D562 Internal Auditing II continues the internal audit sequence in WGU's Master of Science in Accounting Auditing specialization. WGU says it covers the competencies expected of an internal audit professional in the business world.
It follows the Institute of Internal Auditors' International Professional Practices Framework, focusing on the internal audit activity, planning, performing and communicating the engagement, and monitoring progress. The challenge is thinking through a whole engagement from start to finish.
Course at a Glance
| Item | Details |
|---|---|
| University | Western Governors University (WGU) |
| Course | D562 Internal Auditing II |
| Level | Graduate (MS Accounting, Auditing track) |
| Competency units | 3, term 3 of the standard path |
| Builds on | Internal Auditing I |
| Typical work | Engagement planning and reporting tasks |
What D562 Covers
| Competency (summarized) | In practice |
|---|---|
| Plan an internal audit engagement | Scope, objectives, risks, resources and approach |
| Perform an engagement through information gathering, analysis and evaluation | Collecting evidence and testing controls |
| Communicate engagement results | Findings, advice and follow-up |
Key Concepts Explained
Engagement Planning
Planning starts with understanding the area, its objectives and its risks. The plan then sets scope, timing, staff and the procedures to be used.
Example: Auditing procurement, the objective might be that purchases are authorized and received. Key risks include unapproved suppliers and duplicate payments, so planned tests include supplier approval checks and a duplicate-invoice analysis.
Evidence
Good evidence is relevant, reliable and sufficient. Documents from outside the organization are generally more reliable than internally produced ones.
Reporting Findings
A well-formed finding states the condition, criteria, cause, effect and recommendation.
Example: Condition: 12 of 60 invoices lacked approval. Criteria: policy requires manager approval. Cause: workflow allowed bypass. Effect: risk of unauthorised payments. Recommendation: enforce approval in the system.
Typical Assignments and How to Approach Them
| Task | What it tests | How to approach it |
|---|---|---|
| Engagement plan | Linking risk to procedures | Start from objectives and key risks |
| Evidence evaluation | Judging reliability and sufficiency | Rank sources and note limits |
| Audit report | Clear communication | Use condition, criteria, cause, effect, advice |
Following the Engagement from Start to Finish
A useful habit is to trace one risk through every phase. Identify it during planning, choose a test for it, record the evidence, state the finding and write the recommendation. Showing that chain demonstrates that you understand the process.
Keep report language objective and specific. Avoid blame; describe conditions and their effect so management can act.
Where D562 Sits in the Program
Internal Auditing II is in term 3 of the Auditing specialization, alongside Internal Auditing I and Advanced Auditing. Part I gives you the language of governance, risk and control. Part II asks you to use it to run an engagement, which is a different skill: you decide what to examine, how to test it and how to report.
Choosing Audit Procedures
| Procedure | Typical use | Limit |
|---|---|---|
| Inquiry | Understanding how a process works | Needs corroboration |
| Observation | Seeing a control operate | Shows one point in time |
| Inspection of records | Testing approvals and documentation | Records can be incomplete |
| Retesting or analytics | Testing calculations and large populations | Depends on data quality |
A strong plan combines several procedures for each key risk, because one source of evidence is rarely enough.
Communicating with Management
The third competency is about communicating results. Reports should be accurate, objective, clear, concise and timely, and should give management a practical route to act. Before final issue, discuss draft findings with the area audited to confirm the facts, then agree an owner and a date for each action.
Example: Rather than "improve vendor controls", a recommendation might read "The procurement manager should require system-enforced approval of new suppliers by a second person before first payment, by the end of next quarter." It names who, what and when, which makes follow-up possible.
Where Students Get Stuck
- Plans that list procedures without risks.
- Weak findings. Missing cause or effect reduces value.
- Overlooking follow-up. Monitoring is part of the framework.
- Confusing the phases.
Study Tips for D562
- Review Internal Auditing I governance and control material first.
- Draft an engagement plan template.
- Practice writing five-part findings.
- Check your course materials for the current framework wording.
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Frequently Asked Questions
WGU's MS Accounting Auditing specialization, in term 3.
The IIA International Professional Practices Framework.
Plan, perform and communicate an internal audit engagement.
Part I covers foundations; Part II covers the engagement process.
No. We provide tutoring and study models only.
Condition, criteria, cause, effect and recommendation.