Internal Audit for school finance

 

Internal audit plays a vital role in school finance, providing assurance that management, governance, and internal control processes are operating effectively. A robust internal audit process helps ensure the integrity of financial statements, reviews internal controls, and makes external audits simpler and less stressful.

 

Effective internal auditing does not require specially trained or qualified staff—what matters are clear procedures, structured reporting, and practical skills.

 

This course equips school staff with the tools and techniques needed to carry out internal audits efficiently, strengthen financial processes, and provide evidence of compliance. By putting simple, effective processes in place, schools can improve accountability, minimise risk, and ensure smoother external audits.

 

The course consists of 2 x 1-hour sessions including video presentations, downloadable notes, and a completion assignment, allowing participants to consolidate learning and apply it directly in their schools. Completion leads to an Internal Audit Certificate.

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Session 1 – The Role and Planning of Internal Audits

• The role and function of internal audit in schools

• Key goals of internal audit

• Ensuring auditor objectivity and avoiding conflicts of interest

• Planning effective audits: pre-audit planning, objectives, key transaction types

• Risk assessment and prioritisation

 

Session 2 – Conducting Audits and Reporting

• Audit sampling techniques and procedures

• Developing best practice for effective audits

• Recording findings and writing audit reports

• The 5 C’s of audit reporting: Clear, Concise, Correct, Constructive, Complete

• Ensuring objective and constructive comments

• Recommendations for improvement and continuous improvement techniques

 

Outcomes - By the end of the course, participants will:

• Understand the purpose and function of internal audit within a school

• Plan and conduct effective internal audits

• Apply risk assessment and sampling techniques appropriately

• Record findings clearly and objectively

• Produce audit reports using best practice reporting standards

• Make actionable recommendations to improve financial processes

• Gain confidence in performing internal audits and supporting smooth external audits

 

This course ensures school staff have the skills, procedures, and confidence to manage internal audits efficiently, strengthen governance, and maintain robust financial controls in their school environment.