IAP - NSE Academy

I. Executive Summary
This report provides a comprehensive strategic analysis of the Executive Program in
Internal Audit Practices (EP FAFA/EPFA), a collaborative effort between NSE Academy
and Grant Thornton Bharat. The analysis encompasses a detailed competitor
benchmarking, an in-depth exploration of buyer and learner personas within the
Internal Audit, Compliance, and Governance domains, and an assessment of emerging
trends shaping the future of internal audit learning. Key findings reveal that while the
Internal Audit Practices program benefits from strong institutional backing from NSE
Academy and Grant Thornton, and offers competitive pricing and a flexible duration,
there are opportunities to enhance perceived depth in advanced technological
applications, clarify its relationship with global professional certifications, and further
refine its outcome-oriented messaging. Learner personas highlight a diverse set of
needs, ranging from early-career professionals seeking foundational and practical
skills to senior executives requiring strategic insights into governance and emerging
risks. The report concludes with a set of actionable recommendations aimed at
strengthening technology integration, clarifying certification pathways, refining
program messaging, and deepening practical scope in specialized areas. These
strategic imperatives are designed to bolster the program's competitive position,
meet evolving learner demands, and capitalize on significant market shifts in internal
audit education.

II. Introduction
The internal audit landscape is undergoing rapid transformation, driven by
technological advancements, evolving regulatory frameworks, and a heightened
demand for specialized skills in areas like cybersecurity, data analytics, and
sustainability. In this environment, executive programs must continually adapt to
remain relevant and competitive. This report is commissioned to provide a strategic
assessment of the Executive Program in Internal Audit Practices (EP FAFA/EPFA). The
primary objective of this analysis is to map the competitive environment, understand
the motivations and preferences of target learners, evaluate the existing program, and
offer detailed recommendations for improvisation. Furthermore, it addresses the
optional goal of identifying key emerging trends in internal audit learning that will
influence future program design and delivery. The insights derived from this report are
intended to inform strategic decisions, optimize program offerings, and reinforce
leadership in executive education.

III. Competitor Landscape Mapping & Benchmarking

This section provides a meticulous examination of the competitive environment for the
Executive Program in Internal Audit Practices. It offers a clear understanding of market
positioning, identifying both strengths and potential areas for enhancement by
comparing the program against prominent global and Indian competitors across
standardized criteria.

A. Overview of the NSE Academy & Grant Thornton Internal Audit Practices
Bootcamp
The Internal Audit Practices bootcamp, a collaborative offering by NSE Academy and
Grant Thornton Bharat, is designed to equip participants with in-depth knowledge and
practical skills in the dynamic field of internal audit.1

Program Focus
The bootcamp's core focus is on providing a thorough understanding of internal audit
practices, from planning to execution, reporting, governance, risk management, and
control.1 It emphasizes exposure to global audit frameworks such as ISPPIA
(International Standards for the Professional Practice of Internal Auditing), COSO
(Committee of Sponsoring Organizations), and COBIT (Control Objectives for
Information and Related Technology), along with GDPR Compliance.1 The curriculum
also delves into emerging areas like data analytics, cybersecurity, automation,
blockchain, and sustainability in auditing.1 A dedicated power session explores the
applications of Artificial Intelligence (AI) in internal audit, demonstrating how AI-driven
tools can enhance decision-making, improve assessment, and streamline practices.1

Target Audience
The bootcamp is tailored for a diverse group of professionals and students seeking to
enhance their expertise in internal audit. Ideal candidates include Risk Management
Professionals, Compliance Professionals, Finance Managers and Controllers,
Corporate Governance Professionals, Auditing Aspirants, and CA (Chartered
Accountant) and CS (Company Secretary) Students, as well as Management and
Commerce Students.1

