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Certified European Internal Audit Manager Print E-mail

Action:

Leonardo da Vinci Pilot Project 2005

Project Number:

L-B-013/2005

Project Title:

Certified European Internal Audit Manager

Start date and end date:

1 Oct 2005 – 30 Nov 2007

Project coordinator:

Memolux Ltd

Contact:

János Ivanyos

janos.ivanyos<at>memolux.hu

Project partners:

 

Budapest Business School, Memolux Ltd, ISCN Ltd, Fundación General de la Universidad de Valladolid, BRUXINFO s.p.r.l., Babes Bolyai University

More information:

www.training.ia-manager.org

www.project2005-07.ia-manager.org

 

Description of the activity

 

The key objective of this training programme is setting up a modular structure for assessment of internal controls over financial reporting, which is commonly applicable in each sector under related regulatory directives (like financial regulation of using EU, national and other public funds; Basel II for bank sector; SOX or EU Company Law for listed companies, etc.). The project developed the course materials, the skill card, and configured the accreditation system for online learning services based on the combination of international standards and European best practices applicable both in public and private sectors.

 

Short abstract

 

Internal and external audit standards (like IIA, INTOSAI and ISA) recommend systems based evaluation of existing internal controls against internationally recognized control standards, like the COSO Internal Control – Integrated Framework. Using COSO components for process dimension and ISO/IEC 15504 measurement framework for capability dimension provides common methodology for all parties responsible for implementing and monitoring internal controls even at different operational units of an organization. Mapping target capability profiles to business objectives also helps to put internal controls into the perspectives of Enterprise/Entity Risk Management (ERM).


Quality requirements of the international internal and external audit standards force to evaluate the assessment skills, procedures and practices of the auditors/audit departments in making opinion about the internal controls of the audited organization. The developed training programme and the examination system certified by the international association (www.ecqa.org) offer transparent way to auditors/audit departments for acquiring and evidencing relevant skills and knowledge.

 

The project developed the course materials, the skill card, and configured the accreditation system for online services based on the combination of international standards and European best practices both in public and private sector. The skill card of Certified European Internal Financial Control Assessor is available through an online system for browsing the skill elements, performing self-assessment and exams; collecting evidences, and receiving a formal assessment of the evidences online. A skills gaps profile shows which elements the student still has to exercise to achieve the full accreditation. From 2008, an innovation transfer project called Multilingual ONTology for Internal FInancial Control (LLP-LDV-TOI-2008-HU-002) co-funded by the European Commission is enhancing the training programme by implementing a terminology and ontology interoperability framework. See more details at: www.training.ia-manager.org

 

Target group

 

The target group is the wider public and private sector financial managers, internal and external auditors who want to improve their skills based on international practices focusing on internal financial controls under specific regulatory requirements.

 

Summary of results and impact

 

The training guidelines are reflecting to the following aspects of applying COSO and ISO/IEC 15504 principles: corporate governance; the nature of systems auditing; the impact of risk on audit planning and audit assignments; control evaluation and assessment; elements of a systems audit and audit procedures; business communications; fraud and irregularities; and statistical methods.

 

By structuring the required skills of a Certified European Internal Financial Control Assessor in form of a European skill card, the online-self assessment and accreditation system helps managers identifying and overcoming skills gaps required becoming a Certified European Internal Financial Control Assessor.

 

Specific theme covered by the activity

 

Collaboration with professional organizations under the European Certification and Qualification Association (ECQA) contributes to achieve Europe-wide recognition of the European Internal Financial Control Assessor certificate.

 

Sponsored by

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Partners

BGF
ECQA
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Sigla-UBB-m
Bruxinfo
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