Open Programmes Corporate Finance, Account and Risk Management
RISK BASED AUDIT AND REGULATION

Modern world-class internal audit is not only risk based but also systematic, forward-looking, and innovative to meet the ever-changing needs of the global business and risk environment. The modern internal audit function needs to fulfill traditional audit activities as well as becoming far more agile to align more closely to the organisation’s strategic objectives, risks, changing priorities and emerging issues. This practical and interactive programme will equip internal audit leaders, managers, and practitioners to meet these challenges and hone the knowledge and expertise in critical areas of governance, risk and compliance management and internal control.

Programme Objective

1. Define the scope and function of internal audit within an orgnaization
2. Distinguish the types of internal audit assignments related to operational, compliance, quality, safety, or
financial internal audit
3. Describe the internal audit planning guidelines and develop a risk-based audit plan
4. Select the appropriate internal audit test tools
5. Explore Risk Based Auditing (RBA) and recognize the purpose of Internal Auditing (IA)

Programme Modules

1. An Introduction to Risk Based Internal Auditing
2. Risk and Internal Audit Overview
3. Scope of Internal Auditing
4. The Role of Audit Committee
5. Enterprise Risk Management Essentials
6. Risk-Based Internal Audit: Planning the Fieldwork
7. Stages of Implementing Risk-Based Internal Audit
8. Conducting Audit Engagements
9. Technical Tools for Internal Auditors
10. Internal Audit Process

Programme Outcomes

At the end of the programme participants will be able to:
1. Develop risk-based audit tests at both compliance and substantive levels
2. Maximize the use of tools and techniques for planning and performing risk-based audits
3. Link audit findings to the risk-based environment
4. Apply risk-based auditing techniques to organizational governance
5. Manage Corporate Risks

Target Participants

Board members, especially risk and audit committee chairs and members, Chief Risk Officers. Heads of market, credit, and operational risk, Head of Risk Management. Chief Compliance Officers, Chief Audit Officers, Chief Financial Officers, Actuaries, Treasurers, Auditors (External & Internal), Bank regulators and examiners, Risk management consultants and Heads of Departments and Units.