Curriculum Highlights
The bootcamp's curriculum is structured across three main components: live online
modules, a virtual practical experience (VPE), and a specialized power session.1 The
Live Online Modules span two months, conducted over eight weekends (Saturday &
Sunday), totaling 32 hours of instruction from 6:30 PM to 10:30 PM IST, with access to
recordings provided.1 Key modules include:
●​ Foundations of Internal Auditing: Covering introduction to internal auditing,
standards, process, risk management, ethical considerations, types of audits, and
tools.1
●​ Key Auditing Principles: Discussing auditing principles (5Ps and 5Cs),
standards, frameworks, and guiding principles.1
●​ Governance, Risk Management & Control: Focusing on corporate governance,
roles, ethics, policies, risk identification, assessment, analysis, mitigation, and
fraud prevention. This module includes workshops on drafting Risk and Control
Matrix (RCM), Standard Operating Procedure (SOP), risk assessment for IA, and
ERM assessment.1
●​ Managing the Internal Audit Activity: Covering stakeholder engagement,
managing the audit team, quality assurance, collaboration with external auditors,
and finalizing engagement letters.1
●​ Planning the Audit Engagement: Including understanding objectives, identifying
and assessing risks, establishing scope, developing the plan, gathering
background information, and preparing the work program.1
●​ Performing the Audit Engagement: Detailing pre-audit meetings, conducting
the audit, using technology, fraud detection, follow-up, and benchmarking. This
module includes workshops on identifying red flags and suggesting anti-fraud
controls.1
●​ Communicating Audit Results: Focusing on audience understanding, report
structuring, effective communication, conflict resolution, leveraging technology,
and cultural sensitivity. This module includes a workshop on drafting audit
observations.1
●​ Business Acumen and Financial Management in Auditing: Covering
organizational objectives, industry analysis, financial statement analysis,
budgeting, forecasting, investment appraisal, and financial risk management.1
●​ Information Security and Technology in Auditing: Discussing importance of
information security, technological advancements, challenges in the digital age,
integration of cybersecurity, best practices for safeguarding information,
compliance, and evaluating third-party cybersecurity risks.1
●​ Industry Trends, Practices, Ethics & Technology: Exploring industry trends,
evolving business practices, sector-specific innovations, technological
implications, and sustainability as a core competency.1
The Virtual Practical Experience (VPE) is a one-month live online component
designed for immersive, practical application of concepts in a simulated industry
environment, culminating in a certificate upon successful completion of a live project
report, analysis, and presentation.1 The Power Session on Applications of AI in
Internal Audit is a 2-hour live online session that explores how AI-driven tools like
machine learning and predictive analytics enhance decision-making, improve internal
audit assessment, and streamline internal audit practices.1

Pricing and Duration

The total duration of the bootcamp is three months.1 The fee for the program is INR
40,000/- plus GST.1 Corporate pricing and scholarship options are available upon
contacting NSE Academy.1 The bootcamp is advertised to commence in August 2025.1

Certification Partners
Upon successful completion and passing the online summative assessment,
participants receive a joint Certificate of Completion from NSE Academy and Grant
Thornton Bharat.1 A Certificate of Participation is issued for those who do not pass the
assessment.1 The Virtual Practical Experience also awards a separate certificate
administered by Grant Thornton Bharat LLP.1 The program also highlights the
opportunity to get membership from the Institute of Internal Auditors, India.1

Marketing Approach
The marketing strategy for the bootcamp emphasizes its role in transforming internal
audit functions beyond assurance, offering valuable insights and proactively
anticipating risks, aligning with the growing importance of internal audit in India.1 It
promotes "Practical Pedagogy" through "Virtual Practical Experience, Case studies
and hands-on exercises for effective learning".1 "Interactive sessions led by seasoned
industry practitioners" and "Networking Opportunities" with peers and industry
leaders are also highlighted.1 The program leverages the involvement of Grant
Thornton, a global organization, and NSE Academy, a subsidiary of the National Stock
Exchange, to convey credibility and industry relevance.1 The opportunity to gain
membership from the Institute of Internal Auditors, India, is also a key marketing
point.1

B. Global Competitor Analysis:

●​ The Institute of Internal Auditors (IIA) - Certified Internal Auditor (CIA)

