Advanced Monitoring and Developing the Internal Audit Function Training Course – Vienna, 16–27 Aug 2027

Monitoring and Developing the Internal Audit Function is an advanced 2-week training course for heads of internal audit, audit committee liaisons and audit quality leads, centred on one work product: an Audit Function Scorecard and Development Plan that links measured performance to staffing, budget and capability choices. Committees increasingly question what their audit spend returns, and only a measured function can answer convincingly. Jupiter Prime Training built the course around that oversight conversation.

Why Monitoring and Developing the Internal Audit Function Matters Now

Audit committees now evaluate their audit function as closely as any other unit, asking about coverage, timeliness, staff turnover and the usefulness of reports. Talent is scarce, so heads of audit must choose between hiring, co-sourcing and upskilling with limited budgets. Meanwhile the Global Internal Audit Standards, issued by The Institute of Internal Auditors (IIA), set explicit requirements for the chief audit executive to manage resources, measure performance and maintain a Quality Assurance and Improvement Program (QAIP). Functions that track and grow themselves keep committee confidence; those that cannot explain their performance risk outsourcing decisions made without them.

Who Gains Most from Monitoring and Developing the Internal Audit Function

• Heads of internal audit who answer to the committee for budget, staffing and coverage of the plan
• Committee liaisons who prepare packs, minutes and the annual evaluation of the audit function
• Quality leads who run self-assessments and prepare for independent external assessment
• Audit operations managers who own scheduling, timesheets and audit management software
• Talent and learning partners who design career paths and certification support for auditors

An audit leadership trio, the head of function, its quality lead and the committee liaison, gains most when its members attend together and agree one set of measures.

Monitoring and Developing the Internal Audit Function Capabilities

The outcomes focus on the function as an operating unit with inputs, outputs and a capacity to grow.

• Specify a balanced set of performance indicators for the audit function — committee oversight decisions
• Calculate audit capacity, utilisation and budget variance — staffing and co-sourcing choices
• Design an internal self-assessment and external assessment cycle — conformance evidence
• Build a capability model with career paths and rotation — retention of skilled auditors
• Weigh audit technology investments against expected efficiency — the annual audit budget
• Communicate function performance through a committee scorecard — the audit committee chair

Key Monitoring and Developing the Internal Audit Function Terms

• Audit function scorecard — a short set of indicators covering coverage, timeliness, stakeholder satisfaction, people and quality reported to the committee.
• Utilisation rate — the share of available auditor time spent on planned assurance and advisory engagements rather than administration.
• External quality assessment — an independent review of the audit function's conformance and effectiveness, carried out periodically by a qualified outside assessor.
• Co-sourcing — engaging an outside provider to supply specialist auditors who work under the direction of the in-house head of audit.
• Capability model — a framework describing the skills, knowledge and behaviours expected of auditors at each grade.
• Stakeholder satisfaction survey — a structured questionnaire sent to auditees and executives after engagements to rate the usefulness of audit work.

Monitoring and Developing the Internal Audit Function Day by Day

Day 1: Oversight Expectations for the Audit Function

• Audit Committee Terms of Reference — Oversight Duties Over Internal Audit
• Global Internal Audit Standards Governance Domain — Board and CAE Responsibilities
• Annual Evaluation of the Audit Function — Questions Committees Ask
• Independence and Objectivity Threats — Safeguards in Reporting Lines
• Audit Charter Review — Authority, Scope and Access Rights

Day 2: Designing the Performance Measures

• Balanced Scorecard Perspectives for Audit — Choosing Four Lenses
• Leading and Lagging Indicators — Plan Completion Versus Report Impact
• Stakeholder Satisfaction Survey Design — Question Wording and Response Rates
• Indicator Definition Sheets — Formulae, Owners and Data Sources
• Target Setting for Audit Indicators — Stretch Without Gaming

Day 3: Capacity, Budget and Utilisation

• Available Auditor Days Calculation — Leave, Training and Administration Allowances
• Utilisation and Chargeable Time Tracking — Timesheet Discipline
• Audit Budget Variance Reporting — Explaining Overruns to the Committee
• Engagement Cycle Time Measures — Fieldwork to Final Report Duration
• Coverage Ratio of High-Risk Areas — Unfunded Assurance Gaps

