Risk Based Internal Auditing - Establishing the Methodology

True RBIA incorporates cascading the process through to each individual audit as well as the audit reporting process. The training program will focus on the establishment of a framework or methodology for RBIA and examine how to utilize risk based questions within the process steps.

Why Should You Attend:

The Institute of Internal Auditors defines risk based internal auditing (RBIA) as a methodology that links internal auditing to an organization's overall risk management framework. RBIA allows internal audit to provide assurance to the board that risk management processes are effective in relation to risk appetite. Many internal audit groups attempt RBIA but find aspects difficult to deploy within their organizations.

This webinar will explore how executing RBIA requires a pre-established methodology that includes defining the organization's risk appetite/risk tolerance and utilizing measurements that include financial, compliance, and operational metrics. Internal audit must be ready to put aside their checklists and standard work programs.

Areas Covered in the Webinar:

• Explore how to establish a risk based internal auditing (RBIA) methodology and recognize the steps involved
• Recognize the concepts of risk tolerance, risk appetite, and risk measurement
• Discover how to apply RBIA questions within each methodology phase
• Recognize how to utilize management to develop the RBIA
• Recognize which organizations are ready for RBIA

Who Will Benefit:

• Management
• Board of Directors
• Internal Auditors
• External Auditors
• Accounting
• Operational and Compliance Professionals