Risk-based Internal Audit training for corporate and private sectors started today

A week-long capacity development program on Risk-based Internal Audit tailored for the internal auditors of corporate and private sectors started today at PDC. The training is aimed to enhance the competencies of internal auditors of corporate and privates sectors and broadly classified into five sessions as follows:

1. Session I – Introduction to Internal Audit, which includes understanding the roles, values and objectives of internal audit;

2. Session II – Overall Internal Audit Planning, which entails assessment and identification of overall audit risks;

3. Session III – Engagement Planning, which includes pinning down the risks to activity level and developing response to the risks identified;

4. Session IV – Performing the Engagement, which involves comprehension of different audit procedures to obtain audit evidence as response to the risks, and evaluating the sufficiency and appropriateness of the evidences gathered; and

5. Session V – Engagement Reporting, which includes understanding of communicating audit results and conducting its follow-up.

Hon’ble Auditor General graced the opening session of the training virtually where he highlighted the importance of auditors in ensuring public accountability, and assured RAA’s support in collaborating with internal auditors to enhance their professional competencies. Dasho mentioned how the role of internal auditors could ensure maintaining a robust internal control systems that prevents creating “opportunity” for fraud and corruption in their agencies. Dasho finally urged the participants to make optimum use of the available resources to enhance their knowledge and skills, and offered good wishes for meaning learning experience and memorable stay at PDC.

The participants for the training includes internal auditors and engineers from Bhutan Power Corporation Limited, Bhutan Electricity Authority and TashiCell most of whom are are responsible of ensuring proper internal control systems and monitoring occupational safety standards and protocols in their agencies.

The training is scheduled to conclude on 26th November 2021.