Internal Audit Management - End User Course

Course Overview:

The MetricStream Internal Audit Management (IA) product is a comprehensive and highly configurable audit management system that enables users at all levels to drive systematic risk-based auditing across the enterprise. The app is designed to manage a wide range of internal audit activities, data, and processes in an integrated and unified manner.

Level

Intermediate

Content

6 Hours

Practice

4 Hours

Q&A with MSU

2 Hours

Pre-Requisites

Familiarity with concepts on Internal Audits

Learning Objectives:

This course enables you to drive systematic risk-based auditing across the enterprise using MetricStream’s Internal Audit app. The course covers Audit Universe, Audit Planning, Audit Execution, Findings, Audit Reporting, Audit Closure and App Configurations.

The training is focused on making trainees understand the features, process, workflows, and functionalities of the Internal Audit Management Product. At the end of the training and practice, trainees will have knowledge on how to perform basic setup of the IAD product which includes knowledge on:

§ Product Functionality & Use Case Workflow Usage

o Understand benefits of the IA app

o Understand key components in IA

o Understand the standard roles in IA

o Create and manage Audit Universe

o Perform risk assessments

o Perform Audit Planning and Execution

o Create Questionnaires and send out Surveys

o Manage Issues and Actions

o Manage Resource and Timesheet management

o IA Configuration Parameters

§ Product/Use Case Setup

o Setup Auditor Profile and Milestones

o Upload Audit Data

o Perform Risk Assessment Setup

o Create Timesheet Policy and Timesheet

Practice & Facetime with Instructor:

Once you start the course, please reach out to MSU at [email protected] to get a practice instance allocated. Upon completion of course content and sufficient practice, reach out to your MSU instructor for your 2 hr Q&A session to clarify and address any open questions.

Certification Issued:

Participants will be issued a Course Completion Certificate on successful completion of the entire course.

Course Overview: The MetricStream Internal Audit Management (IA) product is a comprehensive and highly configurable audit management system that enables users at all levels to drive systematic risk-based auditing across the enterprise. The app i...

Course content

Lesson Internal Audit Management Overview & Navigation

The MetricStream Internal Audit Management app is a comprehensive and highly configurable audit management system that enables users at all levels to drive systematic risk-based auditing across the...
- Internal Audit Overview (10 Minutes)
- Navigation (10 Minutes)
Lesson Audit Universe

Audit Universe helps you manage the content that is used in performing the audits. You can relate one content with the other. On the Audit Universe tab, you can create: Processes Auditable ...
- Audit Universe (23 Minutes)
- Checklist Procedure (13 Minutes)
Lesson Risk Assessments

The Risk Assessments module provides a centralized risk framework to document, manage, and assess risks faced by an organization. In Internal Audits, use the Risk Assessments page to: Schedule...
- Risk Assessment Plan (18 Minutes)
- Risk Assessment Task ( 5 Minutes)
- Perform Risk Assessments (11 Minutes)
Lesson Audit Planning

Use the Audit Plans page to: Create and publish audit plans containing multiple audits Create an audit plan for one or more years, as required Select the audit type that suits your audit (organi...
- Create and Approve Audit Plan (21 Minutes)
Lesson Audit Execution

In the Audit Execution stage: Manage audit projects Create and track workpapers created for your projects Send out Surveys Send Issues for Review Create Audit Reports
- Manage Audit Projects (14 Minutes)
- Create and Track Workpapers 1 (34 Minutes)
- Create and Track Workpapers 2 (20 Minutes)
- Initiate Surveys (16 Minutes)
- Send Issues for Review (9 Minutes)
- Manage Resource and Budget Requests (6 Minutes)
- Audit Reports (10 Minutes)
- Audit Closure ( 9 Minutes)
Lesson Impact Analysis

As a lead auditor or audit manager, you can initiate different types of surveys to gather information about policies and procedures. To request for documents that specify the scope of audit, and...
- Create Questionnaire (18 Minutes)
- Setup Survey (18 Minutes)
- Respond and Approve Survey (10 Minutes)
Lesson Resource and Timesheet Management

The modules help you: Manage and edit schedules of projects, allocate resource to each project. Create timesheet policy and enter timesheet for self and others.
- Manage Project Team Resources (9 Minutes)
- Create Timesheet (7 minutes)
Lesson Issues

The Issues module supports the identification and evaluation of issues as well as case investigation and tracking leading to an elaborate remediation or corrective action process.
- Creating and Approving Issues (15 Minutes)
- Manage Issue (8 Minutes)
- Respond to Actions (7 minutes)
- Issue Closure (8 Minutes)
Lesson IA: Product Setup

MetricStream components can be tailored to specific requirements of an organization in different ways. This unit covers the most common requirements and functions performed by an 'Apps Administrato...
- Auditor Profile, Milestone (13 Minutes)
- Risk Assessment Setup (19 Minutes)
- Create Timesheet Policy (7 Minutes)
- Create Timesheet (7 Minutes)
- Upload and Import Data (10 Minutes)
Lesson IA: Enhancements

Recent enhancements in Internal Audit Management
- Local Administrator.mp4
- Comments Widget.mp4
Lesson IA - Use cases
- Quality Audit.mp4
Lesson IA: Practice

Please reach out to your trainer for credentials to the practice instance before starting this unit.
- Audit Universe - Practice (90 Minutes)
- Risk Assessments - Practice (60 Minutes)
- Audit Planning - Practice (40 Minutes)
- Audit Execution - Practice (120 Minutes)
- Surveys - Practice (60 Minutes)
- Resource and Timesheet Management (60 Minutes)
- Issues & Actions (60 Minutes)
- Setup - Practice (120 Minutes)