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Risk-Based Auditing
Course overview
Why Attend
Risk-based auditing enables organizations to focus audit resources on the areas of highest risk and greatest value. Instead of reviewing activities in isolation, modern auditors are expected to assess strategic, operational, financial, and compliance risks while supporting stronger governance and decision-making. This course provides participants with practical tools to develop risk-based audit plans, evaluate enterprise risk management processes, and conduct effective audits of complex business activities.
Course Methodology
This course uses an interactive and practical approach through presentations, case studies, audit workshops, risk assessments, group discussions, practical exercises, and real workplace examples.
Course Objectives
- Understand modern risk-based auditing principles
- Link internal audit with enterprise risk management
- Evaluate risk management processes and controls
- Develop strategic and annual audit plans
- Apply risk-based auditing techniques in practice
- Use audit technology and data tools effectively
- Audit complex and high-risk activities
- Deliver value-added audit recommendations
Target Audience
- Internal Auditors
- Audit Managers
- Risk Management Professionals
- Compliance Officers
- Governance Professionals
- Finance Controllers
- Anyone involved in assurance and control functions
Target Competencies
- Risk-Based Auditing
- Internal Audit Planning
- Risk Assessment
- Control Evaluation
- Audit Reporting
- Strategic Thinking
- Governance Review
- Performance Analysis
Course outline
Day 1: Risk Based Auditing in the Modern Era
- The modern risk-based audit (RBA) approach
- How risk-based audit has changed the face of auditing
- Importance of dealing with audit risks, not only business risks
- RBA and ERM (Enterprise Risk Management)
- ISO 31000 international risk standard
- Auditing strategic risks
Day 2: Evaluating the ERM Process
- Risk workshops
- Other methods of risk identification
- Root cause analysis and Monte Carlo analysis
- Assessment of risk mitigation
- Determining preventative, detective, and corrective controls
- Auditing the ERM process
- Assessing key risk indicators
Day 3: Risk Based Audit Planning
- The internal audit strategy
- The audit universe
- Preparing a strategic audit plan
- Risk-based audit KPIs
- Developing annual audit plans
- Use of audit technology (CAATs)
Day 4: Risk Based Auditing in Practice
- Planning a risk-based audit and initial brainstorming
- The risk-based audit step by step
- The RBA programme worked example
- RBA deliverables
- Monitoring action plans
- Determining audit risk and control assessment
Day 5: Risk Based Audits of Complex Activities
- Auditing brand and reputation
- Risk-based audit of projects
- Reviewing joint ventures
- Environmental auditing
- Auditing the marketing function
- Auditing performance management
Dates and fees
| Dates | City | Fee |
|---|---|---|
| 16 - 20 Nov 2026 | Amsterdam, Netherlands | £4,250 |
| 7 - 11 Dec 2026 | London, United Kingdom | £3,850 |
| 14 - 18 Dec 2026 | Barcelona, Spain | £4,250 |
| 21 - 25 Dec 2026 | Kuala Lumpur, Malaysia | £2,850 |
| 4 - 8 Jan 2027 | Barcelona, Spain | £3,850 |
| 1 - 5 Feb 2027 | Istanbul, Turkey | £2,850 |
| 1 - 5 Mar 2027 | Amsterdam, Netherlands | £4,250 |
| 5 - 9 Apr 2027 | Istanbul, Turkey | £2,850 |
| 3 - 7 May 2027 | Paris, France | £4,500 |
| 7 - 11 Jun 2027 | Barcelona, Spain | £3,850 |
| 5 - 9 Jul 2027 | Munich, Germany | £4,250 |
| 2 - 6 Aug 2027 | Kuala Lumpur, Malaysia | £2,250 |
| 6 - 10 Sep 2027 | Amsterdam, Netherlands | £4,250 |
| 4 - 8 Oct 2027 | London, United Kingdom | £4,200 |
| 1 - 5 Nov 2027 | Paris, France | £4,500 |
| 6 - 10 Dec 2027 | Istanbul, Turkey | £2,850 |