An autonomous istitution of Ministry of Finance, Govt. of India

nthescenariowheretheworldismovingtowardstheobjectsofself-Isufficiency,self-governanceandself-reliance,thecompaniesshouldalsomovetoachieveself-regulationandgovernancetowardsbetter

functioningandsuccessfulendeavoursincomingfuture.InternalAuditisamechanismtoprovideanindependentandobjectiveassessmentoftheeffectivenessandefficiencyofacompany'soperations,specificallyitsinternal control structure. The function of internal audit helps anorganization to accomplish its objectives by bringing systematic anddisciplinedapproachtoevaluateandimprovetheeffectivenessofriskmanagement,control,andgovernanceprocesses.Thescopeofinternalauditing is broad and includes the efficiency of internal control,operations, ITcontrols, thereliabilityof financialreporting,deterringand detecting fraud and compliance with laws and regulations. Thisvaried service requires systematic expertise and specialization inconductinginternalaudit.

Today, Company Secretary plays a pro-active and central role in thegovernanceofthecompany.TheCompanySecretaryguidesthedirectorsin their pursuit of profit and growth and acts with integrity andindependencetosafeguardtheinterestofvariousstakeholders.

CompanySecretarybeingakey functionary inthecorporatepyramidwith expertise in vivid laws and Corporate Governance can lead thecorporate with utmost excellence and efficiency in establishing self-regulation through internal audit. With increasing emphasis on theprinciplesofgoodgovernanceandcompliances,CompanySecretarieshaveasignificantroletoplay.Theirserviceslayfoundationforstrongsystemsandprocedureswhichallowforregulatoryandlegalcomplianceandtherebyfacilitatetheintegrationofeffectiveinternalaudit,internalcontrolandriskmanagementpracticesforenhancedselfGovernance.

ThisDiplomainInternalAuditwillopenavastworldofopportunitiesforcompanysecretariesinthefieldofinternalauditing.

ection138oftheCompaniesAct,2013introducedtheconceptofinternalaudittotheSforefrontandhaswideneditsscopetoagreatextent.TheActhasmadeinternalauditofthe functions and activities mandatory for all listed companies and certain class of

unlistedandprivatecompanieswithaviewtoensurebettercomplianceandgovernance.

TheCompanySecretariesbeinggovernanceprofessionalsareaptlysuitabletoperformtheroleofinternalauditorsandhavebeeninter-aliarecognisedtobeappointedasinternalauditorsofthecompanyundertheprovisionofCompaniesAct,2013.

Therefore,withaviewtofurtherdeveloptheskillsofCompanySecretariestoconductinternalaudit including compliance and operational audits, offering solutions for weaknesses ininternalcontrolsandverifyingthesubjectivecomplianceofrelatedlawsandregulations,theInstituteofCompanySecretariesofIndia(ICSI)andNationalInstituteofFinancialManagement(NIFM),Faridabad,anautonomousInstitutionofMinistryofFinance,Governmentof India,have joinedhands toofferaDiploma in InternalAudit.ThisDiploma in InternalAuditwillenhance the skills and knowledge of the members and thus augment their aptitude indemonstratingtheirknowledgeandskillsininternalauditing.

OPPORTUNITIESFORCOMPANYSECRETARY

INTRODUCTION

IntroductionandEvolutionofInternalAudit• Definition,Purpose,Authorityand

ResponsibilityofInternalAuditing• TypesofinternalAudit• EvolutionandHistoryofInternalAuditing• InternalAuditorvsExternalAuditor• SoftSkillsrequiredbyanInternalAuditor• RoleofInternalAuditorasaManagement

Member• RoleofCompanySecretaryasanInternalAudit• StrategicandOperationalRoleofInternalAudit

PracticesrelatedtoInternalAuditing• StandardsonInternalAuditing–Nationaland

International• Laws and Regulations on Internal Auditing –

NationalandInternational• Corporate/OrganizationalGovernance

Principles• CorporateSocialResponsibility• CodeofEthics• EnvironmentalandSocietalSafeguards• ChangeManagement• Audit Practices in relation to the Accounting

System• SAP6:“StudyandEvaluationoftheAccounting

System and Related Internal Controls inConnectionwithanAudit.”

InternalControls• MeaningandDefinitionofInternalControl

EligibilityCriteria

Onlythemembersof theInstituteareeligiblefortheadmissiontothecourse.

RegistrationMembers interested to apply for the courseshallapplyonlinethroughInstitute'swebsiteatwww.icsi.edu.

