Module Outlines

Module 1: Risk Based Internal Auditing

This module aims to equip candidates with the technical skills and knowledge to undertake a risk based internal audit according to internationally accepted professional standards. The International Professional Practices Framework (IPPF) and incorporated Code of Ethics will be used to guide candidates as they critically evaluate their current practice and improve the quality of their audit work. This module is the entry point to the GradCertIA course and must be completed as a pre-requisite for enrolment in further modules.

This module will cover the following major topics:

  • International Professional Practices Framework (IPPF)
  • Governance, risk management and control
  • Planning and performing the engagement
  • Communicating results and monitoring progress
  • Quality and control
  • Managing internal audit activity engagements

Module 2: Legal and Regulatory Environment

This module aims to develop candidate knowledge and understanding of the broader environment (legal, regulatory and economic) in which Australian organisations operate and make decisions. The risk of fraud and ethical issues will also be covered.

The legal, regulatory and trading (economic) environment is complex and can include traversing through trade legislation and regulations, labour laws, copyright, privacy and cyber laws, civil and penal laws, taxation schemes, contract law as well as the nature and laws of legal evidence.

This module will cover the following major topics:

  • Ethics, ethical organisations and evaluating ethics
  • Legal and Regulatory Environment, including governance, the mandate for Internal Audit’s role, compliance mapping and assurance mapping
  • Economic Environment, including the role of Government, macroeconomic issues and implications for Internal Audit
  • Fraud risk, prevention and investigation

Module 3: Organisational Systems & Processes

Covering key knowledge areas of the internal auditor competency framework, this module aims to build candidates’ knowledge and understanding of the systems and processes used to manage an effective business.

The principles of the key financial statements and how they relate to each other are covered, including the different terminology organisations use for these (ie, Profit and Loss, Balance Sheet, Cash Flow and Changes in Equity). Numbers tell a story and internal audit uses trend and ratio analysis to provide data from which to further investigate.

The module will also focus on IT systems management and the integration of general controls effecting applications and business processes with effective information management controls.

This module will cover the following major topics:

  • Financial management and accounting
  • Analysis and interpretation of financial statements
  • Accrual accounting
  • Accounting for management
  • The IT environment and governance
  • Auditing IT projects
  • IT security
  • Business continuity management

Module 4: Professional in Practice

Professional in Practice is the capstone program of the Graduate Certificate in Internal Auditing. As such, it aims to provide opportunities for candidates to demonstrate the application of knowledge and skills that will enable them to make high level, independent judgements in planning, conducting and evaluating an internal audit in accordance with the IPPF.

Drawing on the three previous modules, this module will focus on the non-technical skills that will enable candidates to lead and effect change, and communicate and influence all levels of the organisation. Candidates will have the opportunity to consolidate and synthesise their knowledge, develop their problem solving skills and manage a value-adding internal audit program.

This module will cover the following major topics:

  • Influence and communication
  • Leadership and teamwork
  • Conflict resolution and negotiation
  • Change management
  • Capstone study cases