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Risk School

Seminar: ID# 1003483
risk-school

Agenda

What You Will Learn:
  • Risk-Focused Pronouncements and Publications
    • ISO 3100 risk model
    • using the COSO ERM model as a baseline
    • ERM as presented in the UK/Ireland position paper: the role of internal audit
  • Risk-Based Auditing
    • defining risk-based internal auditing
    • the undercurrent of change in internal auditing
    • comparing and contrasting audit approaches
    • risk-based auditing benefits
  • Risk Basics: What You Need to Know
    • defining risk in business terms: essential for success
    • three key components of real risk assessment
    • the audit function and how it should be driven by risk
    • relating business risk and control failure
  • Establishing a Framework for Risk Analysis
    • alternative methods of determining risk in audit practice
    • subjective
    • objective
    • using core business analysis to drive a top-down risk-based approach
    • centering risk assessment around the five key things a business does
  • Aligning Key Business Risks with the Audit Universe
    • key universal business risk categories: examples
    • prioritizing risk by critical functionality of the business
    • identifying the key business risks types in your organization
    • creating an effective risk-based audit plan
    • truly integrating the risk-based audit plan into the engagement-level risk assessment
  • Objectively Driving the Audit Risk Assessment
    • establishing a case for objective-based risk assessment
    • using data and proven information
    • making your analysis reactive rather than proactive
    • data analysis tools and how to use them for risk identification
    • interpreting data in the context of risk
    • data types: what you must know
    • KRIs: output or outcome-based?
    • types of analysis
    • risk in data movement
    • pivotal point of change analysis
    • mean dispersion analysis
    • others
  • Identifying Risk Areas of Primary Concern
    • financial: how to determine what is risk and what is exposure
    • operational: focusing on areas of real opportunity
    • IS/IT: determining the big payback areas of risk
    • regulatory: identifying the real points of risk focus
  • Building an Inventory of Key Risk Metrics
    • identifying essential key risk metrics
    • financial
    • operational
    • IS/IT
    • regulatory
    • keying the metrics to ensure minimum data and maximum risk analysis
  • Engagement-Level Risk Assessment
    • engagement risk determined from the audit plan level
    • keying in on risk at the engagement level
    • focusing your evaluation on risk and control
    • building a risk-based audit program
  • ERM: The New Risk Frontier
    • understanding the role of IA in ERM
    • identifying new areas of audit concern and involvement
    • ERM and IA’s symbiotic relationship
  • Reengineering the Audit Process to Make it Truly Risk-Based
    • questioning everything in the current audit process
    • utilizing multi-purpose risk-based audit tools
    • establishing a risk basis for everything you audit
    • focusing your audit on discovering root causal events
    • narrowing the scope of your audits to focus on only what is risky
    • creating a highly efficient risk-based reporting format
  • Maximizing on Risk: Internal Audit Opportunity
    • establishing a unique audit role that only you can fill
    • Provable Value Concept Auditing (PVCA)
  • The Audit Spectrum
    • practice today, tomorrow, the future
    • progressing toward risk-focused thought process
    • establishing a strategic risk vision
    • focusing on the tools of the future: self monitoring
  • Marketing Risk-Based Auditing
    • establishing the key advantages: how to get management buy-in
    • building the business case
    • formulating a transition plan
    • re-educating management and the audit committee
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 3pm.

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Risk School
Pricing: $2,695.00
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$269.50
$2,425.50
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