Risk Based Internal Auditing

Heads of Audit

Audit managers

Senior auditors and team leaders

Auditors responsible for developing or implementing a risk-based approach

Other assurance professionals such as those in Compliance and QA functions who are wanting to develop their Risk based approach

Managers and Directors of business functions – to aid their knowledge of a risk-based audit approach

No formal prerequisites are required. Relevant education or industry experience is beneficial.

Risk Based Auditing in the Modern Era

The modern risk-based audit (RBA) approach

How risk-based audit has changed the face of auditing

The importance of dealing with the audit risks not just the business risks

RBA and ERM (Enterprise risk management)

The ISO 31000 international risk standard

Auditing strategic risks

Evaluating the ERM (Enterprise Risk Management) Process

Risk Workshops

Other methods of risk identification (including root cause analysis and Monte Carlo analysis)

Assessment of Risk Mitigation

Determining the preventative, detective and corrective controls

Auditing the ERM process

Assessing the Key risk indicators

Risk Based Audit Planning

The Internal audit strategy

The audit Universe

Preparing a strategic audit plan

RBA KPI’s

Developing the annual plans

The use of audit technology (CAAT’s)

Risk Based Auditing in Practice

Planning a risk-based audit (Initial brainstorming)

The risk-based audit step by step

The RBA programme – worked example

The RBA deliverables

Monitoring of action plans

Determining an audit risk and control assessment

Risk Based Audits of Complex Activities

Auditing brand and reputation

Risk based audit of projects

Reviewing joint ventures

Environmental auditing

Auditing the marketing function

Auditing performance management