* All fees are exclusive of vat ** PREMIUM - Customize your learning experience
Risk-based internal auditing (RBIA) is a methodology that enables internal audit to assess the adequacy of the assurance framework and the reliability of assurance sources. It requires an internal audit to be strategically and operationally linked to the business risk and assurance frameworks. New skills are required to implement RBIA effectively and this course will provide comprehensive training on applying the methodology.
What Do Participants Learn?
Apply the key concepts of RBIA to your organization
Link the organization’s risk management framework to each stage of RBIA
Determine risk maturity and apply the relevant approach
Understand how internal audit fits into your organization’s assurance framework and undertake an assurance mapping exercise
Produce an RBIA plan
Apply a risk-based methodology to internal audit assignments
Provide meaningful assurance statements to your audit committee and board.
Who Should Attend?
Heads of internal audit
Internal audit managers
Senior internal auditors
Who is involved in planning and providing assurance on control and management of business risk?
What Will the Learning Experience Include?
Comprehensive pre-program activities include:
Web-based information forms & surveys completed by attendee.
Direct consultation with the attendee about the expectations.
During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
Participants learn from expert trainers who have both academic and business experiences.
Highly applicable training content & instructive activities for adding depth to training topics.
**A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.
Explore & Practice
Apply & sustain the learning experience by using this ongoing support:
To ensure participant has new skills or behavior progress.
Optional, fee-based mentoring & coaching with the trainer.
Training materials & additional documents (e-books, pdf files, presentations and articles)
Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
Driving forces for a risk-based approach
Overview of current guidance – RBIA stages
Meeting board/audit committee requirements.
Sources of assurance to the board
Mapping assurance sources
Reviewing the adequacy of assurance
Linking the internal audit plan into the assurance framework.
What does good risk management look and feel like?
Forming risk maturity opinions – where does your organization sit on the risk maturity continuum?
Internal audit planning case study
Mapping risks, processes, business units and assurance
Prioritising the focus of assurance (or what to audit with limited resources)
Understanding the concept of risk appetite
The involvement of management in the internal audit plan.
Determining the assignment scope
Monitoring controls – the management role
Reporting conclusions and agreeing on the action – a new approach.
Assurance statements from internal audit
Making assurance statements meaningful and useful.