Certified Internal Finance Auditor [CIFA]-5th Batch

By the end of this program, participants will be able to:

• Understand the Fundamentals of Internal Auditing – Develop a strong understanding of internal auditing principles and their importance in corporate governance.
• Ensure Independence and Objectivity – Learn how to maintain objectivity and independence while conducting audits.
• Manage Internal Audit Activities – Develop strategies to plan, execute, and oversee internal audit activities effectively.
• Develop Audit Planning and Design – Learn how to create effective audit plans and conduct risk assessments.
• Gather and Analyze Audit Evidence – Understand the techniques for collecting, documenting, and analyzing audit evidence.
• Conduct Internal Audits – Gain the ability to execute internal audits and assess operational risks.
• Evaluate Financial Statements – Develop expertise in interpreting and analyzing financial statements.
• Apply Internal Control and Fraud Detection Techniques – Learn how to design and assess internal controls to prevent fraud and mismanagement.
• Enhance Audit Reporting Skills – Develop the ability to write clear, accurate, and actionable audit reports.
• Support Organizational Governance and Compliance – Understand the role of internal auditing in strengthening governance, compliance, and business performance.

M-1: Introduction to Internal Auditing
M-2: Independence and Objectivity
M-3: Managing the Internal Audit Activity
M-4: Audit Planning and Design
M-5: Audit Evidence and Documentation
M-6: Conducting an Audit
M-7: Understanding Financial Statements
M-8: Managerial Accounting & Internal Auditing
M-9: Internal Controls and Fraud Detection
M-10: Audit Reporting

Upon completing the program, participants will be able to:

• Develop and implement effective internal audit strategies.
• Maintain independence and objectivity in audit execution.
• Plan and design audit activities aligned with organizational goals.
• Collect and analyze audit evidence to support findings.
• Conduct risk assessments and recommend improvements.
• Evaluate financial statements and identify anomalies.
• Detect and prevent fraud through robust internal controls.
• Write comprehensive audit reports and present findings to senior management.
• Improve organizational governance and compliance through auditing.
• Support strategic decision-making with audit insights.

Features:
Duration: 4 Months
Class: 10 Sessions
Class schedule: Saturday 02:10 PM - 04:10 PM GMT
Short Video Material: Yes
Mode of Learning: Virtual Class (Via Zoom)

Assignment: 

• Total Assignments: 05
• 1 Pre-Course Assignment (Learning Purpose)
• 3 In-Course Assignment
  • Each Assignment Marks: 100
  • Pass Mark: 70%
• 1 Capstone Project
  • Assignment Marks: 300
  • Pass Mark: 70%

Name: James Mwangi
Designation: Internal Auditor
Country: Kenya
"This course provided me with the practical tools and knowledge to conduct effective internal audits and improve governance within my company."

Name: Abigail Mensah
Designation: Risk Manager
Country: Ghana
"Learning about risk assessment and fraud detection has helped me identify gaps and recommend improvements to senior management."

Name: David Banda
Designation: Financial Controller
Country: South Africa
"The financial statement analysis and internal controls modules were very insightful and improved my ability to evaluate company performance."

Name: Sarah Okeke
Designation: Audit Manager
Country: Nigeria
"The course provided me with a structured approach to audit planning and execution, which has improved the overall quality of my audits."

Name: Joseph Kamau
Designation: Compliance Officer
Country: Tanzania
"The program’s focus on governance and compliance has enabled me to strengthen internal controls and prevent fraud within the organization."

Exam Method:

Case-Based Quiz

• Total Quiz: 10
• Number of Questions: 05
• Marks for Each Quiz: 10 
• 70% Passing Mark

Number of Online Final Exams: 01

Online MCQ (Multiple Choice Question) Exam 

• Number of  MCQ Questions: 50
• Exam Duration: 60 Minutes
• Total Marks: 100
• Pass Mark: 70%

Q-1: What does "segregation of duties" help to prevent?
A) Fraud and errors
B) Excessive paperwork
C) Employee dissatisfaction
D) Delayed reporting
Correct Answer: A) Fraud and errors

Q-2: Which type of internal control is designed to detect errors or fraud after they have occurred?
A) Preventive controls
B) Detective controls
C) Corrective controls
D) Compensatory controls
Correct Answer: B) Detective controls

Q-3: Which of the following is an example of a preventive control?
A) Regular internal audits
B) Segregation of duties
C) Review of financial statements
D) Error correction procedures
Correct Answer: B) Segregation of duties

• 10 Practical Focus Module
• 01 Handbook
• 03 Reference Book
• Post Completion:
  • Electronic Certificate
  • Digital Badge via Credly.com
  • Printed Certificate Available
  • Printed Transcript  Available

Audit Planning and Execution

Proficiency in designing, planning, and executing internal audits.

Risk Assessment and Management

Ability to assess and mitigate organizational risks through audit insights.

Internal Control and Fraud Detection

Expertise in identifying weaknesses in controls and recommending corrective actions.

Financial Statement Analysis

Skill in interpreting and analyzing financial data for audit purposes.

Audit Reporting 

Competence in preparing and presenting detailed audit reports.

Ethical and Professional Conduct

Adherence to professional standards of independence and objectivity.

Governance and Compliance

Ability to enhance organizational governance through internal audits.

Problem-Solving and Decision-Making

Skill in identifying gaps and recommending strategic improvements.