Thememberswillbeenrolledonfirstcumfirstservedbasis.

FeeStructureRegistrationFees(Onetime):Rs.12,500+Servicetax

Thefeeswillbepaidonline.

CourseStructure

TheDiplomainInternalAuditisadvancedlevelcourseandwilltestaparticipant’sknowledgeof current internal auditing practices andunderstanding of internal audit issues, risksandremedies.

DurationofCourseis3months.

CourseContents

The Coursewill introduce the participants totheprocessandtechniquesofinternalaudit.

Participants will be given case studies everyweekforselfstudy.Selfstudycoursematerialshall also be made available online indownloadable format. Online virtual classeswould be provided to the participants onweekends.Therecordingofthesamewillnotbeavailablefordownload.

AttendanceAttendanceof60%isnecessaryinvideolecturetositintheexamination.

Candidatewhoisnotabletoattendtheclasswillbeprovidedonechance toview the recordedvideo.

Examination/AssessmentAnonlinetest/assignmentwillbeconductedattheendofeverycourse.

Incasetheparticipantisunabletoqualifytheonlinetestinhisfirstattempt,hewillbegiventwomoreattempt(s)toappearandqualifytheonlinetestinsubsequentbatch(s)ofthecourse.Non attempt of the examination shall also becounted as an attempt. There will be noseparateexaminationfee.

CertificationThe participants successfully completing theCourseshallbeawardedaDiplomaCertificateto that effect by the Institute of CompanySecretariesofIndiainassociationwithNationalInstituteofFinancialManagement.

COURSECONTENTS

Thiscoursewillintroducetheparticipantstotheinternalauditanditsprocesses–

Modeof No.of PurposeofLearning Hours Learning

SelfStudy 50 Todevelopconceptual Hours understanding

Webbased 50 TogivesufficientTraining, Hours PracticalKnowledgepreferablyonweekend

Headquarters : ICSI House, 22, Institutional Area, Lodi Road, New Delhi 110 003 tel: 011-45341000 / 41504444 • e-mail: info@icsi.edu • website: www.icsi.edu

• DimensionsofInternalControl• Types of Controls and Management Control

Techniques• Internalcontrolschemes• InternalControlsontheAccountingFunction• Elements and Basic Principles and Inherent

Limitations• Internal Control Frameworks (eg – COSO,

Cadbury)• AlternativeControlFrameworks• RoleofInternalAuditorsinImplementationof

InternalControlsRiskManagement• RiskVocabularyandConcepts• Fraud

RiskAwareness• RiskManagementTechniques• EnterpriseRiskManagement(ERM)

Environment• Financial Risk Management Risk/Control

Implications of Different OrganizationalStructures

• EstablishingaRisk-BasedInternalAuditPlan• CaseStudies

FraudRisksandControls• Common Types of fraud and Fraud Risks per

EngagementArea• AssessingResponsetoEngagementAreaFraud

Risks• DeterminingNeedforFraud/Investigation• ProcessReviewforFraudControls

Improvement• DetectingFraud• CultureofFraudAwareness• Interrogation/InvestigativeTechniques• ForensicAuditing• DueDiligence• CaseStudies

Planning and managing Internal Audit andInternalAuditProgramme• InternalAuditPlan• ImportanceofPlanningInternalAudit

• FactorsforagoodAuditPlan• StagesforInternalAuditPlanning• KnowledgeoftheBusinessasanIntegralAspect• NatureofInternalAuditProgramme• AdvantagesandDisadvantages• Managing Individual Engagements – Plan and

SuperviseEngagements• UseofSamplingTechniquesanditsTests• Flowchartsandinternalcontrolquestionnaires• CaseStudies

InternalAuditToolsandTechniques• DataGathering• DataAnalysisandInterpretation• DataReporting• Documentation/WorkPapers• ProcessMappingincludingFlowcharting• EvaluateRelevance,Sufficiencyand

CompetenceofEvidence• UseofTechnologyinInternalAudit• Stepsinevaluationanditstechniques• CaseStudies

InternalAuditofSpecificFunctions• InventoryManagement• ProductionandOperations• Marketing• FinanceandAccounts• HumanResources

InternalAuditReports• FrameworkforInternalAuditReports• ReportWriting–CommunicatingEngagement

results• MonitoringEngagementOutcomes• Importance of working papers; CARO –

Companies(AuditorsReport)Order2003.