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Risk-Based Auditing

Risk-Based Auditing

BACKGROUND

It is important that auditors have the fundamental knowledge needed to become effective in performing risk-based internal audits. Foundational concepts such as the nature of risk, risk sources and categories, risk appetite and tolerances, and risk frameworks are necessary to help auditors understand the application to the audit engagement planning.

COURSE OBJECTIVE

To equip participants with an understanding of the role of the internal auditor in risk-based auditing. It also seeks to identify key risk and risk management concepts and principles as well as internal and external influences of risk. Participants will be able to identify well-known risk frameworks, including COSO and ISO 31000 and also be in a position to explain the importance of risk appetite and risk tolerance.

COURSE CONTENT

  1. Risk-based Internal Auditing: An Overview;
  2. Risk Based Internal Auditing – Background;
  3. Risk Management Understanding Risk;
  4. Understanding COSO;
  5. Basic concepts of risk management;
  6. ERM – Enterprise-Wide Risk Management;
  7. Risk Maturity;

viii.Using a Risk-Based Internal Audit (RBIA) Methodology;

  1. Stages of RBIA;
  2. Model Process for Assessing & Evaluating Risks;
  3. Risk Assessment Tools; and

xii. Internal Audit Process. TARGET GROUP

  1. Board members, especially risk and audit committee chairs and members
  2. Chief Risk Officers
  3. Heads of market, credit, and operational risk
  4. Head of Risk Management
  5. Chief Compliance Officers
  6. ChiefAuditOfficers
  7. Chief Financial Officers

Risk Based Auditing flyer

Risk Based Auditing Registration form