Subject:	“The New Global Internal Auditing Standards”
Date:	Friday, 21 February 2025
Time:	9:00 to 17:00
Venue:	Cleopatra Hotel, Nicosia
Language:	English
CPE Points (Continuous Professional Education):	7 CPEs
Instructors:	Isabella Arndorfer (BA, MA, CIA, CFSA, CCSA)
Outline:	Seminar Outline
Registration Form:	Seminar Participation

Course content:

1. Introduction
• Overview of the New Global Internal Audit Standards
• Key changes and their impact on internal audit practices
• Objectives of the course and expected outcomes for participants
2. Ethics and Professionalism – Domain I and II
• Emphasizing integrity and objectivity in internal auditing
• Practical examples of ethical dilemmas and how to address them
• Aligning audit practice with professional standards and codes of conduct 3.
3. Domain III – Governing the Internal Audit Function
• The role of audit committees in governance and oversight
• Building effective governance structures for internal audit
• Challenges in aligning the audit function with organizational strategy
4. Quality Assessments in Internal Audit
• Conducting internal and external quality assessments
• Techniques for evaluating audit performance and efficiency
• Incorporating feedback from assessments into continuous improvement
5. Domain IV – Leading the Internal Audit Function
• Developing leadership capabilities within the audit function
• Managing resources and aligning audit priorities with business goals
• Addressing resistance to change and fostering a proactive audit culture

6. Topical Requirements
• Key emerging topics in internal audit (e.g., IT audits, ESG)
• Regulatory changes and their influence on internal audit practices
• Aligning internal audit activities with current industry trends
7. Domain V – Performing Internal Audit Services
• Risk-based auditing and its application to internal audit services
• Practical methodologies for planning, executing, and reporting audits
• Addressing challenges in auditing complex and dynamic environments

Learning Objectives:

• Identify practical challenges in implementing the New Global Internal Audit Standards.
• Apply the core principles of governance, ethics, and professionalism in internal audit practices.
• Develop effective quality assessment processes to evaluate and improve audit performance.
• Implement risk-based auditing techniques to enhance internal audit services and alignment with organizational risks.

Who Should Attend?

• Internal Auditors – Professionals seeking to enhance their skills in risk-based audit planning and governance.
• Audit Managers and Supervisors – Leaders responsible for overseeing audit teams and audit planning processes.
• Members of Audit Committees and Board Members– Senior Board Members in charge of overseeing Internal Audit Operations

INSTRUCTOR

Isabella Arndorfer is a seasoned Internal Audit and Governance expert with over 20 years of experience in the financial sector. She has held senior roles, including Internal Audit Manager at the Bank for International Settlements (BIS) and the International Monetary Fund (IMF), where she conducted and led audits across various departments, specializing in internal controls and corporate governance. Her expertise spans financial regulation, risk management, and corporate governance, making her a key figure in
ensuring compliance and operational efficiency within financial institutions.

In addition to her auditing career, Isabella has been an influential lecturer on internal audit and governance, contributing to central bank seminars in Asia, Europe, and at the University of St Gallen. She is also lecturer at the IIA Slovenia and ISACA Oman. She has played a key role in governance improvement initiatives for the Middle East and North African regions as a member of the MENA OECD Competitive Initiative. Her publications, including works on risk management, governance, and audit practices, highlight her deep knowledge and contributions to the field of internal audit and governance.

In 2023, she founded the training platform www.cpetrainer.com and has been providing freelance consultancy services in audit, risk management, compliance, and governance through her company, www.ia-advisory.com.

Isabella holds a master’s degree in international management from ESADE, a degree in Business Administration from the University of Economics in Vienna, and several prestigious certifications, including Certified Internal Auditor (CIA), Certified Financial Services Auditor (CFSA), and Certified Control Self-Assessment (CCSA). She is fluent in multiple languages, including German, English, and Spanish, with working knowledge of French and Russian, and is also a trained mediator for conflict resolution.