ISO 55001 Asset Management System Internal Auditor

Module 1: Introduction to Asset Management Auditing

• Asset management concepts
• Types of organisational assets
• Asset value
• Asset lifecycle
• Purpose of asset management auditing
• Organisational benefits

Module 2: Understanding ISO 55001

• Purpose of ISO 55001
• Scope and application
• Key terminology
• Asset Management System approach
• Value-based asset management
• Organisational application

Module 3: Asset Management System Framework

• Organisational context
• Leadership
• Planning
• Support
• Operations
• Performance and improvement

Module 4: Organisational Context & Interested Parties

• Internal issues
• External issues
• Interested parties
• Stakeholder expectations
• Asset-related requirements
• Asset Management System scope

Module 5: Leadership, Policy & Asset Objectives

• Leadership commitment
• Asset management policy
• Roles and responsibilities
• Strategic alignment
• Asset management objectives
• Organisational accountability

Module 6: Internal Audit Fundamentals

• Purpose of internal auditing
• Audit principles
• Independence
• Objectivity
• Confidentiality
• Evidence-based auditing

Module 7: Auditor Roles & Responsibilities

• Auditor competence
• Professional behaviour
• Impartiality
• Professional judgement
• Communication
• Maintaining confidentiality

Module 8: Establishing Audit Objectives & Scope

• Audit objectives
• Audit scope
• Audit boundaries
• Audit criteria
• Relevant processes
• Audit priorities

Module 9: Risk-Based Audit Planning

• Critical assets
• Asset-related risks
• High-risk processes
• Previous findings
• Performance concerns
• Audit priorities

Module 10: Preparing for the Internal Audit

• Documentation review
• Asset information review
• Audit plans
• Audit checklists
• Sampling approaches
• Working documents

Module 11: Conducting Opening Meetings

• Introductions
• Confirming objectives
• Confirming scope
• Audit methodology
• Communication arrangements
• Audit schedule

Module 12: Gathering & Verifying Audit Evidence

• Interviews
• Observation
• Document review
• Asset records
• Sampling
• Evidence verification

Module 13: Auditing Strategic Asset Management Planning

• Strategic alignment
• Asset management objectives
• Asset priorities
• Asset management plans
• Resource considerations
• Performance expectations

Module 14: Auditing Asset Risks & Opportunities

• Risk identification
• Risk assessment
• Risk prioritisation
• Existing controls
• Risk treatment
• Opportunity management

Module 15: Auditing Asset Lifecycle Management

• Asset acquisition
• Commissioning
• Utilisation
• Maintenance
• Renewal and replacement
• Asset disposal

Module 16: Auditing Asset Information

• Asset registers
• Asset data
• Information requirements
• Data accuracy
• Documented information
• Information controls

Module 17: Auditing Operational Controls

• Operational requirements
• Asset operating criteria
• Maintenance controls
• Process controls
• Management of change
• Control effectiveness

Module 18: Auditing Asset Performance

• Asset condition
• Reliability
• Availability
• Performance indicators
• Monitoring and measurement
• Performance trends

Module 19: Auditing Resources & Competence

• Resource availability
• Competence requirements
• Training
• Awareness
• Responsibilities
• Competence records

Module 20: Developing Audit Findings

• Evaluating evidence
• Conformity
• Nonconformity
• Audit observations
• Finding statements
• Supporting evidence

Module 21: Audit Reporting & Corrective Actions

• Audit report structure
• Audit conclusions
• Reporting findings
• Root cause analysis
• Corrective action review
• Effectiveness verification

Module 22: Audit Follow-Up & Continual Improvement

• Follow-up activities
• Reviewing corrective actions
• Closing findings
• Recurring asset issues
• Improvement opportunities
• Continual Asset Management System improvement