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.

You will learn how to plan, perform, and report on the results of risk-based audits. Also, how this approach differs from controls-based, raise awareness, and better articulates the benefits of this approach as a means to add value. 

• How we will work together over the next three days to ensure that the objectives are achieved.
• Why risk based internal auditing?
• Overview and Objectives.
• The role and purpose of internal audit.
• The added value role of internal audit.
• The different approached to internal audit.
• The way the three key internal audit approaches fit together and/or conflict.
• A risk based audit plan.
• Risk based internal auditing – how to guide.
• Consider the different methodologies for documenting a system including narrative, flowcharts, and risk matrices.
• How to deliver a risk-based audit report.
• What does an organization seek from its internal auditors Risk Management – general concept.