Course description
The risk-based auditor course is an important course that focuses on areas of the organization that can compromise the attainment of its objective in its field. It involves identifying and understanding the risks that face organizations. This course will give participants the insights and skills required to apply risk-based auditing to practically identify and manage risks. Some of the things they learn involve risk-based auditing, an audit approach, and dealing with risk exposure in the real world.
What is risk-based auditing?
The normal and other audit plans draw all the attention to the existing controls while determining their success. On the other hand, risk-based auditing focuses on carefully examining the organization’s inherent risks as identified by management or any other relevant professionals such as directors and then finding ways to ensure they control the risks according to the urgency levels and loss levels of the risks. This method is mainly based on the enterprise risk management (ERM) technique because it will focus on the entire organization while undertaking the audit rather than the departments.
Upcoming start dates
Suitability - Who should attend?
Who should attend?
The Certified Risk Based Audit (CRBA) Training Course by Rcademy is ideal for:
- Directors and managers of any business organization to improve their risk-based audit approach.
- Risk management professionals.
- Audit managers who intend to be the best in their field.
- Assurance professionals that comply who wish to develop knowledge of risk-based approaches.
- Chief audit executives
- Senior auditors to update their knowledge.
- Auditors of all levels are responsible for assessing, identifying, and developing counter-risk plans.
- Audit committee members.
- Anyone tasked with analyzing the risk of any organization’s dealing that involves risk exposure might be negative to the organization.
Outcome / Qualification etc.
The participants of The Certified Risk Based Audit (CRBA) Training Course by Rcademy will be able to:
- Define and analyze existing risk management policies.
- Develop better risk-based plans.
- Successfully plan audit processes and engagements.
- Identify and correctly assess risk from audit prospects.
- Understand and correctly define risks and the risk universe.
- Develop better audit strategies that are relevant to a particular organization.
- Describe the risk management process.
- Communicate and improve the audit plans.
Training Course Content
The topics below are requirements for the participants to become certified professionals.
Module 1: Introduction to Auditing
- The “big picture” in any organizational business
- The auditing environment
- The traditional auditing approach
- Types of audits
- The auditing world
- Professional and international standards in auditing
- Frameworks used in auditing
- What auditing entails
- Understanding risk, compliance, and performance of audits
- The risk-based audit framework
Module 2: Auditing Process
- Risk identification process
- The risk management assessment process
- Strategies used in an organization’s risk maturity
- Developing and designing the risk-based audit plan
- Risk assessment issues
- Planning risk audits
- Approaches in risk audit
- Risk management policies
- Updating the existing risk management policies
Module 3: Auditing Context
- The risk appetite level
- Inherent and residual risks
- Risk identification process
- Risk capacity
- Measuring risk
- Risk tolerance
- Internal controls in an organization
Module 4: Processing Risk
- Understanding the risk-assessing culture
- Objectives and strategies in a risk
- Criteria used in analysis and best practices
- Understanding risk stakeholders
- Internal and external risk
- Risk, rewards, and Compliance Relations
- Threats, opportunities, and requirements
- Responding to risks: tolerance, transfer, terminating, or treating
Module 5: Risk Standards
- ISO 31000
- OCEG GRC Capability
- COSO Enterprise risk management
- Fraud and its effects
- Developing the audit universe
Module 6: Risk and Fraud Detection Process
- Risk language issues
- Identifying and assessing fraud risks
- Relationship between risk and internal audit
- Elements in an effective fraud detection program
- Internal auditing of fraud and risk management
Module 7: Audit Model
- Risk-based model
- The History of audit models
- The Future of audit models
- Traditional model
- Three lines of defense
Module 8: Risk-based Audit Overview
- Operational auditing methodologies
- Value cost improvement (VCI)
- Reporting operational audit results
- Process in business controls level
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Rcademy
Rcademy is a global training and consultation organisation set out to bridge the gap between you now and what you can be in the near future. We are facilitators of knowledge impartation. Our team of established and experienced training enthusiasts...