Master Risk-Based Internal Auditing: 5-Day Intensive Course

Course Description

This intensive 5-day course provides a comprehensive exploration of Risk-Based Internal Auditing (RBIA). Participants will gain in-depth knowledge of RBIA methodologies, risk assessment techniques, and strategic audit planning. The course covers advanced concepts in risk management, control evaluation, and effective communication of audit results.

Learning Objectives

• Master the principles and practices of Risk-Based Internal Auditing
• Develop skills in risk assessment and prioritization for audit planning
• Learn to design and execute risk-based audit engagements
• Enhance abilities in evaluating risk management processes
• Improve techniques for communicating audit results to stakeholders

Course Modules

Day 1: Foundations of Risk-Based Internal Auditing

• Evolution of internal auditing approaches
• Core principles of RBIA
• Risk management frameworks (COSO ERM, ISO 31000)
• Aligning RBIA with organizational objectives

Day 2: Risk Assessment and Audit Planning

• Risk identification and analysis techniques
• Developing a risk-based audit universe
• Strategic and annual audit planning
• Resource allocation in RBIA

Day 3: Conducting Risk-Based Audit Engagements

• Planning individual risk-based audits
• Risk-based fieldwork techniques
• Evaluating controls in a risk context
• Data analytics in RBIA

Day 4: Advanced RBIA Techniques

• Continuous risk assessment and auditing
• Auditing enterprise risk management
• Integrating fraud risk in RBIA
• Emerging risks and their impact on auditing

Day 5: Communicating Results and Adding Value

• Effective risk-based audit reporting
• Presenting audit results to management and the board
• Measuring RBIA effectiveness
• Enhancing organizational risk culture

Practical Wins for Participants

• Ability to implement a robust RBIA framework in their organization
• Enhanced skills in risk assessment and audit prioritization
• Improved techniques for conducting value-added risk-based audits
• Strategies for effective communication of risk-based audit results