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 Lambin is a partner leading PwC’s Luxembourg Internal Audit Services team, bringing over 20 years of expertise in both internal and external audit practices. He serves on the board of the Institute of Internal Auditors (IIA), Luxembourg chapter, and holds multiple certifications including Certified Internal Auditor (CIA), Certified Financial Services Auditor (CFSA), Certified in Risk Management Assurance (CRMA), and expert-comptable in Luxembourg. Accredited by the IIA to lead internal audit quality assessments, Alexandre manages diverse internal audit assignments for clients outsourcing their audit functions to PwC and collaborates with internal audit departments across various sectors. He has also conducted external quality assessments for companies in financial, non-financial, and public sectors. His academic credentials include a master’s in management and a post-university certificate in audit and control.

Anthony Bianco is a partner at PwC Luxembourg, co-leading Internal Audit and Regulatory Advisory services for Financial Sector clients, including Asset Management and Banks. With over 18 years of experience in internal and external audit, he holds a Certified Internal Auditor (CIA) qualification. Anthony oversees numerous compliance and regulatory advisory projects within the Asset Management and Alternatives industries, focusing on CSSF inspection preparation, licensing processes, compliance methodologies, and policy development. His expertise spans Internal Audit, Asset Management, Regulatory Compliance, and AML/CFT/KYC, with notable client projects involving management companies, alternative investment fund managers, specialised PFS, fund administrators, registrar agents, and depositary banks.