Risk Assessment approach to auditing no longer an option; one key to success.

Risk Assessment Seminar
Brief Overview (8 - 16 Hours Suggested)
Assessing risk in today's environment is very difficult and vastly different than it was yesterday. The audit universe looks entirely different today and the way we "cut it" impacts our risk prioritization. Risk assessment is necessary if we are to audit effectively, efficiently and economically. The risk assessment methodology used needs to be comprehensive and used to "drive" you to the business areas with the highest degree of risk. Your risk assessment results should dictate your resource needs
Course Outline
RISK & MANAGEMENT DECISIONS & RISKS BALANCING CONTROLS & RISK RISK FACTORS What are they? What do they look like? Qualitative/Quantitative Subjective/Objective RISK Evaluating & Measuring Starting & Stopping THE "NEAR MISS" METHODOLOGY LIFE CYCLE OF A RISK EXPOSURE BUILDING YOUR RISK ANALYSIS PLAN TIEING RISK TO THE AUDIT PROCESS AUDIT UNIVERSE Defining it Cutting it AUDIT RISKS Compliance Testing Substantive Testing Sampling RISK ASSESSMENT MODELS

Risk Assessment Seminar