Using Risk Assessment to Build Individual Audit Programs: Risk Assessments and Strategic Plans

In this course, participants will learn how to use risk assessment techniques and principles to build and conduct risk-based and value-added audit programs. It explores progressive approaches to assessing risk and determining the most appropriate strategies to build targeted audit programs for organizations and audit units. Attendees will learn how to build audit programs that will encompass an evaluation of a wider spectrum of risks: financial, information systems, regulatory and compliance, human resources, health & safety, operational effectiveness and efficiency, and reputational risks. Through case studies and other interactive approaches, participants will have an opportunity to be hands-on in working through various scenarios. Finally, participants will learn effective approaches to include sustainable risk-mitigation and corrective action strategies in the report and ongoing monitoring efforts. Attendees will emerge from this course with a toolbox of proven implementable approaches that will enhance any internal audit function to generate high-value and high-impact outcomes. This course focuses on the uses and users of risk assessments, and how risk assessments relate to organizational goals, vision, mission, and strategic plans. It also covers compliance and regulatory requirements, compliance reports and submissions, responsible parties, and strategies for monitoring. Who Should Attend Financial, Operational, Business, and IT Auditors interested in broadening their knowledge of risk assessment techniques and principles. CPE: 5