Certification: This is recognized as the "only globally recognized certification for
 internal auditors," validating knowledge, skills, and competencies to perform
internal audits worldwide. It requires passing three computer-based exams and
accumulating 24 months of internal auditing experience (or equivalent, depending
on education level). The exams cover Internal Audit Fundamentals, Internal Audit
Engagement, and Internal Audit Function, including topics like governance, risk
management, internal control, IT, and business ethics. The CIA targets auditors at
any career level, including Chief Audit Executives, Audit Managers, Audit Staff,
and Risk Management Staff, as well as students. Marketing emphasizes its global
recognition, boosting resumes, gaining credibility, and higher earning potential
(CIAs earn, on average, $38,000 more per year than non-certified peers).
●​ PwC Academy - CIA Certification Training: Offers comprehensive virtual
training for CIA Parts I, II, and III, designed to help participants master the
curriculum and pass the certification. The training includes over 50 hours of
virtual training per part, mock exams, live-online classroom sessions, and
Gleim/Wiley study materials. It targets auditors at any career level and students.
The program can be completed within 9-12 months, but certification requires 24
months of internal auditing experience. Marketing positions the CIA as the "gold
standard" and emphasizes expert trainers and an end-to-end exam-focused
experience.
●​ KPMG - Audit Training Programs: Primarily internal training programs for KPMG
audit professionals, focusing on continuous learning, advanced technology, and
upskilling in data extraction, visualization, transformation technologies, and AI
learning. Programs like "Audit Foundations" (a one-week program for first-year
associates) and "Road to In Charge" are offered. They utilize proprietary
technologies like "KPMG Clara" and "KPMG Audit Chat" (a generative AI tool).
KPMG also supports CPA certification for its employees. Marketing emphasizes a
high-performance culture, professional development, and access to advanced
technology.
●​ Deloitte Academy - Internal Audit Courses: Offers various training services,
including "Internal Audit – Emerging practices and Internal Audit of the Future,"
"Auditing AML / CFT program," "Auditing Compliance Program," and "Auditing
Operational and Fraud Risk Management". It also covers internal controls and data
analytics for audit, with sessions on applying data analytics to identify trends,
outliers, and anomalies. Program durations range from 1 to 8 days. Pricing
averages $125 per hour per person, with certificates provided upon completion.
Marketing focuses on practical training, best practices, and understanding
regulatory requirements.
●​ Udemy - Internal Auditing Courses: Offers numerous self-paced online
courses, including those for CIA exam preparation. Courses cover internal
 auditing fundamentals, internal controls, risk management, compliance,
governance, IT auditing, and fraud analytics. Many courses are designed for CIA
exam prep, with some specifically on "AI-Powered Auditing". Pricing is highly
variable, often ranging from $12.99 to $79.99 per course, with durations from 1
hour to 45.5 hours. Marketing emphasizes "Bestseller" status, high ratings, expert
instructors, and practical content.
●​ The IIA Online Learning: The Institute of Internal Auditors (IIA) offers various
online learning options, including interactive courses, eSeminars, and OnDemand
content. Topics range from ethics and tools for new auditors to quality
assessment, financial auditing, and compliance auditing. Courses provide CPE
and NASBA credits. Marketing highlights flexibility, convenience, timely content,
and facilitator-led courses.
●​ IQPS - ISO Internal Auditor Training ONLINE Course: Offers globally
recognized remote internal audit courses, including ISO Internal Auditor Training
and IT Internal Auditor Training. The ISO Internal Auditor Training is a 16-hour
online, self-study course with 3 practical case studies and a competency exam,
covering ISO 9001:2015 overview, internal auditing processes, techniques,
checklist development, and risk-based management. Priced at $295 per person,
with discounts for groups. Marketing emphasizes global recognition, access from
anywhere, and specialized exam preparation.

C. Indian Competitor Analysis:

●​ ICAI (Institute of Chartered Accountants of India) - Certificate Course on

Internal Audit: A 7-day course with 4 hours/day commitment (total 28 hours),
designed to keep ICAI members updated on the dynamic nature of internal audit.
It covers key concepts like internal audit, internal control, and risk management,
basic principles, and internal audit technology. The course aims to help members
proactively use technology to harness information and knowledge. Pricing is
around INR 25,000. Marketing emphasizes staying updated with dynamic
changes and proactive use of technology.
●​ Madras University - Diploma in Internal Audit: A 2-year undergraduate-level
course with total tuition fees of ₹30,000 plus a one-time payment of ₹890. It
targets candidates who have completed any degree from Madras University or
equivalent. Specific curriculum highlights are not detailed in the provided
snippets, but it is a full-time UG Diploma. Marketing highlights its A++ NAAC
 accreditation and status as a State University.

D. Strategic Market Positioning Considerations

The competitive landscape for internal audit education is highly segmented, ranging
from globally recognized professional certifications to university degrees and flexible
edtech offerings. The NSE Academy & Grant Thornton program, positioned as a
3-month bootcamp at INR 40,000, occupies a unique middle ground.1 One key
observation is the strong emphasis on global recognition by professional
certifications like the CIA. The IIA explicitly markets the CIA as the "only globally
recognized certification for internal auditors," enabling professionals to perform
internal audits "anywhere in the world". This global portability is a significant draw for
ambitious professionals. While the NSE Academy & Grant Thornton program benefits
from the global association with Grant Thornton, its primary certification is from NSE
Academy and Grant Thornton Bharat, with an opportunity for membership from the
Institute of Internal Auditors, India.1 To compete effectively on a global scale, the
program needs to further articulate how its curriculum and joint certification translate
into international career opportunities or recognition, beyond just the Indian context.
This could involve highlighting global case studies, international guest speakers, or
pathways to international professional bodies. Another critical dynamic is the interplay
between academic rigor and practical application. Universities like the University of
New Orleans and UNLV offer IIA-endorsed programs, providing an academic
foundation often linked to specific degree pathways. Meanwhile, edtech platforms like
Udemy and The Knowledge Academy offer more concise, often self-paced, and
lower-cost options focusing on specific skills or exam preparation. Consulting firms
like PwC, Deloitte, and KPMG offer internal training programs that are highly practical
and technology-driven, often integrating AI and data analytics. The NSE Academy &
Grant Thornton program positions itself with "Practical Pedagogy" and "Virtual
Practical Experience" 1, which is a strong selling point. However, to stand out, it must
clearly demonstrate how its practical approach is superior to shorter edtech courses
and how it provides a more direct path to job-ready skills than traditional academic
programs, while still maintaining a strong theoretical foundation. Highlighting the
depth of its practical exercises and the real-world experience of its instructors,
beyond general statements, will be crucial. Finally, the increasing integration of
technology and emerging risks (AI, cybersecurity, ESG, data analytics) is a common
thread across many offerings. The NSE Academy & Grant Thornton program includes
these topics, which is a strength.1 However, the depth of coverage, especially for AI,
might be a point of differentiation. Competitors like Udemy offer dedicated
"AI-Powered Auditing" courses, and large consulting firms like KPMG are embedding
AI learning throughout their audit practices. To maintain a competitive edge, the NSE
Academy & Grant Thornton program should consider how to deepen its technology
integration, perhaps by offering more extensive hands-on AI applications or
specialized modules on auditing specific emerging technologies, thereby preparing
learners for the evolving demands of the internal audit profession.

