Internal Audit Best Practices

Establishing an Effective and Independent Audit Function - Structure of an audit function, risks, challenges and steps to successfully complete an external quality assessment

Available Until August 22, 2019

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The audit function is important to the well-being of your credit union. The audit should constantly be identifying potential risks in the organization's internal controls, risk management and governance systems and processes in order to protect the organization and its reputation. Obtaining the Institute of Internal Auditors (IIA) accreditation for passing the external assessment is often viewed as the "Gold Standard" for audit organizations to demonstrate conformance with internal audit standards.

This webinar will provide you with insight on how to define your strategic objectives, structure your audit organization, help assure independence and objectivity, build the three lines of defense within your risk framework, and successfully complete the external quality review.

Key Takeaways

  • Evaluate the audit organization structure and functions
  • Develop a risk management framework to include the three lines of defense
  • Study the readiness of the credit union and develop a step-by-step process to complete an external quality assessment
  • Benchmark your audit function to other organizations, know what the industry standards are, and take proactive action to embed the lessons learned into your controls
  • Define the audit value proposition to your credit union

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$295 Members | $395 Nonmembers
(Additional $50 for CD) 
One registration gives your entire credit union access to the on-demand recording until August 22, 2019.
Already registered? Go to the Online Training Center to view live.

Who Should Attend?

Education Credits

CPA Certification Credit Information

  • Reviewer: Josie Collins, Education Manager, NAFCU
  • Learning Objectives: Evaluate the audit organization structure and functions. Develop a risk management framework to include the three lines of defense. Study the readiness of the credit union and develop a step-by-step process to complete an external quality assessment. Benchmark your audit function to other organizations, know what the industry standards are, and take proactive action to embed the lessons learned into your controls.
  • Define the audit value proposition to your credit union
  • Program Level: Basic
  • Prerequisites Needed: None
  • Advance Preparation Needed: None
  • Delivery Method: Group Internet-Based
  • Recommended CPE Credits: 1.5 credits
  • Recommended Field of Study: Auditing - Technical

NASBA Sponsor Logo

National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more.

About Our Webinars

Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer.

About the Presenter

Russel A. Rau
Russel A. Rau

Chief Audit Executive, PenFed Credit Union