The Fundamentals of Risk-Based Auditing

Course details

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 managing risks effectively in relation to the risk appetite.

Many internal audit groups attempt risk based auditing but often find that some aspects are difficult to deploy within their own organizations.  This occurs due to the lack of standard understanding of the various techniques used in risk based auditing and the true intent and advantages associated with the process.  To be able to effectively develop a risk based auditing methodology and then to employ it within your organization, you must understand the premise behind the concept and the advantages and challenges it will bring.  This course is designed to prepare the auditor to fully embrace the risk based methodology concept.