Risk Based Internal Auditing
- 00h 00m 00s
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About Course
Day 1: Understanding the Basics of Internal Auditing and Risk Management
Session 1: Introduction to Internal Auditing (Morning)
- Welcome and course overview
- Importance of internal auditing
- Role of internal auditors
- Key principles of internal auditing
Session 2: Risk Management Fundamentals (Morning)
- Introduction to risk management
- Identifying and assessing risks
- Risk appetite and tolerance
- Risk management frameworks
Session 3: Internal Audit Standards and Frameworks (Afternoon)
- Overview of internal audit standards (e.g., COSO, IIA)
- The Three Lines of Defense model
- Integrating risk management into internal auditing
- Case study: Applying risk-based internal auditing principles
Day 2: Implementing Risk-Based Internal Auditing
Session 4: Risk Assessment and Planning (Morning)
- Conducting a risk assessment
- Risk prioritization and ranking
- Developing the audit plan based on risk assessment
- Practical exercises: Risk assessment and audit planning
Session 5: Executing Risk-Based Audits (Afternoon)
- Audit program development
- Fieldwork procedures
- Gathering and analyzing audit evidence
- Case study: Conducting a risk-based internal audit
Day 3: Reporting and Continuous Improvement
Session 6: Reporting and Communication (Morning)
- Reporting audit findings effectively
- Tailoring reports to the audience
- Communicating with management and stakeholders
- Interactive session: Mock presentation of audit findings
Session 7: Continuous Improvement (Afternoon)
- Audit follow-up and tracking
- Feedback and lessons learned
- Continuous improvement in the internal audit process
- Developing an audit department improvement plan
Session 8: Course Review and Q&A (Late Afternoon)
- Recap of key concepts
- Participant questions and discussion
- Course evaluations and feedback
Short Description
Risk-Based Internal Auditing