IV. Buyer & Learner Persona Research

Understanding the motivations, goals, and decision drivers of prospective learners is
fundamental to tailoring the program's content, marketing, and delivery. This section
defines detailed personas across the Internal Audit, Compliance, and Governance
domains.

A. Persona 1: Early Career Audit/Compliance Professional/Student

Career Stage
These individuals typically possess 0-5 years of experience, holding roles such as
Junior Auditor, Compliance Assistant, or are currently CA/CS Students or
Management/Commerce Students.1 They are at a pivotal stage, actively seeking to
specialize or gain a competitive edge in the job market.

Learning Goals
Their primary objectives are to acquire foundational internal audit skills, understand
core audit processes (planning, execution, reporting), grasp global audit frameworks
(ISPPIA, COSO, COBIT), and become proficient in basic audit tools and techniques.1
Ultimately, their aim is to achieve clear career progression within the audit, finance, or
compliance sectors.

Motivators/Barriers

●​ Motivators: A strong desire for career advancement, increased employability in a

competitive market, and the potential for a higher salary are significant drivers.2
They are highly motivated by practical, hands-on skills that are immediately
applicable to their roles 1 and the prospect of gaining industry recognition from
reputable institutions like NSE Academy and Grant Thornton, and potentially IIA
membership.1
●​ Barriers: A major obstacle is the significant time commitment required, especially
 for those balancing studies with existing work responsibilities. Cost is also a
considerable factor, and they may perceive global certifications (like CIA) as
having higher long-term value, leading to questions about the bootcamp's
comparative return on investment.2

Preferred Formats
They generally prefer live online sessions for real-time interaction and structured
learning.1 Practical experience, workshops, and case studies are highly valued for skill
development.1 Credential-based learning is important for resume enhancement and
demonstrating competence.

Decision Drivers
Their decisions are driven by both skill acquisition (immediate applicability to current
or desired roles) and career outcomes (job prospects, potential salary increases).
Value for money and the reputation of the certifying bodies are also critical
considerations.

B. Persona 2: Mid-Career Internal Auditor/Risk/Compliance Professional

Career Stage
These professionals typically have 5-15 years of experience, holding roles such as
Internal Auditor, Risk Management Professional, Compliance Officer, or Finance
Manager.1 They are looking to update their skills, specialize in emerging audit areas, or
transition into more senior or leadership positions.

Learning Goals
Their goals include deepening expertise in specific audit domains (e.g., advanced IT
audit, cybersecurity audit, sustainability audit), understanding and adapting to
evolving regulatory changes (e.g., GDPR), mastering advanced audit tools and
technologies (e.g., data analytics, AI applications), and enhancing their strategic
decision-making capabilities in governance and risk oversight.1

Motivators/Barriers

●​ Motivators: A strong drive to stay relevant in a rapidly changing regulatory and

 technological landscape 1, upward career progression towards senior roles (e.g.,
Chief Audit Executive), the need to effectively address new and complex risks
(cybersecurity, ESG), and enhancing their professional credibility within the
industry.2
●​ Barriers: Significant time commitment is a major hurdle due to existing work
responsibilities. The high cost of specialized training needs to be justified by clear,
immediate applicability to their current role or desired career trajectory. They may
also be skeptical of "bootcamp" formats compared to more traditional,
longer-duration degrees or certifications like the CIA.

Preferred Formats
Live online sessions are preferred for their flexibility, allowing them to participate while
managing work.1 Expert-led sessions and opportunities for peer networking are highly
valued.1 Case studies that reflect real-world, complex scenarios are crucial for
practical application. Credential-based learning is important for formal recognition
and career advancement.

Decision Drivers
Their decisions are driven by both skill acquisition (mastery of new tools and
concepts) and career outcomes (securing promotions, leadership roles, and industry
recognition). The credibility of the instructors and partner institutions is paramount.

C. Persona 3: Senior Audit/Governance Leader/Executive

Career Stage
These individuals typically have 15+ years of experience, holding senior roles such as
Chief Audit Executive, Audit Manager, or Corporate Governance Professional. They are
responsible for strategic oversight and organizational resilience, particularly
concerning internal controls and risk assurance.

Learning Goals
Their learning objectives are focused on strategic oversight of enterprise-wide
internal audit functions, understanding macro-level trends and their implications for
governance and control, integrating internal audit into overall business strategy,
managing systemic risks, understanding the broader impact of AI/automation on audit
processes, and navigating complex compliance and sustainability reporting
requirements.3

Motivators/Barriers

●​ Motivators: The need to safeguard organizational financial well-being and

long-term stability 1, ensure regulatory compliance at a strategic level, drive
innovation in internal audit, and maintain a competitive advantage in a volatile
market.5 They are motivated by the ability to make informed, strategic decisions
and to lead their teams effectively through complex risk and control landscapes.
●​ Barriers: Extremely limited time availability is the primary barrier. They require
highly condensed, high-impact learning that focuses on strategic implications
rather than granular technical details. The perceived value must be exceptionally
high to justify the time investment. They may also prefer bespoke corporate
training solutions over public programs.

Preferred Formats
They prefer executive-level, concise programs, ideally with flexible scheduling (e.g.,
weekend sessions).1 Peer-to-peer learning and networking with other senior leaders
and industry experts are highly valued.1 Strategic case studies and discussions on
real-world challenges are preferred over detailed technical workshops.

Decision Drivers
Their decisions are almost entirely outcome-focused: strategic impact, organizational
resilience, and effective leadership in internal audit and governance. The reputation of
the institutions and the caliber of the instructors are paramount.

D. Persona 4: IT/Cybersecurity Audit Specialist

Career Stage
This persona includes professionals with varying years of experience (e.g., 2-10+
years) who specialize in the intersection of technology and audit, such as Information
Systems Auditors, IT Audit professionals, or Cybersecurity Risk Analysts.1 They are
keen to deepen their technical audit skills in a rapidly evolving digital landscape.

Learning Goals
Their goals are to master auditing IT infrastructure and controls, understand
cybersecurity compliance and regulatory frameworks, assess technology risks (e.g.,
cloud computing, virtualization), and leverage advanced tools like data analytics and
AI for IT audit. They aim to differentiate themselves in the job market for specialized IT
audit roles.

Motivators/Barriers

●​ Motivators: High demand for specialized skills in IT and cybersecurity audit 7,

potential for higher earning capacity, desire to be at the forefront of digital risk
management, and the opportunity to gain a certificate from reputable
institutions.1 They are also motivated by the need to stay updated with new
technologies and their audit implications.
●​ Barriers: The technical complexity of the subject matter can be a barrier. They
require programs that offer deep dives into specific technologies and practical
application. Cost and time commitment must be justified by the specialized skill
acquisition and career opportunities.

Preferred Formats
They prefer a blend of theoretical foundations and practical applications, often
valuing hands-on experience with relevant tools and technologies. Programs that
offer in-depth modules on specific IT audit areas and case studies involving
real-world cyber scenarios are highly attractive. Credential-based learning is
important for validating their specialized skills.

Decision Drivers
Their decisions are driven by skill-focus (acquiring specific, in-demand technical audit
skills) and career outcomes (entry into specialized fields, competitive advantage). The
relevance of the curriculum to emerging IT and cybersecurity trends is a key factor.

V. Program Evaluation & Improvisation Suggestions for Internal

Audit Practices Program
This section provides a critical assessment of the Internal Audit Practices bootcamp,
drawing upon the insights from the competitor analysis and persona research. It
concludes with detailed, actionable recommendations for enhancement.
A. Overall Assessment of Current Program
The Internal Audit Practices bootcamp possesses several commendable strengths
that position it favorably in the market:
●​ Strong Institutional Backing: The collaboration between NSE Academy, a
subsidiary of the National Stock Exchange, and Grant Thornton Bharat, a global
consulting firm, lends substantial credibility and industry relevance.1 This
partnership provides a unique blend of financial market expertise and practical
consulting experience. The opportunity to get membership from the Institute of
Internal Auditors, India, further enhances its appeal.1
●​ Comprehensive and Modern Curriculum: The program covers foundational
concepts alongside critical emerging areas such as data analytics, cybersecurity,
blockchain, and sustainability in auditing.1 The inclusion of global audit
frameworks like ISPPIA, COSO, COBIT, and GDPR compliance ensures that
participants are well-versed in international standards and regulatory
requirements.1
●​ Practical Pedagogy: A key differentiator is the "Virtual Practical Experience" and
dedicated hours for hands-on case studies and analysis.1 This emphasis on
practical application, along with training on industry-relevant tools and
automation, directly addresses the market demand for job-ready skills.1 The
interactive sessions led by seasoned industry practitioners and networking
opportunities also contribute to a valuable learning experience.1
●​ Accessible Duration and Format: The program's 3-month duration, with live
online weekend sessions, strikes a balance, making it accessible to working
professionals who seek substantial knowledge without the multi-year
commitment of a full degree program or global certification.1

