Advanced Risk – Based Auditing

An essential skill of any successful auditor is being able to understand risk concepts and applying them to the audit process. Auditors often get into the habit of being ‘checker’s and fail to answer the question ‘so what’. This workshop focuses on risk concepts including residual risk, where at risk and risk significance. It also looks at the importance of being able to promote your recommendations and to focus on high-risk area of the organization. It looks at how organizations manage risk, identifying the internal auditor’s approach to risk assessment identifying red flags and completing the risk matrix.

CONTENT

· Key risk concepts

· Organizations approach to risk management

· Audit’s Approach to risk assessment

· Risk Responses

· Relationship of key business Risk and Internal Control

· Residual Risk, Inherent Risk and Risk Significance

· The Risk Organizational Structure

· Developing an ERM Audit Process

· Effective Report Format

·Selling your Concept to the management key IT Infrastructure Risks and Controls

FOR WHOM: Internal Auditors, all those responsible for compliance operations and risk management

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties