Fundamentals of Risk Assessment and Audit

Learn to assess risks and build effective audit plans

Duration

2 Days

Language

English

Delivery Mode

Online/Hybrid/Face-to-Face

Course Overview

This course provides a comprehensive foundation in risk assessment and audit planning, focusing on the role of internal audit in identifying, evaluating, and managing risks within an organization. Participants will explore key risk concepts, methodologies, and tools such as risk registers and risk-based audit universes, while gaining practical insights into how risk assessment influences audit strategies. By the end of the course, learners will be equipped to connect risk management practices with business operations and design audit plans that strengthen organizational resilience.

Learning Objectives

Understand the role of internal audit in risk assessment and audit planning
Explain key risk concepts including risk management and enterprise risk management (ERM)
Apply tools and techniques such as risk registers and risk-based audit universes
Identify and evaluate different types of risk assessments within organizations
Analyze risk factors that influence audit planning decisions
Develop and update risk registers for straightforward business areas

Course Outline

Day 01

Introduction to Risk Concepts and Internal Audit’s Role
Exploring Risk Management Standards and Methodologies
Understanding Risk Registers and Risk-Based Audit Universes
Linking Risk Identification and Assessment to Business Operations
Types of Risk Assessments and Internal Audit Involvement
Creating and Updating Risk Registers for Audit Planning

Certification

OrientMCT Certified

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