Foundational Course for Internal Auditors

This program will teach internal auditors the technical skills that will help them cope with the requirements of their role and accelerate their professional growth.  It will provide the auditors a good foundation to develop their proficiency in the conduct of the various phases of the risk based internal auditing process to deliver more value-added services to management and stakeholders.

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              I.        Enhancing organizational value through internal audit

1. The governance framework
2. The role of internal auditing
3. The risk based audit plan

            II.        Planning the individual audit engagement

1. Defining the clear roles and responsibilities

Conducting the initial study and entrance meeting

1. Understanding the process through a preliminary survey (i.e. flowcharts, interview, walkthrough)
2. Conducting engagement risk assessment (i.e. risk and control matrix)
3. Defining audit objectives, scope and resources
4. Crafting test scripts, work procedures and selecting credible samples
5. Completing the engagement plan

           III.         Conducting an audit

1. Documenting information through the workpapers
2. Gathering, validating and analyzing evidence
3. Developing findings and conclusions

          IV.        Reporting and monitoring the results of an audit

1. Preparing information status update
2. Preparing persuasive written report
3. Presenting to win
4. Monitoring of issues and action plans

            V.         Self- Assessment

POL B. MIRAFUENTES, CPA, CIA

Pol has more than 25 years professional work experience, mainly in the power and energy industry, with extensive exposure in internal auditing, planning and budgeting, and financial analysis. He has also taught several subjects in the CIA review program, in-house training, and public-run seminars.

He previously served the professional organization, Institute of Internal Auditors Philippines (IIAP) from 2010 to 2014, in various capacities such as Chairman of the Professional Development Committee, Chairman of Technical Standards and Research Committee, and Chief Operating Officer. In January 2015, Pol, together with some colleagues, established Center for Internal Advisory Services Philippines Incorporated (CIASP) and envisioned it to be a platform for internal audit services. Since then, CIASP has worked with a number of private corporations, government agencies, professional and non-profit organizations to deliver internal audit training and consultancy services under a governance framework.

Pol is also CIA topnotcher, a William S. Smith Certificate of Excellence awardee (Top 5) in the November 2006 exams.