Global Learning for Operational Leaders
Course AGRC-017
Fundamentals of Risk Based Internal Auditing
Organizations operate in increasingly complex environments where effective risk management is essential for achieving st... The outline covers Introduction to Risk-Based Internal Auditing, Risk Assessment and Audit Plann...
Classroom
0 sessionsOnline / Live
0 sessionsIntroduction
Course overview
Why Attend
Organizations operate in increasingly complex environments where effective risk management is essential for achieving strategic objectives. Risk-based internal auditing enables auditors to focus assurance efforts on the areas that matter most to organizational success. This course provides participants with the knowledge and practical skills required to apply risk-based auditing methodologies, assess organizational risks, and deliver meaningful assurance and value-added recommendations.
Course Methodology
The course combines interactive presentations, case studies, practical exercises, audit simulations, risk assessment workshops, group discussions, and real-world audit scenarios to ensure practical understanding and application.
Course Objectives
By the end of this course, participants will be able to:
- Understand the principles and benefits of risk-based internal auditing
- Apply risk assessment techniques in audit planning and execution
- Develop risk-focused audit plans and programs
- Evaluate governance, risk management, and control processes
- Conduct effective risk-based audit engagements
- Report audit findings and recommendations effectively
- Support organizational objectives through value-added assurance activities
Target Audience
- Internal auditors
- Audit managers and supervisors
- Risk management professionals
- Compliance officers
- Governance specialists
- Internal control professionals
- Professionals involved in assurance and risk oversight functions
Target Competencies
- Risk-based auditing
- Risk assessment and analysis
- Audit planning and execution
- Internal controls evaluation
- Governance and compliance
- Audit reporting
- Analytical thinking
- Professional judgment
What you will achieve
Learning objectives
- Understand the principles and benefits of risk-based internal auditing
- Apply risk assessment techniques in audit planning and execution
- Develop risk-focused audit plans and programs
- Evaluate governance, risk management, and control processes
- Conduct effective risk-based audit engagements
- Report audit findings and recommendations effectively
- Support organizational objectives through value-added assurance activities
Who should attend
Target audience
- Internal auditors
- Audit managers and supervisors
- Risk management professionals
- Compliance officers
- Governance specialists
- Internal control professionals
- Professionals involved in assurance and risk oversight functions
- Target Competencies
Methodology
Learning approach
- The course combines interactive presentations, case studies, practical exercises, audit simulations, risk assessment workshops, group discussions, and real-world audit scenarios to ensure practical understanding and application.
Course content
Five focused days of learning and application
Day 1
Introduction to Risk-Based Internal Auditing
- Understanding the purpose and evolution of internal auditing
- Exploring the principles of risk-based auditing and its organizational value
- Understanding governance, risk management, and internal control frameworks
- Reviewing international internal auditing standards and professional practices
- Understanding organizational objectives and risk alignment
- Identifying the role of internal audit in supporting risk management effectiveness
Day 2
Risk Assessment and Audit Planning
- Understanding enterprise risk management concepts and methodologies
- Identifying strategic, operational, financial, compliance, and emerging risks
- Assessing risk likelihood, impact, and risk appetite considerations
- Developing risk registers and risk assessment matrices
- Prioritizing audit activities based on organizational risk exposure
- Preparing risk-based audit plans and annual audit programs
Day 3
Conducting Risk-Based Audit Engagements
- Defining audit objectives, scope, and audit criteria
- Developing risk-focused audit programs and testing procedures
- Identifying key controls and evaluating control effectiveness
- Gathering audit evidence through interviews, observations, and documentation reviews
- Applying analytical procedures and risk-focused testing techniques
- Documenting audit work and maintaining quality audit records
Day 4
Evaluating Controls and Reporting Findings
- Assessing the design and effectiveness of internal controls
- Identifying control weaknesses, root causes, and risk implications
- Evaluating residual risk and management responses
- Developing practical and value-added recommendations
- Writing clear, concise, and impactful audit reports
- Communicating audit results to management and stakeholders effectively
Day 5
Advanced Applications and Continuous Improvement
- Applying risk-based auditing to emerging and strategic risk areas
- Understanding continuous auditing and continuous monitoring approaches
- Auditing governance and risk management processes
- Utilizing data analytics to support risk-based audit activities
- Measuring internal audit performance and effectiveness
- Developing a personal action plan for implementing risk-based auditing practices
FAQ
Frequently asked questions
What does Fundamentals of Risk Based Internal Auditing (AGRC-017) cover?
This course covers Auditing and Governance Risk and Compliance through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on Schedule on request, with additional classroom dates and mirrored Online / Live options listed in the course schedules section.
Who should attend this course?
Internal auditors, Audit managers and supervisors, Risk management professionals
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Yes. The course detail page includes both classroom sessions and Online / Live sessions, with online options aligned to the same course dates for easier planning.
Where are classroom sessions delivered?
Classroom venues are confirmed in the schedule panel for each published session.
Still Have Questions?
Contact the academy team for course details, delivery options, and delegate guidance.
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