الدورات

الرئيسية / الدورات
التسجيل


Risk-based Auditing: A Value Add Proposition

من إلى المدة الوقت الرسوم
Sunday 16/12/2018
الأحد 09/04/1440
Monday 17/12/2018
الإثنين 10/04/1440
2 Days 8:30 A.M - 3:30 P.M 3150 S.R

About This Course 


Course Description Internal auditing is a profession that’s always evolving, always changing, especially in the area of riskbased audit approaches. Successful audit leaders know that it’s imperative that they continue to hone their skills in guiding their organizations’ risk-based auditing, while improving their current internal audit processes. 
 
Through case studies, group discussions, round tables, and facilitator presentations, this course will help audit team leaders and other management level audit professionals align their organizations’ strategies, visions, and values with the internal audit process. 
 
Furthermore, participants will come to understand the importance of corporate governance and enterprise risk management, while learning to identify risks, perform risk assessments, develop a riskbased assurance plan, understand entity-wide controls, and plan a risk-based engagement. 
 

Course Objectives

 Identify the value of internal auditing.
 Define internal auditing.
 Describe the internal audit standards.
 Discuss risk-based auditing in organizations.
 Define corporate governance.
 Identify the various aspects of corporate governance.
 Define enterprise risk management (ERM) and risk.
 Identify the difference between inherent and residual risk.
 Identify the categories of risk.
 Identify the elements of COSO control and COSO ERM frameworks.
 Identify the process for performing an entity-wide risk assessment.
 Define business process.
 Identify the process of developing an audit plan.
 Identify the process of performing a risk-based engagement.
 Identify the guidelines for reporting the results of a risk-based audit engagement. 

Course Topics 

Role of Internal Auditing

  Identify the value of internal auditing.
 Define internal auditing.
 Describe the internal audit Standards related to risk-based auditing.
 Discuss risk-based auditing in organizations. 
 

Corporate Governance

 Define corporate governance.
 Identify the various aspects of corporate governance.
 Identify the areas an internal audit must assess, evaluate, and report on to assure adequate corporate governance.  
 

Risk Management

 Define enterprise risk management (ERM) and risk.
 Identify the difference between inherent and residual risk.
 Identify the assumptions of risk management.
 Identify the benefits of risk management.
 Identify the categories of risk. 
 

Control (and Risk) Frameworks

 Identify the elements of COSO control and ERM frameworks.
 Identify the internal control environment factors, risk management factors, control activity factors, information and communication factors, and monitoring factors. 
 Identify the limitations of internal control and factors which override control activities.  Identify roles and responsibilities in internal control. 
 

Entity - wide Risk Assessment

 Identify the process for performing an entity-wide risk assessment.
 Define business process.
 Identify the process of developing an audit plan.  

Risk - based Audit Engagement

 Identify the process of performing a risk-based engagement.
 Identify the attributes of a business process definition or objective.
 Identify the risk-to-business processes and risk events.
 Identify the four common ways to manage risk.
 Identify the definition of controls, the type of controls, and evaluation methods for controls. 
 Identify the guidelines for reporting the results of a risk-based audit engagement.
 Discuss communication of risk assessment results with various stakeholders


Course Information 
 Course Duration : 2 Days 
 CPE Hours Available : 16 
 Knowledge Level : Intermediate 
 Field of Study : Auditing 
 Prerequisites : Basic knowledge of common risk frameworks such as COSO ERM and at least two years’ experience in internal auditing or completion of Enterprise Risk Management: A Driver for Organizational Success course. 
Advance Preparation : None