TIAPS Module 1 Audit and Assurance workbook

C. Assurance and Advisory Engagements
Learning Outcomes
On completion of this section, students will be better able to:
• Compare and contrast assurance and advisory engagements.
• Determine an appropriate balance of audit and advisory engagements.
• Identify competencies needed for assurance and advisory engagements.
• Plan an assurance engagement of organizational governance.
• Evaluate IT and cybersecurity risks and controls as part of an audit engagement.
• Evaluate the effectiveness of entity-wide risk management.
• Describe how internal audit contributes to an organization’s responsiveness to fraud,
IT, and cybersecurity risks.
C.1 Characteristics of Assurance and Advisory Engagements
IIA Internal Audit Competency Framework
Organizational Strategic Planning and Management:
General Awareness: Identify the risk and control implications of different organizational
structures. Describe the strategic planning process. Describe common performance
measures. Explain organizational behavior and performance management techniques.
Describe management’s effectiveness to lead and build organizational commitment.
Applied Knowledge: Evaluate the organization’s governance structure and the impact of
organizational structure and culture on the overall control environment and risk management
strategy. Analyze the organization’s strategic planning process. Examine performance
measures used by the organization. Examine existing organizational behavior and
performance management techniques. Examine management’s effectiveness to lead and
build organizational commitment.
Expert: Recommend improvements to the overall control environment and risk management
strategy. Recommend improvements to the organization’s strategic planning process. Select
appropriate performance measures. Recommend appropriate organizational behavior and
performance management techniques. Recommend actions to improve management’s
approach to leading and building organizational commitment. 37
The definition of internal auditing quoted in B.1 identifies it to comprise both assurance and
consulting services (the latter commonly referred to as advisory services). These terms are
both defined in the IPPF.
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Internal Audit Competency Framework, The IIA, 2022.
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