Day 4: Sourcing Models for Audit Skills

• In-House, Co-Sourced and Outsourced Models — Control and Flexibility Trade-Offs
• Specialist Skills Gap Analysis — IT, Fraud and Sector Expertise
• Co-Sourcing Contract Terms — Direction, Confidentiality and Working Paper Ownership
• Guest Auditor Schemes — Borrowing Business Expertise Safely
• Provider Performance Review — Renewal or Exit Decisions

Day 5: Self-Assessment of Conformance

• Internal Self-Assessment Protocol — Sampling Engagements for Review
• Conformance Evidence Files — Proving Each Standard Is Applied
• Ongoing Monitoring Through Supervision Records — Real-Time Quality Signals
• Nonconformance Disclosure Rules — What Must Reach the Board
• Self-Assessment Report Writing — Findings and Improvement Actions

Day 6: Preparing for External Quality Assessment

• Full External Assessment Versus Validated Self-Assessment — Choosing the Route
• Assessor Selection Criteria — Independence and Competence of the Team
• Interview and Survey Logistics — Executives, Auditees and Committee Members
• Rating Scales Used by Assessors — Generally, Partially or Not Conforming
• Post-Assessment Action Tracker — Closing Recommendations Visibly

Day 7: Capability Models and Career Paths

• Auditor Capability Model — Grades, Skills and Behaviours
• Certification Support Policy — Study Leave and Sponsorship Choices
• Rotation Schemes With the Business — Talent Exchange and Independence
• Succession Planning for Audit Managers — Critical Role Coverage
• Individual Development Plans — Coaching Goals Linked to Capability Gaps

Day 8: Technology and Methodology Investment

• Audit Management Software Features — Workflow, Timesheets and Issue Tracking
• Analytics Capability Roadmap — Skills, Licences and Data Access
• Methodology Manual Revision Cycle — Version Control and Training Rollout
• Business Case for Audit Technology — Efficiency Gains and Hidden Costs
• Knowledge Repository Design — Reusable Audit Work Plans and Lessons Learned

Day 9: Reporting Function Performance to the Committee

• Committee Scorecard Layout — One Page of Indicators and Commentary
• Trend Narratives for Indicator Movements — Causes and Corrective Steps
• Resource Adequacy Statement — Signalling Constraints on Assurance Coverage
• Committee Private Session Agenda — Topics for Discussion Without Management
• Annual Function Report — Performance, Quality and Development Highlights

Day 10: Practising the Audit Function Scorecard and Development Plan

• Indicator Set Finalisation — Applying Scorecard Design and Targets
• Capacity and Sourcing Scenario — Applying Utilisation and Co-Sourcing Models
• Conformance Evidence Check — Applying Self-Assessment Findings
• Capability Investment Priorities — Training, Hiring and Technology Sequencing
• Audit Function Scorecard and Development Plan — Measures, Actions and Owners

Applying Monitoring and Developing the Internal Audit Function After the Course

• Launch a stakeholder satisfaction survey after the next three engagements and add the results to a first committee scorecard.
• Run an available auditor days and utilisation calculation for the coming year and present sourcing options for any high-risk coverage gap.

Monitoring and Developing the Internal Audit Function Questions (FAQ)

What does monitoring and developing the internal audit function involve, and why does it matter now?

It means measuring how the audit function performs and investing deliberately in its people, methods and tools. It matters now because committees evaluate audit value more closely and the Global Internal Audit Standards expect the chief audit executive to manage resources and quality visibly.

Which roles gain most from monitoring and developing the internal audit function?

Heads of internal audit, committee liaisons, quality leads and audit operations managers gain most. They decide budgets, staffing, assessment cycles and what the committee sees about the function's performance.

How is monitoring and developing the internal audit function different from a course on performing audit engagements?

An engagement course improves how a single audit is planned and executed. This course treats the function as an operating unit, covering indicators, capacity, sourcing, quality assessment, career paths and committee reporting.

What do you bring back from monitoring and developing the internal audit function training?

You bring back a draft scorecard with defined indicators and targets, a capacity and sourcing calculation, a conformance evidence checklist and a development plan that sequences training, hiring and technology investment.

Monitoring and Developing the Internal Audit Function: The Way Forward

The Audit Function Scorecard and Development Plan first informs the committee's annual evaluation of internal audit and the next budget request. The head of audit owns it, the committee liaison presents it and the quality lead feeds it with assessment results. Once a full cycle of indicators exists, revisit the targets and the sourcing mix against what the numbers reveal.