Most Internal Audit functions would say that their functions have adopted a risk-based approach, but very few have fully embedded this process and added measurable value.
By attending this Coventry Academy training course, you will learn how to take your Audit approach to the next level by developing a strategic audit plan to clearly identify what to audit (and how often) and also deliver fully integrated risk-based audit assignments. In this way the level of assurance you provide can be significantly enhanced
This training course will feature:
A world-renowned strategic audit planning tool to enable audit priorities to be set with confidence, and is simple to explain to senior management
How to identify over-managed risks during the audit process
Techniques to develop an integrated process whereby audit programmes can be linked directly with the risk registers
How to ensure that your audit plan is fully coordinated with the other assurance providers in your business
A step by step guide to completing a risk-based audit
How to challenge management’s evaluation of the risks
Quais são os objectivos?
By the end of this training course, participants will be able to:
Deliver financially measurable value from the risk-based audit process
Audit major areas of risk in your business with confidence
Challenge the risk process (by ensuring that inherent, residual and target risk is identified for each event)
Evaluate business risk appetite and ensure this is effectively managed
Plan risk-based assignments efficiently and effectively
A quem se destina este curso de formação?
Anyone that needs to fully understand the risk-based audit approach – or to take their existing approach to the next level
This Coventry Academy training course is suitable to a wide range of professionals but will greatly benefit:
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
Como é que esta ação de formação será apresentada?
This dynamic Coventry Academy training course will utilise a variety of proven learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes various exercises and case studies to provide practical application of the tools and techniques. A series of valuable tools and templates will be provided in electronic format – to take away and use immediately.
Descrição do curso
Day One: 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 Two: 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 Three: 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 Four: 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 Five: 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
O certificado
Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course