This three-day seminar is meant to establish a framework for building a continual/continuous risk assessment tool for auditors who want to be at the top of their game and be leading edge practitioners. The 21st century organizations that you are responsible for reviewing and also providing assurance on to the Senior Executives and the Audit Committee are far outstripping your ability to do so. In addition, the number and intensity of emerging risks that organizations are experiencing are accelerating at a mind boggling pace. Auditors have now found themselves at a cross roads where they have some very significant strategic audit decisions to make. It has now become time to realize that we have to cross the road from physical presence to logical presence if we are going to continue to be effective and value added.

In this seminar you will learn the art of defining and building the most highly effective methodology of identifying the key risks of the organization on an enterprise basis and how to define those risks in terms of KRI’s (Key Risk Indicators-data based). You will learn how to insure that all key risks of the organization are being actively evaluated on a continuous/continual basis to insure highly effective governance. You will also learn how to develop and optimize a dynamic risk based audit plan that will keep the audit function in constant contact with the key risks of the organization to maximize your effectiveness and coverage while minimizing required resources. 

This will be a very interactive workshop requiring active participation in each of the key areas for participants to define, design and build each of the components to establish the basic components of a continuous/continual risk model. 

To ensure you get the most out of this seminar, you are encouraged to bring a laptop.

Prerequisite: Using Risk Assessment to Build Individual Audit Plans (OAR321), Data Mining (OAR215) or equivalent experience
Learning Level: Intermediate          Field: Auditing
Delivery Method: Group-Live