Risk Audit School: Risk Basics


Risk Audit School: Risk Basics Overview
This collection of risk audit school courses introduces participants to the basic concepts of risk, types of risks, and risk management (ERM) frameworks such as ISO 3000 and COSO ERM, and the IIA’s professional guidance on risk management. It also covers how to conduct risk assessments and ways of reviewing several common types of functional risk assessments, such as a fraud risk assessment, an IT risk assessment, a financial risk assessment, and best practices. The courses include examples of tools, templates, and reports commonly used in the risk management process. Also covered are risk appetite, measuring the impact/likelihood or risks, and black swans. The course then transitions to risk-based auditing and applies it toward developing the annual audit plan and planning at the engagement and audit program levels. Other topics include talent management strategies for risk-based auditing, root cause analysis, risk mitigation strategies, data analysis, and continuous monitoring tools to ensure there is an effective method for addressing risk. The course also covers key business risks, including operational, strategic, people, regulatory and financial, cybersecurity, and culture, in addition to emerging risks. Participants will review articles, case studies, examples of tools and templates, and graphical depictions to help the student apply concepts and theories to practical use in their organization.
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WEBVTT Welcome to Risk Audit School, Risk Basics. In this course, auditors are introduced to key concepts of risk, types of risks, and renowned risk management frameworks like ISO 3000, COSO ERM, and the IIA's expert guidance on risk management. It delves into risk assessments, best practices, and covers risk-based auditing principles that are used towards annual audit planning and audit programs. Participants also gain insights on handling various business risks using a practical approach that includes articles, case studies, and graphical depictions. This comprehensive course is ideal for internal and external auditors, risk management specialists, and professionals involved in corporate governance. You'll earn one CPE credit on successful completion.

Learning Style

On Demand





Who this course is for

Internal and External Auditors, Risk Management Specialists, and those charged with corporate governance responsibilities.

NASBA Certified CPE

1 credits

Field of Study


Length of course



Fundamentals of Internal Auditing
or equivalent experience

Advanced Preparation

4 Episodes

Here are the topics we'll cover

  • Course Overview
  • Risk Basics
Learning Options

Options for this course

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ACI Learning is registered with NASBA

ACI Learning is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: https://www.nasbaregistry.org/