ISO 55001 Lead Auditor Training

The ISO 55001 Lead Auditor Course offers advanced training for professionals who conduct or manage audits of Asset Management Systems. Built around the ISO 55001 standard, this course teaches how to plan, execute, and report internal or external audits. It’s ideal for those in asset-intensive sectors who need to ensure regulatory compliance, performance improvement, and alignment with organisational objectives. 

Key Topics Covered 

• Understanding ISO 55001: Structure, purpose, and asset management context for effective auditing 

• Audit Principles & Practices: Planning, conducting, reporting, and following up audits as per ISO 19011

• Risk and Lifecycle Assessment: Evaluating asset performance, condition, and associated risks during audits

• Audit Reporting and Improvement: Identifying non-conformities, writing audit reports, and supporting continual improvement

Course Benefits 

• Audit Authority: Build capability to lead external and internal asset management audits 

• Operational Insight: Improve understanding of how assets drive value and risk

• Compliance Support: Ensure conformance with ISO 55001 and relevant legal standards

• Career Growth: Valuable for professionals advancing into senior audit, compliance, or AMS roles

This course is ideal for professionals responsible for asset governance or compliance, such as: 

• Lead Auditors and Internal Auditors 

• Asset Managers and AMS Consultants 

• Risk and Compliance Officers 

• Facilities and Infrastructure Leaders 

• Engineers in asset-intensive sectors 

• Quality and Business Improvement Managers 

Module 1: Introduction to ISO 55001

• Introduction
• Scope
• Terms and Definitions

Module 2: Asset Management System

• 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
• 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
• Case Study

Module 11: Planning

• Actions to Address Risks and Opportunities for the Asset Management System
• Asset Management Objectives and Planning to Achieve Them

Module 12: Support

• Resources
• Competence
• Awareness
• Communication
• Information Requirements
• Documented Information

Module 13: Operation

• Operational Planning and Control
• Management of Change
• Outsourcing

Module 14: Implementation of an AMS

• Strategies for Implementation
• Approaches to Implementing an Asset Management Program
• Steps to Implementing an Asset Management Program
• Communication in Asset Management
• Economic Analysis in Asset Management
• Risk Assessment and Asset Management
• Role of Preservation in Asset Management
• Case Study

Module 15: Introduction to Lead Auditor

• Lead Auditor
• Role of Lead Auditor

Module 16: Performance Evaluation

• Monitoring, Measurement, Analysis, and Evaluation
• Internal Audit
• Management Review

Module 17: Improvement

• Nonconformity and Corrective Action
• Preventive Action
• Continual Improvement

Module 18: Conducting an Audit

• Initiating Audit
• Preparing Audit Activities
• Conducting Audit Activities
• Preparing and Distributing Audit Report
• Completing Audit
• Conducting Audit Follow-Up
• Case Study

By the end of the course, learners will be able to:

• Lead and manage ISO 55001 audits in line with ISO 19011 and ISO 17021
• Evaluate asset management controls, risks, and decision-making
• Identify non-conformities and recommend corrective actions
• Prepare and present audit findings to senior stakeholders
• Support certification, regulatory compliance, and operational improvement

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