Despite these strengths, several areas for improvement have been identified through
the market analysis and persona research:
●​ Depth of Technology Integration: While AI and automation are mentioned and
included in a "power session," their integration could be deeper and more
hands-on. Moving beyond introductory sessions to embedded practical
applications throughout the curriculum is crucial, especially given the rapid
evolution of AI in internal audit.1
●​ Clarity on Certification Pathways: The program offers membership from the
Institute of Internal Auditors, India, but this is distinct from the globally recognized
Certified Internal Auditor (CIA) certification. The marketing could be clearer to
manage learner expectations and prevent any potential misinterpretation of the
credential's scope.1
●​ Outcome-Oriented Messaging: Opportunities exist to strengthen the program's
marketing by explicitly linking skill development to measurable career benefits
and specific roles, similar to how global certifications and IIM executive programs
market their offerings.
●​ Niche Specialization: While broad, there's an opportunity to develop more
specialized modules or tracks within the program, particularly in high-demand
areas like advanced cybersecurity audit or ESG audit, to attract highly targeted
learner personas.

B. Detailed Improvisation Suggestions for EP FAFA / EPFA

To enhance the Executive Program in Internal Audit Practices, the following
improvisations are suggested:
●​ Curriculum Enhancements:
○​ Comprehensive AI & Automation in Audit: Expand the current "Power
Session" into a full, in-depth module or integrate AI and automation tools (e.g.,
Robotic Process Automation for routine tasks, machine learning for anomaly
detection in transactions) into relevant audit process modules. Include
dedicated hands-on labs for practical application. Artificial intelligence and
automation are profoundly transforming audit functions, shifting from
traditional assurance towards proactive risk anticipation and enhanced
efficiency.
○​ Cybersecurity Audit Specialization: Deepen the "Information Security and
Technology in Auditing" module to cover advanced topics in cybersecurity
auditing. This should include a detailed exploration of cybersecurity
frameworks, incident response protocols, and the assessment of third-party
cybersecurity risks. Cybersecurity risk is a major and growing concern for
organizations, necessitating specialized audit skills in this area.7
○​ Advanced Data Analytics for Audit: Integrate advanced data analytics
techniques and tools beyond basic spreadsheet functions. This includes
methods for audit evidence collection, sophisticated fraud detection, and
continuous monitoring. Workshops on specific audit analytics software could
provide invaluable practical experience for participants.
○​ ESG Audit Considerations: Introduce a dedicated module or a significant
section focused on auditing ESG performance and reporting. This is crucial
given the increasing regulatory requirements for sustainability reporting and
the growing demand for ESG assurance. As sustainability reporting becomes
mandatory, internal auditors will play a pivotal role in ensuring the accuracy
 and compliance of ESG data.3
●​ Target Audience Refinement and Segmentation:
○​ Explicitly Target "IT Auditors" and "Data Auditors": Tailor marketing
messages to specifically attract professionals seeking to specialize in
technology-driven audit roles. Highlight the program's focus on digital tools
and cybersecurity.
○​ Position as CIA Prep Complement: Clearly articulate how the program's
curriculum aligns with or prepares learners for specific parts of the IIA CIA
exam. Leverage the included IIA India membership as a gateway to broader
professional development and resources within the internal audit community.
●​ Pricing Strategy Adjustments and Value Proposition:
○​ Value of IIA Membership: Clearly communicate the tangible benefits of the
included IIA India membership, such as access to exclusive resources,
networking opportunities with fellow professionals, and additional
professional development offerings.1
○​ Highlight Career Progression: Emphasize how the skills acquired through
the program lead to significant career advancement opportunities within
internal audit, particularly in specialized and high-demand areas like IT audit
or risk-based audit.
●​ Marketing Messaging and Channel Optimization:
○​ "Modern Auditor Toolkit": Position the program as providing the essential
tools and techniques for the modern internal auditor, with a strong emphasis
on AI, automation, and cybersecurity. This messaging speaks directly to the
evolving demands of the profession.
○​ Partnership with IIA India: Actively promote the partnership with the
Institute of Internal Auditors, India. This could involve joint webinars,
co-created content, or featuring IIA India representatives in program
promotional materials to underscore the program's alignment with
professional standards and community.1

VI. Emerging Trends Report

The internal audit landscape is undergoing rapid transformation, driven by
technological advancements, increasing regulatory complexity, and a growing
emphasis on sustainability. Understanding these emerging trends is crucial for the
continuous evolution of internal audit education.

