Public Audit, Internal Audit, Risk & Governance

Module 1: Introduction to Public Audit and Internal Audit

Understanding audit concepts, principles, and objectives

Differences between public audit and internal audit

Importance of accountability and transparency in governance

Case Study: Audit in public institutions

Module 2: Legal and Regulatory Frameworks

Overview of international auditing standards (IIA, INTOSAI, ISA)

Regulatory and compliance requirements in the public and private sector

Governance codes and ethical considerations

Module 3: Internal Control Systems and Risk-Based Auditing

Components of effective internal control (COSO framework)

Risk-based approach to auditing

Identifying weaknesses in internal controls

Module 4: Public Financial Management and Accountability

Principles of public financial management (PFM)

Fiscal responsibility and expenditure oversight

Audit’s role in ensuring value-for-money in public spending

Module 5: Risk Management Frameworks

Enterprise Risk Management (ERM) fundamentals

Identifying, assessing, and mitigating organizational risks

Linking risk management with strategic objectives

Workshop: Developing a risk register

Module 6: Governance, Ethics, and Corporate Responsibility

Principles of corporate governance (OECD guidelines, King IV)

Ethical leadership and integrity in governance

The link between governance and audit effectiveness

Module 7: Audit Planning and Execution

Steps in audit planning, scoping, and fieldwork

Evidence collection, sampling, and data analysis in audits

Audit documentation and working papers

Exercise: Drafting an internal audit plan

Module 8: Audit Reporting and Communication

Writing effective audit reports

Communicating findings to management, boards, and oversight bodies

Recommendations and follow-up processes

Case Study: Impact of audit reporting on organizational performance

Module 9: Integrating Audit, Risk, and Governance Functions

How audit, risk management, and governance interact

Building an integrated assurance framework

Tools for collaboration between auditors, compliance officers, and boards

Module 10: Emerging Trends and Practical Application

Digital transformation in audit (data analytics, AI, and continuous auditing)

Fraud detection and prevention in public and private sectors

Global best practices in risk governance

Capstone Workshop: Simulated internal audit and governance review exercise