Risk Based Auditing
Faced with growing challenges in the management of organisations, the field of auditing has changed over time. Risks characterize the conduct of business today, and some of these threaten business survival.
Organisations have to respond to the many challenges on a timely basis. Managers are expected to re-affirm their organization’s financial commitment, dedication to growth, success and focus to meet their objectives. They need to be constantly assessing the risks associated with changes taking place in business arena and mitigate against them.
A strong internal control system (ICS) becomes a necessity and not a choice.
Auditors need to audit what matters in the organization. The starting point is carrying out risk based audit supported by a functioning audit function.
Finance managers, internal auditors, accountants, risk managers and officers interested in hands on skills in risk based auditing.
At the end of the Programme, participants will be able to:
- Describe the risk management process;
- Demonstrate the link between audit risk and your audit plan;
- Appreciate the role of audit in risk management;
- Analyze the control and risk frameworks;
- Appreciate the benefits of proactive risk management;
- Develop and implement a risk based audit plan;
- Carry out a risk based governance audit.