Guidelines For Performing a Corporate Wide Internal Audit Risk Assessment

• OVERVIEW

Performing a corporate wide Risk Assessment can seem like a daunting task for an organization. In reality, it can be done using a template and brainstorming with internal auditors, certified fraud examiners and business unit leaders throughout your organization. Understanding your Company’s Risk Environment is key to having an effective Internal Audit organization, it helps to have significant experience in internal auditing and a mind for coming up with “what could go wrong” in any control environment. The corporate wide Risk assessment can be performed to maximize the efficiency and effectiveness of any organization with a diligent template and process for performing the assessment. This webinar will equip you with a methodology that has been utilized in a robust internal audit department for a Billion dollar revenue Corporation.

• LEARNING OBJECTIVES

• The key components of a Risk Assessment and Management Program
• The template for a risk assessment and examples of typical projects that may come up in various departments.
• Brainstorming your industry and the unique types of projects that can be worthwhile projects.
• The methodology for successful Risk Assessment process.
• The steps involved in the Risk Assessment process.
• Continual refinement of audit projects throughout the Audit Year.

• WHY SHOULD YOU ATTEND

With an increased awareness of the effectiveness of Internal Audit organizations and the ongoing cost to organizations, an entity wide risk assessment is imperative to all organizations to maximize the efficiency and effectiveness of an Audit Organization. Performing a corporate wide risk assessment is doable, and can provide internal audit and its organization a roadmap for the upcoming audit year and also provide peace of mind for having gone through the process. The methodology has been utilized successfully in billion dollar industries, it is completed on an annual basis using templates that provide the mechanism for documenting the results of numerous meetings with Company Executives and all levels of Management conducted during the risk assessment process.

• WHO WILL BENEFIT?

• Internal audit personnel who perform audits and develop audit manuals
• Internal audit management interested in developing an audit manual for different types of audits
• Professionals responsible for developing manuals for performing audits
• Management concerned with efficiency and effectiveness of the audit department