A. Key Trends in Internal Audit Learning

●​ 1. AI and Automation in Internal Audit:​
Artificial Intelligence (AI) and automation are fundamentally reshaping internal
audit, moving from being supplementary tools to essential components for
efficiency and effectiveness.1 These technologies enable auditors to analyze vast
datasets, identify patterns, and automate repetitive tasks, leading to more precise
and efficient audits. Key applications include continuous auditing, enhanced risk
assessment, automated compliance checks, and fraud detection using AI
forensics and large language models (LLMs).8 Executive education must integrate
practical AI applications, offering hands-on training with AI tools for continuous
monitoring, anomaly detection, and compliance automation.
●​ 2. Cybersecurity and IT Audit:​
With the rapid digitization of business operations, cybersecurity and IT audit have
become paramount in internal audit practices.1 New technologies introduce new
vulnerabilities, necessitating stricter data protection laws and cybersecurity
regulations.7 Key aspects include integrating cybersecurity into the audit process,
evaluating third-party cybersecurity risks, and ensuring compliance with data
protection laws (e.g., GDPR).1 Auditors need to understand and evaluate an
organization's cybersecurity posture, including IT infrastructure, system software,
and control frameworks.1
●​ 3. ESG and Sustainability in Auditing:​
As Environmental, Social, and Governance (ESG) principles gain importance,
internal audit functions are increasingly incorporating sustainability
considerations into their scope.1 This trend is driven by growing demand for
accountability from stakeholders and emerging regulations.3 Key areas include
understanding sustainability as a core competency, carbon accounting
(quantifying greenhouse gas emissions across all scopes), and providing
assurance over sustainability data and reports in line with regulations like the EU's
Corporate Sustainability Reporting Directive (CSRD) and International
Sustainability Standards Board (ISSB).11
●​ 4. Data Analytics in Internal Audit:​
Data analytics is transforming internal audit by enabling auditors to analyze large
volumes of data to identify trends, outliers, and anomalies, leading to more
insightful and efficient audits. Key applications include automating test
procedures, continuous monitoring, enhanced risk identification, and data
visualization for clear communication of audit findings. Programs must equip
learners with skills in applying data analytics for audit evidence collection, fraud
detection, and predictive analytics to anticipate future risks.
 ●​ 5. Evolving Regulatory Landscape and Governance:​
The internal audit function is increasingly critical in navigating a rapidly changing
regulatory environment and strengthening corporate governance.1 Regulatory
bodies are mandating robust internal audit systems to ensure financial stability
and protect stakeholder interests.1 Key trends include increased regulatory
scrutiny, continuous adaptation to evolving standards (e.g., GDPR, Basel Accords,
IFRS), and the crucial role of internal audit in assessing and improving an
organization's Enterprise Risk Management (ERM) framework.7 Internal audit is
moving beyond traditional assurance to provide valuable insights on critical
business challenges and proactively anticipate risks, becoming an integral part of
strategic planning.5

B. Implications for Executive Education Program Design and Delivery

The identified trends in internal audit learning carry profound implications for the
design and delivery of executive education programs:
●​ Dynamic Curriculum Updates: Programs must be agile and equipped with
robust mechanisms for rapid curriculum updates. This is essential to reflect the
fast-changing regulatory landscapes, technological advancements, and emerging
best practices in internal audit.
●​ Hands-on & Experiential Learning: There must be an increased emphasis on
practical application through immersive simulations, real-world case studies, and
extensive hands-on exercises with relevant software and tools. This includes AI
platforms for data analysis, specialized audit software, and regulatory compliance
tools.
●​ Interdisciplinary Approach: Programs should adopt a truly interdisciplinary
approach, blending expertise from audit, technology, legal, and sustainability
domains. This reflects the interconnected nature of these fields in the real world
and prepares learners for complex, cross-functional challenges.
●​ Modular & Stackable Credentials: Offering shorter, specialized modules that
can be stacked to form broader certifications or advanced diplomas will cater to
professionals with specific learning needs, varying time constraints, and a desire
for incremental credentialing.
●​ Strong Industry-Academia Collaboration: Deepening partnerships with
industry experts, leading technology providers, and professional bodies is
paramount. Such collaborations ensure curriculum relevance, provide access to
cutting-edge tools and case studies, and can offer pathways to recognized
professional certifications.
●​ Focus on Ethical Considerations: Discussions on the ethical implications of
emerging technologies (e.g., AI bias in audit) and critical issues in ESG (e.g.,
greenwashing, social equity) must be integrated across all relevant modules. This
fosters responsible leadership and decision-making.

