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Strategic Risk Assessment

Risk-based audit planning is an approach to audit work that focuses on strategic, regulatory, financial, and business risks that confront an organization, and which uses these risks to steer the audit process in a way that maximizes the impact of audit’s assurance and consulting work. This training is based on the International Professional Practices Framework and aims to give;

  • a detailed understanding of developing Risk Based Audit Plan,
  • a detailed understanding of leading practices for risk assessment process and its relationship to the Company’s activities,
  • how to evaluate the different risk factors influencing the Company’s Audit Plan,
  • understand how aligned with the key business objectives of the Company and associated risks,
  • how to prioritise auditable areas in the audit plan,
  • how to conduct peer reviews of Risk and Audit Plan,
  • how to identify and update auditable areas in the audit universe.

 Topics Covered

  1. Why Risk-based Audit Planning
  2. Basic Planning Techniques
  3. Using the Corporate Risk Register
  4. The Annual Audit Plan
  5. Engagement Planning
  6. Project Management
  7. Keeping the Accent on Risk
  8. A Holistic Approach to Risk-based Audit Planning