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A Highly Interactive Training Course On

Risk-Based Auditing

Focusing the Audit Attention on
the Things that Really Matter

Risk-Based Auditing

Course Schedule

Classroom

Online

No online dates are currently available.

Training Introduction

Many Internal Audit functions claim to adopt a risk-based approach, yet few have fully embedded this methodology to maximize organizational value. The Risk-Based Auditing Training Course by Coventry Academy provides participants with the tools and techniques to implement a strategic, risk-focused audit approach.

This course guides auditors in developing a strategic audit plan that prioritizes high-risk areas, schedules audits effectively, and delivers integrated, risk-based audit assignments. Participants will learn to challenge management assumptions, align audit efforts with organizational risks, and enhance the assurance value provided by the internal audit function.

Key focus areas of this course:

  • Using a globally recognized strategic audit planning tool to prioritize audit activities
  • Identifying risks that may be over- or under-managed during audits
  • Linking audit programs directly with the organizational risk register
  • Coordinating audit plans with other assurance providers to avoid duplication
  • Implementing a step-by-step approach to conducting risk-based audits effectively
  • Challenging management’s assessment of risks to ensure thorough coverage

This course ensures auditors move beyond checklist auditing to a risk-based methodology that improves organizational insight, reduces exposure, and adds measurable value.

What are the goals?

By the end of this Risk-Based Auditing Training Course, participants will be able to implement a risk-based audit approach that is strategic, efficient, and aligned with organizational priorities. They will develop the skills to identify and audit high-risk areas while providing measurable assurance to stakeholders.

By the end of this training course, participants will be able to: 

  • Deliver financially measurable value through the risk-based audit process
  • Audit key risk areas within the organization confidently
  • Challenge the risk management process, including inherent, residual, and target risks
  • Evaluate organizational risk appetite and ensure it is effectively managed
  • Plan, execute, and monitor risk-based audit assignments efficiently and effectively

These skills ensure auditors can provide assurance where it matters most, supporting informed decision-making and strategic business objectives.

Who is this Training Course for?

The Risk-Based Auditing Training Course is designed for internal auditors, assurance professionals, and business leaders seeking to implement or enhance a risk-based audit approach. It is suitable for those who want to take their audit methodology to a higher, more strategic level.

This training course is suitable to a wide range of professionals but will greatly benefit: 

  • Heads of Audit and Audit Managers
  • Senior auditors and team leaders
  • Auditors responsible for implementing a risk-based approach
  • Assurance professionals in Compliance or Quality Assurance functions
  • Managers and Directors seeking insight into the risk-based audit methodology

Participants will gain practical strategies to strengthen their audit approach, prioritize critical risks, and deliver actionable insights to the organization.

How will this Training Course be Presented?

The Risk-Based Auditing Training Course is delivered through interactive lectures, case studies, and hands-on exercises designed to maximize comprehension and practical application. Participants will work through real-life examples and templates to plan and execute risk-based audits effectively.

The course includes step-by-step guidance on risk identification, audit planning, execution, and monitoring, along with practical tools for prioritizing and assessing risks. Participants receive electronic resources, templates, and worked examples that can be applied immediately to their audit environment, ensuring a seamless transition from learning to implementation.

The Course Content

Day 1:  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

Day 2:  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

Day 3:  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) 

Day 4:  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

Day 5:  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

Providers and Associations

Anderson

Anderson

Aztech Training

Aztech Training

COPEX

COPEX

Frequently Asked Questions

Quick answers to common questions about this training course.

Absolutely. Coventry Academy provides customised in-house training solutions for organisations seeking a tailored learning experience. The Risk-Based Auditing training course can be adapted to reflect your organisation's objectives, industry requirements, operational challenges, and strategic priorities. Delivered exclusively for your team, customised training enables organisations to maximise relevance, encourage collaboration, and achieve targeted development outcomes. Our team will be pleased to discuss your requirements and develop a solution that aligns with your goals.

Absolutely! If you’re attending one of our courses at an international venue, we can help
with hotel reservations and entry visas. Just reach out to our Customer Service team:

  • Phone: +971 4 420 8304
  • Fax: +971 4 420 8304
  • Email: info@coventryacademy.com

No prior experience is required to attend the Risk-Based Auditing training course. The course is designed to accommodate participants from diverse professional backgrounds and varying levels of experience. While some familiarity with the subject matter may help participants gain additional value from certain discussions and activities, the course content is structured to ensure that both newcomers and experienced professionals can fully engage with the learning experience and benefit from the training.

Our dedicated support team is available to assist you with any questions regarding the Risk-Based Auditing training course, including course content, scheduling, registration, corporate bookings, and customised training solutions. We are committed to providing prompt and professional assistance throughout your learning journey.

📞 Phone: +971 58 840 7925

📧 Email: info@coventryacademy.com

🌐 Website: coventryacademy.com

Registering for a course is super easy! Here’s how you can do it:

  • Online: Pick your course, hit the "REGISTER" button, fill out the form, and
    submit it.
  • Email: Drop us a line with your details at info@coventryacademy.com.
  • Phone: Give us a call at +971 4 420 8304 to book your spot.
  • Fax: Fill in the booking form (you’ll find it in our brochures, flyers, or catalogue)
    and fax it to [+971 4 420 8304](tel:+97144208304).

The Risk-Based Auditing training course is designed to be practical, engaging, and highly interactive. Participants benefit from a dynamic learning environment that combines expert-led presentations, facilitated discussions, case studies, practical exercises, and collaborative learning activities. The focus is on developing knowledge that can be applied immediately within the workplace, ensuring participants gain both valuable insights and practical skills that support improved professional performance.

Your course fees cover:

  • For classroom courses: printed materials, lunch, and refreshments.
  • For online courses: all materials sent to you by email.
  • A certificate of completion or attendance.

You’ll need to make payment before the course starts. Here are your options:

  • Bank draft
  • Cash
  • Credit card
  • Wire transfer

Heads up: If we don’t receive payment before the course begins, we may have to deny
admission.

We delivers training courses in carefully selected professional venues that provide a comfortable and productive learning environment. Classroom-based courses are typically hosted in premium international venues with modern facilities and dedicated training spaces designed to support effective learning. Participants also benefit from a professional setting that encourages networking, collaboration, and knowledge sharing with peers from diverse industries and backgrounds.

The Risk-Based Auditing training course is designed for professionals seeking to strengthen their knowledge, enhance their capabilities, and achieve greater impact within their organisations. It is suitable for managers, supervisors, team leaders, technical specialists, consultants, and professionals at all career stages who wish to expand their expertise and stay current with industry developments. Whether you are looking to advance your career, improve workplace performance, or prepare for new responsibilities, this course provides valuable knowledge and practical insights to support your professional growth.

Our courses are led by top-notch international instructors. They’re not just academically qualified—they’ve also got years of real-world experience. They bring practical insights and deep knowledge to every session, making your learning experience truly valuable!

Yes. Participants who successfully complete the Risk-Based Auditing training course will receive a Coventry Academy Certificate of Completion, recognising their commitment to professional development and continuous learning. This certificate serves as formal evidence of participation and achievement and can support career progression, professional credibility, and ongoing development objectives. Where applicable, details regarding professional development credits or accreditation will be provided within the course information.

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