Format: Seminar |
The following provides course information and pricing information for the course you selected.
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| Title: |
| Duration: |
3 days |
Description:
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In this intensive three-day seminar you'll see for yourself why audit functions that focus their efforts on significant risks are able to concentrate their resources on issues that drive their businesses.
You will learn how to put in place a risk-based approach that is truly business oriented, gain an understanding of what is necessary to make your audit function totally risk based, learn tools, techniques, and methodologies that will boost auditor productivity and bullet-proof’ audit plans, and discover how to convert the entire audit process to a risk-based approach that will take you from planning all the way through to report writing.
Throughout the seminar class exercises will allow you to hone your risk-based auditing skills. You’ll leave this session with a specific understanding of what is necessary to be risk-based and how to implement this approach.
AGENDA
1. The Latest Risk-Focused Initiatives - The IIA’s GTAG on continuous auditing and continuous risk assessment
- COSO ERM model
- UK/Ireland position paper on internal audits role in ERM
2. Why Risk-Based Internal Auditing? - risk-based internal auditing defined
- the paradigm shift in internal auditing: why it’s happening and why it’s necessary
- how risk-based auditing differs from current approaches
- the advantages of risk-based auditing to you and your organization
3. Enterprise Risk Management- objectively driving the ERM environment
- equating risk management and corporate governance
- the primary subsets of enterprise risk management
- establishing the ERM structure
- conducting a risk inventory
- determining probabilities and impacts
- defining the risk responses
- strategically cascading risk ownership
- the impact of ERM on the internal audit group
- fundamental issues of how risk will be assessed
- risk registers
4. Key Attributes of a Risk-Based Audit Function- understanding the meaning of “true business risk” and its impact on the audit function
- effectively utilizing the three key components of real risk assessment
- ability to identify key types of business risk
- understanding how business risk should drive the audit function
- acknowledging the interrelationship between business risk and control failure
- making risk a top priority
5. Evaluating IA’s Readiness to Adopt a Risk-Based Approach- defining the skill sets and competencies required under a risk-based approach
- strategies for educating your auditors in risk-based approaches
- focusing on deliverables as the audit product
- transitioning existing audit styles and defining new ones
- identifying reporting relationships
6. Redefining the Audit Process for a Risk-Based Function- creating a plan for implementing risk-based auditing in the organization
- creating a dynamic/fluid audit plan
- targeting the engagement on key risk areas for focused, high-impact, resource maximization
- employing risk-centric fieldwork tools and techniques
- utilizing a business risk-oriented reporting format
- minimal words, big message
- fact-based management format
- solution-oriented; audit closure
- measuring real value of the audit function in business terms
- using the most up-to-date audit tools
Learning Level: Intermediate
Advance Preparation: None
Prerequisites: Fundamentals of Internal Auditing or have equivalent experience.
Dates & Times
Classes start on the date(s) posted herein, and run from 8:30am to 5pm daily, except for the last day of class, which ends at 1pm.
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| Licenses / Designations / Educational Credits: |
CPE
All US States: 22 |
| About The Provider: |
Founded in 1978, MIS Training Institute is the international leader in audit and information security training, with offices in the USA, UK, and Asia. MIS’ expertise draws on experience gained in training more than 200,000 delegates across five continents.
Helping audit and infosecurity professionals stay at the top of their game has always been at the core of MIS’ mission. To that end, MIS has developed and focused its seminars, conferences, and symposia on the wide-ranging needs of internal and IT auditors and information security practitioners who are charged with controlling complex systems and business environments.
MIS’ unparalleled course curriculum covers the most up-to-the-minute topics, provides proven audit and security practices, and delivers the information needed to be successful in today’s organizations.
All MIS programs are led by industry experts…hands-on pros who have been in the field and who practice what they teach. Attendees of MIS Training Institute events benefit from unbiased practices, proven strategies, and lessons learned in the real-world.
MIS Training Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors. |
| Price: |
$1,850.00 |
| More Info: |
Contact Us For More Information |
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