Introduction to internal audit

Internal audit is performed in several sectors, both private and public. It may be performed by internal audit professionals, both within and outside the organisation. Internal audit is an independent and objective activity that provides an organisation with assurance about the state of control of its operations, provides advice on how to improve them, and helps add value. It helps an organisation to achieve its objectives by assessing, through a systematic and disciplined approach, its risk management, control, and corporate governance processes and making proposals to improve their effectiveness. Internal audit also enables international organisations to verify that the various entities are in line with the group's strategy.

By the end of the training, participants will be able to:

• have a better understanding of the roles and responsibilities of the internal audit function;
• have a refresh of the applicable international standards for the professional practice of internal auditing;
• define adequate risk assessment and internal audit plan;
• carry out a non-complex internal audit assignment;
• benchmark their processes and controls with best practices;
• report and follow up on the findings of their work.

• Internal audit definition
• Types of internal audit
• Positioning of internal audit (in relation with other management and governance bodies)
• Framework for the practice of internal audit
• Typical conduct of an internal audit engagement
• Writing the report
• Follow-up of recommendations

An attendance certificate will be sent to participants.

This training is coordinated by Alexandre Lambin and Anthony Bianco, Partners at PwC Luxembourg.

Alexandre is a partner within PwC Luxembourg’s Risk Assurance practice, with a particular focus on internal audit services and corporate governance. He has more than 26 years of experience in the audit practice (internal and external).

He is qualified as a Certified Internal Auditor (CIA), Certified Financial Services Auditor (CFSA), Certified in Risk Management Assurance (CRMA) and expert-comptable in the Grand-Duchy of Luxembourg.

Alexandre is also accredited by the Institute of Internal Auditors to lead internal audit functions quality assessments.

Within PwC Luxembourg, Alexandre is co-leading the corporate governance working group with the objective of facilitating and optimising governance related services. He is also closely collaborating with the internal audit departments of several companies across various sectors on a diversified panel of assignments.

Anthony is a partner within PwC Luxembourg’s Internal Audit and Regulatory Advisory teams, boasting over 15 years of experience in both internal and external audit, as well as regulatory practices. He specialises in the financial sector, particularly in asset management and banking.

He is qualified as a Certified Internal Auditor (CIA).

Additionally, he gained international experience in the PwC New York office from 2010 to 2012. During this period, he oversaw large alternative investment funds with various strategies and structures. Subsequently, Anthony took part in the outsourcing of the internal audit function of one of the top 20 asset managers worldwide.