Practical Applications of Risk Based Internal Audit

The practical Risk- based internal auditing course enables participants to effectively identify the top objectives and risks in their organisations to provide input on developing a risk based internal audit plan. The course discusses risk management basics on how to identify, assess, evaluate, mitigate and monitor risks; to aid in understanding risk management principles necessary to perform risk-based audits. Differences between traditional internal auditing and how to audit using a risk-based approach are discussed. Participants will develop the skills necessary to effectively plan and perform risk based internal auditing at their organization. The course will also extensively look at how risks are valued both financially and economically, and where applicable reported, along with risk management matrices.