Risk-Based Internal Auditing Techniques

Internal auditing is a profession that is always evolving, always changing, especially in the area of risk-based auditing approaches. This is why successful audit leaders know that it’s imperative that they continue to improve their skills in guiding their organizations risk-based auditing, while improving their current internal audit processes.

CONTENT

Role of Internal Audit

• Value of Internal Audit
• Definition of Internal Audit

Corporate Governance

• Framework for Corporate Governance
• Elements of a Good Ethics Program
• Assuring Corporate Governance

Risk Management

• Risk Management Assumptions
• Benefits of Risk Management
• Categories of Risk

Control and Risk Frameworks

• Standards
• Control Frameworks
• Factors and Points of Focus
• Limitations of Internal Control
• Roles and Responsibilities

Entity-wide Risk Assessment

• Standards
• Entity-wide Risk Assessment
• Business Process Definition
• Audit Planning

Risk-based Audit Engagement

• Performing the Engagement
• Business Process Objective
• Risks to the Business Processes
• Identifying Risk Events
• Managing Risk /Identifying Controls

FOR WHOM:

Chief Audit Executives, Audit Directors, Audit Managers, Audit Team Leaders, and Internal            Auditors who want to initiate risk-based auditing in their organizations or improve their current internal audit processes, Internal Auditors and Consultants who want to improve their skills in     risk-based auditing approaches.

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.