Course information

ISO 55001 Internal Auditor Training Course Outline

Module 1: Introduction to ISO 55001

  • Introduction
  • Scope
  • Normative Reference
  • Terms and Definitions

Module 2: Asset Management System (AMS)

  • What is Asset Management System?
  • Importance of Asset Management
  • How Does Asset Management Work?
  • Why Use an Asset Management System?
  • Developing a Strategic Asset Management Plan
  • Benefits of Asset Management

Module 3: Types of Asset Management

  • Financial Asset Management
  • Enterprise Asset Management
  • Infrastructure Asset Management
  • IT Asset Management
  • Digital Asset Management
  • Software Asset Management

Module 4: Context of the Organisation

  • Understanding the Organisation and its Context
  • Understanding the Needs and Expectations of Stakeholders
  • Determining the Scope of the Asset Management System
  • Asset Management System

Module 5: Leadership

  • Leadership and Commitment
  • Policy
  • Organisational Roles, Responsibilities, and Authorities

Module 6: Asset Lifecycle

  • Introduction
  • Planning
  • Acquisition
  • Operation and Maintenance
  • Disposal

Module 7: Asset Management Terminology

  • Asset
  • Asset Usage
  • Asset Reuse
  • Robust Asset
  • Reusable Asset
  • Ad-Hoc Reuse
  • Engineered Reuse

Module 8: Internal Audit

  • Introduction
  • Internal Auditor (IA)
  • Internal Audit Process
  • Types of Internal Audit
  • Internal Audit Functions
  • Internal Auditor Vs External Auditor

Module 9: Audit Planning

  • Planning Process
  • Audit Universe
  • Risk Assessment Methodology
  • Strategic Audit Plan
  • Annual Audit Plan
  • Execution
  • Audit Engagement
  • Audit Objectives and Scope
  • Audit Program and Working Papers
  • Assessment, Evidence, and Supervision
  • Closing Meeting
  • Reporting

Module 10: Asset Auditing

  • What is Assets Auditing?
  • Objective of Asset Auditing
  • How to Perform an Asset Audit?
  • Benefits of Asset Auditing

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Who should attend this ISO 55001 Internal Auditor Training Course? 

The ISO 55001 Internal Auditor Training Course is designed to provide participants with the skills and knowledge needed to conduct internal audits on an organisation's Asset Management System, based on the ISO 55001 Standard. Here are the individuals who might benefit from attending an ISO 55001 Internal Auditor Training Course:

  • Asset Managers
  • Existing Internal Auditors
  • Operational Managers
  • Maintenance Managers
  • Quality Assurance Professionals
  • Management Representatives
  • Consultants
  • Project Managers

Prerequisites of the ISO 55001 Internal Auditor Training Course

There are no formal prerequisites for attending this ISO 55001 Internal Auditor Training Course. 

ISO 55001 Internal Auditor Training Course Overview

ISO 55001 is an international standard that specifies the need to establish, implement, maintain, and improve management systems for asset management. An asset management system is a method that an organisation uses for managing entire assets within an organisation. An internal auditor is responsible for assessing the risk of an organisation, identifying shortfalls in the process, and ensuring the organisation is complying with relevant laws. The main aim of this training programme is to equip aspiring candidates with the standard ISO 55001 on asset management and the skills required to perform an internal audit. Holding the knowledge of asset management with ISO 55001 and the skills of internal asset audit will enable individuals to get the desired designations as an internal auditor and other higher prospects.

This 2-day ISO 55001 Internal Auditor Training course provides delegates with the core concepts of internal auditing and how to perform it. While attending this training course, delegates will attain an understanding of asset management systems that manage all the assets within an organisation. They will also understand asset auditing, which assesses the effectiveness and adequacy of internal controls over assets. Our highly skilled instructor with years of teaching experience will conduct this session and become familiar with asset management and auditing.

Course Objectives

  • To assess an organisation’s ability to meet regulatory and legal requirements
  • To lay the groundwork for an audit plan and execution in an internal audit
  • To learn how assets can be kept safe from unauthorised access and theft with auditing
  • To create a long-term plan of internal audit using a strategic audit plan
  • To assess and mitigate risks with a more actionable annual audit plan
  • To locate and confirm the accuracy of an organisation's asset list

At the end of this training course, delegates will be able to perform internal asset auditing for locating, counting, and validating a company’s assets. They will also be able to manage assets from remote locations and provide information on the assets' lifecycle.

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What’s included in this ISO 55001 Internal Auditor Training Course?

  • World-Class Training Sessions from Experienced Instructors
  • ISO 55001 Internal Auditor Training Certificate
  • Digital Delegate Pack

ISO 55001 Internal Auditor Exam Information 

To achieve the ISO 55001 Lead Auditor Training, candidates will need to sit for an examination. The exam format is as follows: 

  • Question Type: Multiple Choice 
  • Total Questions: 30 
  • Total Marks: 30 Marks 
  • Pass Mark: 50%, or 15/30 Marks 
  • Duration: 40 Minutes  

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Montreal is the largest city in the province of Quebec and is the 9th largest city in the whole of the continent of North America. The city is named after the hill in the heart on the city called Mount Royal. It has and estimated population of roughly 1.65 million people. Education in Canada is mostly free and publicly funded. It is overseen by the federal, provincial and local governments, with the education within provincial jurisdiction and the curriculum overseen by the province. Education is compulsory in most provinces up to the age of 16. Parents can choose between sending their children to one of the public schools or they can sent them to a fee paying private school. Those who live in Montreal and find that picking a secondary school is a fraught decision involving school zones and ratings. Royal West Academy is one of the most prestigious schools in Montreal. It is a public Anglophone secondary school that performs excellently academically. Royal West Academy is part of the English Montreal School Board. The schools mission is to provide a structured environment for those who are committed to academic study. They offer top computer training courses and have an appreciation for the arts, social issues and community responsibilities. To enter this school students must pass an entrance exam due to the limit places that are available. Canada’s higher has a very good reputation. However there is no formal ranking system and students will often choose colleges and universities bases on geographic convenience and the reputation of a particular course. Montreal has the highest concentration of post-secondary students of all major cities in North America. There are 4 universities, seven degree awarding institutions and 12 CEGEPS (publicly funded pre‑university college in the province of Quebec) in a 5 mile radius. The University of Montreal is the second largest research university in the country. It is ranked 115th in the world and is the 5th highest ranked Canadian university in the world rankings. The university is affiliated with two other higher education institutions in the area; the École Polytechnique de Montréal (School of Engineering) and HEC Montréal (School of Business). The school of business is widely regarded as being one of the best business schools in Canada. The University of Montreal is a Francophone institute which means the lessons are taught predominantly in French.

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Address

Regus,
2001 University Street, Suite 1700
Montreal
Quebec
H3A 2A6

T: +1 6474932992

Ways to take this course

Experience live, interactive learning from home with The Knowledge Academy's Online Instructor-led ISO 55001 Internal Auditor Training | ISO 55001 Training in Montreal. Engage directly with expert instructors, mirroring the classroom schedule for a comprehensive learning journey. Enjoy the convenience of virtual learning without compromising on the quality of interaction.

Unlock your potential with The Knowledge Academy's ISO 55001 Internal Auditor Training | ISO 55001 Training in Montreal, accessible anytime, anywhere on any device. Enjoy 90 days of online course access, extendable upon request, and benefit from the support of our expert trainers. Elevate your skills at your own pace with our Online Self-paced sessions.

Streamline large-scale training requirements with The Knowledge Academy's In-house/Onsite at your business premises. Experience expert-led classroom learning from the comfort of your workplace and engage professional development.

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ISO 55001 Internal Auditor Training | ISO 55001 Training in Montreal FAQs

ISO 55001 is an international standard that specifies the need to establish, implement, maintain, and improve management systems for asset management.
There are no formal prerequisites for attending this ISO 55001 Internal Auditor Training course.
This course is designed for everyone who wishes to gain knowledge of asset management systems through the ISO 55001 standard and internal auditing.
An asset management system is a method that an organisation uses for managing the entire tangible or intangible assets within an organisation.
A good asset management system offers the ability to monitor and track every asset in the organisation, identify and manage assets from remote locations, and plan maintenance schedules for each asset.
Risk management skills, problem-solving skills, accounting experience, project management skills, communication skills, leadership skills, and data analytics are the skills required to be an internal auditor.
In this ISO 55001 Internal Auditor Training course, you will learn about ISO 55001, asset management systems, types of asset management, the context of an organisation, leadership, asset lifecycle, internal auditing, audit planning, asset auditing, and other interesting topics related to ISO 55001.
The training fees for ISO 55001 Internal Auditor Training certification in Montreal starts from CAD3095
The Knowledge Academy is the Leading global training provider for ISO 55001 Internal Auditor Training.
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"Really good course and well organised. Trainer was great with a sense of humour - his experience allowed a free flowing course, structured to help you gain as much information & relevant experience whilst helping prepare you for the exam"

Joshua Davies, Thames Water

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