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Gain specialized expertise in internal auditing within the Saudi financial sector. This program focuses on its regulatory and supervisory framework, its position within institutional structures, and its professional tools. You will learn the entire audit process—from planning and execution to reporting and follow-up—while taking into account the unique characteristics of the financial sector, global best practices, and Saudi regulations.
This program focuses on internal auditing in the financial services sector in the Kingdom of Saudi Arabia, its legislative and regulatory organization, and its local and global professional connections. It explains the role and importance of internal auditing within the structure of financial institutions, its professional and organizational tools, standards, and its relationship with governance and risk management. It also addresses its connections to internal and external assurance entities and stakeholders as a whole. The program also covers the auditing process in financial institutions, including planning, execution, reporting, and following up on recommendations in detail while considering the unique characteristics of the financial sector and drawing upon the best global practices related to it as well as the standards and regulatory frameworks adopted in the Kingdom of Saudi Arabia.
Certified Internal Audit Specialist (CIAS)
Banking
Financing
Audit
Not Exist
Lecture
Case Studies +2
Lecture
Case Studies
Brainstroming
Dialogue Teams
Pre Exam
Post Exam
Internal Audit
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In Class Training
An introduction to the financial services sector and the related regulations in Saudi Arabia, including an overview of the key elements of the financial sector and the characteristics of its activities.
The role of supervisory authorities in Saudi Arabia, including an overview of the regulatory and supervisory bodies in the Kingdom.
he global professional references for the internal audit profession, including international regulatory bodies.
Introduction to the concept of auditing, covering its definition and importance, the nature of auditing activities, as well as the different types of audits and their fundamentals.
Introduction to internal and external auditing, including the definition of internal auditing, the role of the internal audit team, the types of services it provides, as well as the definition and role of external auditing.
Relationship and Differences Between Internal and External Auditing 6.1 Main Differences Between Internal and External Auditing 6.2 Relationship Between Internal and External Auditing
The foundations of governance in financial institutions and their relationship with internal auditing, with a focus on the key guidelines of the Saudi Central Bank (SAMA) regarding the responsibilities of internal auditing in relation to governance.
In Class Training
The typical organizational structure of the internal audit department and its position within the financial institution’s organizational hierarchy, including an overview of the internal audit department structure and the optimal placement within the
Stakeholders of the internal audit function and their expectations, including the identification of stakeholders and the beneficiaries of internal audit services in financial institutions.
The professional essentials for the internal auditor, including independence, objectivity, the competency standard, due professional care, and the quality assurance and improvement program.
The organizational tools and resources of internal auditing, focusing on the mechanisms and means that enable the internal audit function to perform its duties effectively.
Module 3: The Annual Internal Audit Planning Process
The concept of risk management in financial institutions, highlighting the importance of risk management, the fundamentals of the risk management framework, and a detailed explanation of the framework.
Principles of Risk Assessment 2.1 Steps to Identify and Classify Risks 2.2 Inherent Risk and Residual Risk 2.3 The Most Prominent Categories of Risks Faced by Financial Institutions
Preparation of the Annual Internal Audit Plan 3.1 Requirements and Conditions for Successful Planning 3.2 Steps of Preparing the Internal Audit Plan
Approval of the Annual Plan for Internal Auditing 4.1 Phases of Reviewing, Modifying, and Adopting the Annual Plan for Internal Auditing 4.2 Monitoring and Updating the Plan Throughout the Year
In Class Training
The steps of planning internal audit assignments, including setting a clear plan for carrying out audit tasks to ensure objectives are achieved efficiently and effectively
Building relationships with stakeholders and understanding their expectations regarding internal audit assignments, including a review of successful practices for establishing and strengthening professional and collaborative relationships with stakeh
The nature, types, and objectives of internal audit services and their benefits, including an overview of the nature of internal audit services, the different types of services, their objectives, and the role of internal auditing in investigating all
Defining the objectives of internal auditing, with a focus on the most common objectives in internal audit assignments within financial institutions.
The mechanism for studying global best practices in operations within financial institutions, with an emphasis on the benefits of examining international best practices.
Evaluating the required data and the mechanisms and tools needed for its collection, analysis, and documentation, with a focus on understanding the organization to be audited and reviewing the methods and tools for data collection.
Finalizing the internal audit program, including the steps for reviewing the final audit plan and the controls for updating the program during fieldwork.
Preparation for Fieldwork
Case Study (Part One)
In Class Training
Stakeholder inquiry, including a review of best practices related to inquiry mechanisms, the factors influencing the selection of the most appropriate mechanism for the scope of internal auditing, as well as the benefits of conducting inquiries throu
Selecting and analyzing data, including the methods of obtaining audit evidence, data analysis, the benefits of data analysis for internal auditors, an overview of common analytical techniques, and the competencies and expertise required of internal
Documentation mechanisms, including the main documentation methods in the context of internal audit assignments, the characteristics of competent and effective documentation, and the steps for creating, designing, and editing technical documents.
Evaluating the IT environment, including the role of internal auditing in information technology, as well as the steps of IT internal audit and its control measures.
Conducting the audit, preparing conclusions, and developing corrective recommendations, with a focus on the relationship between root cause analysis and recommendations, a review of root cause analysis techniques, and the formulation of recommendatio
Quality Assurance
Case Study (Part Two)
In Class Training
The concept of the audit report, including the definition of the internal audit report and its purpose.
The differences between the internal audit report and the external audit report, highlighting the professional and organizational distinctions between them.
Standards and elements of the internal audit report, including the standards for preparing internal audit reports and the key components that should be included in such reports.
The quality of the internal audit report, including the elements that ensure its quality.
Recommendations, including the characteristics of effective recommendations, the recommendations section in the internal audit report, and the specific considerations for recommendations in the context of the financial sector in Saudi Arabia.
Mechanisms for obtaining stakeholder feedback on reports, including effective methods for obtaining feedback and the quality of the feedback collection process.
Follow-up on corrective actions, including the different methodologies for the follow-up process and the systematic steps to be followed in carrying out follow-up activities.
Case Study (Part Three)
Understand the fundamentals of the financial sector in the Kingdom of Saudi Arabia and the significance of the role of internal auditing within it, along with its professional and regulatory associations locally and internationally.
Gain a profound comprehension of the concept of internal auditing, its standards, structure, and its relationship with other assurance activities within financial institutions, as well as the essential traits for its practitioners.
Acquire skills to evaluate governance frameworks and internal control systems, recognizing the best global frameworks and their connection to internal auditing.
Assess and evaluate the risks faced by financial institutions in their internal and external environments.
Develop the annual risk-based internal audit plan in detail.
Learn the basics of planning risk-based internal audit assignments.
Prepare and execute audit programs and procedures, selecting appropriate samples, and utilizing the most effective data models in the financial sector.
Identifying the root causes of audit findings and formulating appropriate recommendations to address them within the context of the financial sector.
A comprehensive understanding of the main types of assurance reports, with a focused approach on how to prepare, discuss, and submit internal audit reports, as well as how to follow up on the implementation of their recommendations in line with estab
