT^® Institute – 5th Floor, 126 Nguyen Thi Minh Khai Street, District 3, Ho Chi Minh City.

FMIT^® Representative Office in Hanoi – 7th Floor, 18 Ly Thuong Kiet Street, Hoan Kiem District, Hanoi.

Tel: (028) 3930 1724 | Fax: (028) 3930 1725 | Hotline: 0708 25 99 25 (HCM) – 093 848 6939 (HN)

Email: info@fmit.vn - Website: www.fmit.vn

Courses

Internal Audit Fundamental

The Institute of Internal Auditors (IIA®), USA – The Global Leader in Internal Auditing

FMIT® – OFFICIAL IIA® TRAINING PARTNER IN VIETNAM

FMIT® INTERNAL AUDIT PROGRAM

COURSE CONTENT – REAL-WORLD APPLICATION & CASE STUDIES

WHO SHOULD ATTEND

TRAINING METHODOLOGY

PROGRAM BENEFITS

CERTIFICATION

COURSE CONTENT

Other courses same topics

Other courses same topics

1. WHAT IS THE DIFFERENCE BETWEEN INTERNAL AUDIT AND INTERNAL CONTROL?

2. WHY DO WE NEED TO HAVE AN INTERNAL AUDIT DEPARTMENT?

3. WHAT KNOWLEDGE AN INTERNAL AUDITOR SHOULD BE EQUIPPED WITH?

4. WHAT IS THE DIFFERENCE IN THE MANAGEMENT SYSTEM OF GROUPS OR LARGE COPORATION?

5. WHAT ARE THE DIFFERENCES OF THE COURSE INTERNAL AUDIT FUNDAMENTALS AT FMIT INSTITUTE?

6. WHY HAVE TO MANAGE BY A SYSTEM, NOT BY EXPERIENCE?

7. WHY MUST INTERNAL AUDIT UNDERSTAND THE MANAGEMENT SYSTEM BASED ON GLOBAL STANDARDS?

8. WHO ATTENDED THE COURSE INTERNAL AUDIT FUNDAMENTALS AT FMIT?

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