Introduction to Internal Audit – Part 1: How Does Internal Audit Add Value?
This series provides an overview of the audit function, taking into consideration the evolving role of internal audit, internal controls, expectations, planning, risk assessment, reporting and more.

Hands-on exercises will help participants apply the concepts presented.

The banking business continues to become more complex due to changing technology, new and evolving regulations and a wider range of products and services.  As a result, the role of the internal auditor is changing, and expectations by examiners, external auditors, management and stakeholders continue to increase. This program will discuss the changing role of internal audit and how it may add value in today’s environment.  The program will also identify and define internal controls and “what could go wrong” as a result of not having effective controls. 


  • Internal audit profession
    • Definition and changing role of internal audit
    • Introduction to the Institute of Internal Auditors Standards and Guidance – International Professional Practices Framework
    • Difference between internal and external (financial statement) audit
    • FFIEC Interagency Policy Statement on the Internal Audit and Function and Co-sourcing
    • Impact of FDICIA and SOx regulation
  • The value of internal control
    • Introduction to the Committee of Sponsoring Organization’s Internal Control Model as Updated May, 2013
    • Types of internal controls and internal control standards
    • Cost/benefit and reasonable assurance of internal controls
    • What could go wrong?
    • How internal control adds value


Bank professionals seeking knowledge of internal audit and/or controls, including auditors, deposit and operations personnel, accountants, management and individuals with previous experience seeking a refresher.


Eileen Iles, CPA, CGMA, CIA, CFSA, CCSA, CRMA, is a Partner in Crowe Horwath LLP’s Risk Consulting practice. She has spent the past 14 years with Crowe consulting with financial institutions. Currently, she develops and conducts training for Crowe and various banking associations. A strength of Eileen’s teaching is her ability to explain concepts in easy-to-understand language and provide real life examples from her broad banking experience.

Credit Information

Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2 hours/session


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