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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 Practice 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 and control
  • Research and investigation
  • Data collection and analysis
  • Reporting and follow-up
  • Quality and control
  • Business process and project management

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 the respective risks from fraud and possible ethical issues.

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:
  • The principles of economics for business decision making
  • The regulatory environment, local and international compliance
  • Law for practising internal auditors
  • Common business structures and their statutory requirements
  • Fraud risk and prevention
  • Fraud investigations and the laws of evidence

Module 3 – Organisational Systems and 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 & 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 affecting applications and business processes with effective information management controls.

This module will cover the following major topics:
  • Introduction to accounting processes and financial statements
  • Accrual accounting and income matching conventions
  • Analysis and interpretation of financial statements
  • Calculating common financial ratios
  • The role of Audit in ICT
  • IT Operations and the Law
  • IT Governance
  • Standards for Information System Security
  • Auditing Infrastructure: Physical and Logical Security Reviews
  • Auditing Networks
  • Auditing New Systems and Development

Module 4 – Professional in Practice

Professional in Practice is the capstone program of the Graduate Certification 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 technical modules, this module will focus on the non-technical skills that will enable candidates to lead and effect change, and communicate and influence effectively at all levels of the organisation. Through group and project work, candidates will have the opportunity to consolidate and synthesise their knowledge to effectively solve problems and manage a value-adding internal audit program.

This module will cover the following major topics:
  • Influence and communication
  • Change management
  • Negotiation and conflict management
  • Leadership skills
  • Ethics and professional judgement