15 Topics
5 Days
76 Sessions
Programme Overview
Training Description
Who Should Attend
This course is designed for professionals involved in auditing, compliance, and risk management, including:
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Chief Audit Executives (CAEs) and Internal Audit Directors
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Internal and external auditors, inspectors, and assurance professionals
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Chief Compliance Officers (CCOs) and corporate regulatory managers
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Chief Risk Officers (CROs) and enterprise risk management specialists
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Corporate controllers, finance directors, and governance officers
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Legal counsel, regulatory affairs advisors, and compliance analysts
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Audit committee members and independent board oversight officials
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Risk and compliance consultants working across corporate and public sectors
Session Objectives
- Understand the principles of risk-based auditing.
- Identify and assess key risks facing the organization.
- Prioritize risks based on their potential impact and likelihood.
- Develop risk-based audit plans.
- Conduct effective audits and gather evidence.
- Evaluate the effectiveness of internal controls.
About the Course
In an increasingly complex regulatory environment marked by shifting laws, emerging operational hazards, and heightened stakeholder scrutiny, traditional compliance checklists are no longer sufficient. The Risk-Based Auditing and Compliance training course equips audit and compliance professionals with the advanced frameworks, methodologies, and analytical tools needed to direct assurance resources toward an organization's most critical vulnerabilities.
Attendees will master best practices in risk assessment modeling, dynamic audit planning, regulatory compliance mapping, fraud detection, and continuous monitoring. By seamlessly bridging theoretical audit standards with practical, real-world execution, this program empowers professionals to strengthen organizational governance, optimize assurance efficiency, and provide executive leadership with objective, impactful oversight.
Curriculum & Topics
15 Topics | 76 Sessions
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Workshop 1.1:
Limitations of traditional audit approaches.
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Workshop 1.2:
The principles and benefits of risk-based auditing.
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Workshop 1.3:
The audit risk model and its components.
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Workshop 1.4:
Linking audit activities to organizational objectives and risks.
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Workshop 1.5:
The role of internal audit in risk management.
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Workshop 2.1:
Methods for identifying and assessing risks (e.g., SWOT analysis, brainstorming, risk workshops).
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Workshop 2.2:
Categorizing risks (e.g., strategic, operational, financial, compliance).
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Workshop 2.3:
Qualitative and quantitative risk assessment techniques.
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Workshop 2.4:
Developing a risk register and risk profile.
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Workshop 2.5:
Considering internal and external risk factors.
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Workshop 3.1:
Criteria for prioritizing risks (e.g., impact, likelihood, velocity).
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Workshop 3.2:
Risk scoring and ranking methodologies.
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Workshop 3.3:
Developing a risk heat map.
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Workshop 3.4:
Focusing audit efforts on high-risk areas.
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Workshop 3.5:
Allocating audit resources effectively.
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Workshop 4.1:
Translating risk assessment results into an audit plan.
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Workshop 4.2:
Defining audit objectives and scope.
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Workshop 4.3:
Scheduling audit activities and allocating resources.
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Workshop 4.4:
Developing audit procedures and methodologies.
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Workshop 4.5:
Aligning the audit plan with organizational strategy and risk appetite.
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Workshop 5.1:
Different audit methodologies (e.g., top-down, bottom-up, process-based).
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Workshop 5.2:
Audit techniques (e.g., interviews, document review, data analysis, observation).
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Workshop 5.3:
Using technology for audit planning and execution.
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Workshop 5.4:
Adapting audit approaches to different types of risks.
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Workshop 5.5:
Ensuring audit quality and consistency.
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Workshop 5.6:
N/A
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Workshop 6.1:
Understanding internal control frameworks (e.g., COSO).
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Workshop 6.2:
Evaluating the design and effectiveness of internal controls.
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Workshop 6.3:
Identifying control gaps and weaknesses.
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Workshop 6.4:
Testing internal controls through walkthroughs and testing.
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Workshop 6.5:
Assessing the impact of control deficiencies.
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Workshop 7.1:
Understanding compliance requirements and regulations.
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Workshop 7.2:
Identifying compliance risks.
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Workshop 7.3:
Developing audit procedures for compliance testing.
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Workshop 7.4:
Monitoring compliance with relevant laws and regulations.
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Workshop 7.5:
Reporting compliance violations and recommending corrective actions.
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Workshop 8.1:
Using data analytics to identify trends, anomalies, and patterns.
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Workshop 8.2:
Extracting and analyzing large datasets.
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Workshop 8.3:
Visualizing audit data and insights.
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Workshop 8.4:
Automating audit procedures using data analytics.
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Workshop 8.5:
Improving audit efficiency and effectiveness through data analytics.
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Workshop 9.1:
Preparing clear and concise audit reports.
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Workshop 9.2:
Communicating audit findings effectively to management and the audit committee.
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Workshop 9.3:
Developing practical and actionable recommendations.
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Workshop 9.4:
Following up on audit recommendations and tracking implementation.
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Workshop 9.5:
Ensuring timely and accurate reporting.
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Workshop 10.1:
The role of internal audit in risk management.
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Workshop 10.2:
Monitoring the effectiveness of risk management practices.
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Workshop 10.3:
Identifying emerging risks and trends.
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Workshop 10.4:
Promoting a culture of risk awareness and continuous improvement.
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Workshop 10.5:
Contributing to the development of risk management frameworks.
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Workshop 11.1:
Identifying red flags and indicators of fraud.
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Workshop 11.2:
Conducting fraud investigations.
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Workshop 11.3:
Gathering and analyzing evidence.
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Workshop 11.4:
Reporting fraud incidents and collaborating with law enforcement.
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Workshop 11.5:
Preventing fraud through internal controls and ethical culture.
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Workshop 12.1:
Auditing IT systems and infrastructure.
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Workshop 12.2:
Assessing cybersecurity risks and vulnerabilities.
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Workshop 12.3:
Evaluating IT controls and security measures.
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Workshop 12.4:
Data privacy and protection considerations.
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Workshop 12.5:
Managing IT audit projects.
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Workshop 13.1:
Communicating audit findings and recommendations to the audit committee and the board.
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Workshop 13.2:
Preparing reports for the audit committee and the board.
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Workshop 13.3:
Discussing key audit issues and risks.
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Workshop 13.4:
Providing assurance on internal controls and compliance.
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Workshop 13.5:
Building a strong relationship with the audit committee and the board.
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Workshop 14.1:
Developing a quality assurance and improvement program (QAIP) for internal audit.
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Workshop 14.2:
Conducting internal quality assessments.
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Workshop 14.3:
External quality assessments and peer reviews.
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Workshop 14.4:
Implementing recommendations for improvement.
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Workshop 14.5:
Maintaining audit quality and professionalism.
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Workshop 15.1:
The impact of technology on auditing and compliance.
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Workshop 15.2:
The increasing focus on data analytics and automation.
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Workshop 15.3:
The evolving regulatory landscape.
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Workshop 15.4:
The importance of ethics and professional judgment.
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Workshop 15.5:
The future of risk-based auditing and compliance.
