Theory refresher - the control environment - Part 1 - Internal Audit and Controls
Taught by Stuart Murphy · AI tutor support included
You’ll learn how internal audit evaluates whether controls are properly designed, implemented and followed, and why the chief internal auditor should report to the audit committee.
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In this lesson
- 0:00 Core Activity E Introduction
- 0:50 Internal audit planning and purpose
- 3:42 Internal audit testing methods
- 6:57 Testing operational controls
- 10:35 Evaluating compliance failures
- 12:24 Board oversight responsibilities
- 13:32 Exam standard question setup
About this lesson
The lesson explains key testing methods, including interviews, walkthroughs, reperformance, sampling and data analysis, with practical examples involving payroll, access rights, call monitoring, staff breaks and training records. You’ll also explore how to identify the causes and consequences of compliance failures, recommend corrective action and apply the board’s oversight responsibilities. This Core activity E refresher is designed to help you answer exam-standard questions on maintaining a sound control environment.
Duration: 14m
Transcript
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