VII. Conclusion & Strategic Recommendations

The analysis of the Executive Program in Internal Audit Practices within the
competitive landscape, alongside an understanding of learner personas and emerging
industry trends, highlights a clear path for strategic enhancement. The program
possesses inherent strengths through its reputable partnerships and flexible delivery
model. However, to truly differentiate and capture a larger share of the evolving
executive education market, targeted improvisations are essential.

A. Synthesized Strategic Recommendations for EP FAFA / EPFA

To optimize the EP FAFA/EPFA program, the following strategic recommendations are
crucial:
●​ Strengthen Technology Integration as a Core Unique Selling Proposition:
The integration of AI, advanced data analytics, and automation tools must move
beyond introductory "power sessions." These technologies should be deeply
embedded into the curriculum through practical, hands-on modules and case
studies, focusing on areas like automated audit procedures, continuous
monitoring, and cybersecurity audit. This direct application of technology aligns
with the strong market demand for digitally proficient professionals in internal
audit.
●​ Clarify and Leverage Certification Pathways: Clearly articulate the distinction
between IIA India membership and the global CIA certification. Strategically
position the program as a strong foundational or complementary course for those
pursuing the CIA, highlighting how its curriculum covers relevant knowledge
areas. Explore opportunities for official recognition or alignment with parts of the
CIA curriculum.
●​ Refine Program Messaging for Specific Personas: Marketing language should
be meticulously tailored to resonate with the distinct motivations and career goals
of each identified learner persona. For instance, messaging for "IT/Cybersecurity
Audit Specialists" should emphasize "advanced technical skills" and "digital risk
management," while for "Senior Audit/Governance Leaders," it should focus on
"strategic oversight" and "organizational resilience."
●​ Deepen Practical Application in Key Emerging Areas: Enhance the practical
components related to specific emerging risks and technologies, such as
advanced cybersecurity audit frameworks, hands-on carbon accounting
verification, and the use of AI tools for fraud detection and compliance. This
ensures learners gain tangible, job-ready skills for navigating complex and
evolving audit environments.
●​ Leverage "Virtual Practical Experience" More Aggressively: The "Virtual
Practical Experience" is a significant differentiator, especially for busy working
professionals. This feature should be positioned as a key unique selling
proposition, with marketing efforts showcasing its effectiveness through detailed
demonstrations, compelling testimonials, and clear examples of how it simulates
real-world challenges and skill application.

B. Prioritized Action Plan for Immediate and Long-Term Implementation

To translate these strategic recommendations into tangible outcomes, a phased
action plan is proposed:
●​ Immediate (Next 3-6 Months):
○​ Curriculum Review Workshops: Convene dedicated workshops involving
current faculty, external industry experts (especially those specializing in AI
for audit, advanced cybersecurity, and ESG audit), and representatives from
NSE Academy and Grant Thornton. The primary objective will be to identify
specific areas where AI, advanced data analytics, and emerging regulatory
standards can be more deeply integrated and taught with a hands-on
approach.
○​ Marketing Message Audit: Conduct a thorough audit of existing marketing
collateral. Refine the messaging to clearly articulate the unique value
proposition for each identified learner persona, ensuring that benefits are
framed in terms of career outcomes, skill acquisition, and strategic impact.
This includes clarifying the distinction between IIA membership and CIA
certification.
○​ Explore Certification Alignment Discussions: Initiate preliminary
discussions with the Institute of Internal Auditors (IIA) to explore potential
pathways for curriculum alignment or official recognition of the program's
content as preparation for specific parts of the CIA exam.
●​ Long-Term (Next 6-18 Months):
○​ Develop Advanced Technology Modules/Tracks: Based on the curriculum
review, design and develop new, in-depth modules or specialized tracks
 focusing on advanced AI applications in internal audit, comprehensive
cybersecurity audit, and ESG audit. These should incorporate extensive
hands-on labs and project-based learning.
○​ Pilot Tiered/Modular Offerings: Introduce pilot versions of tiered program
offerings or standalone specialized modules in high-demand areas. This will
allow for market testing and feedback collection to refine pricing and content
before a full-scale rollout.
○​ Alumni Success Story Development: Actively collect and develop
compelling success stories and testimonials from past participants. These
narratives should highlight how the programs have directly contributed to
career advancement, successful project implementation, or significant
organizational impact, particularly in areas where new skills were applied.
○​ Continuous Market Intelligence System: Establish a robust system for
continuous monitoring of emerging trends in internal audit, competitor
offerings, and evolving learner needs. This proactive approach will ensure that
programs remain agile and responsive to market dynamics, maintaining a
competitive edge.