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Quality and Operational Auditing
Risk Informed Auditing Mastery
Overview:
Introduction:
This training program is designed to equip professionals with the knowledge and skills needed to conduct monitoring, evaluation, and risk-based auditing effectively. It empowers them to drive sustainable organizational success.
Program Objectives:
At the end of this program, participants will be able to:
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Understand the principles and methodologies of monitoring, evaluation, and risk-based auditing.
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Develop audit plans tailored to organizational risks and performance objectives.
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Conduct comprehensive audits to assess compliance, performance, and risk management.
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Analyze audit findings and provide evidence-based recommendations for improvement.
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Enhance organizational resilience and effectiveness through risk-informed auditing practices.
Targeted Audience:
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Internal auditors responsible for monitoring, evaluation, and risk-based auditing.
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Risk management professionals involved in assessing organizational risks and controls.
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Compliance officers tasked with evaluating regulatory compliance and risk exposure.
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Audit committee members and senior executives interested in risk-informed auditing approaches.
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Professionals seeking to enhance their skills in monitoring, evaluation, and risk-based auditing.
Program Outlines:
Unit 1:
Introduction to Monitoring, Evaluation & Risk-Based Auditing:
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Overview of monitoring, evaluation, and risk-based auditing principles and methodologies.
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Key objectives and benefits of adopting risk-informed auditing practices.
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Understanding the relationship between risk management, performance evaluation, and auditing.
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Legal and regulatory requirements governing auditing and risk management practices.
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Case studies illustrating the value of monitoring, evaluation, and risk-based auditing for organizational resilience.
Unit 2:
Developing Audit Plans for Risk-Based Auditing:
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Steps to develop comprehensive audit plans aligned with organizational risks and performance objectives.
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Identifying audit scope, objectives, and criteria based on organizational risk assessments.
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Creating risk-based audit checklists and documentation for effective audit execution.
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Planning resources and ensuring auditor competence for risk-based audits.
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Aligning audit plans with regulatory requirements and industry best practices.
Unit 3:
Conducting Risk-Based Audits:
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Techniques for planning and conducting risk-based audits.
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Assessing compliance with regulatory requirements and internal policies.
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Evaluating the effectiveness of risk management practices and controls.
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Identifying and assessing key risks impacting organizational objectives.
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Documenting audit findings and assessing residual risks.
Unit 4:
Analyzing Audit Findings and Providing Recommendations:
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Analyzing audit findings to determine their significance and impact on organizational performance and risk exposure.
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Prioritizing findings based on their potential to affect organizational objectives.
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Developing evidence-based recommendations to address identified weaknesses and gaps.
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Communicating audit results and recommendations effectively to stakeholders.
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Facilitating discussions and providing guidance on implementing risk mitigation measures.
Unit 5:
Enhancing Organizational Resilience Through Risk-Informed Auditing Practices:
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Strategies for integrating risk management and auditing processes to enhance organizational resilience.
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Establishing mechanisms for ongoing monitoring and evaluation of organizational risks and controls.
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Embedding risk-informed decision-making processes across all levels of the organization.
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Strengthening the audit function's role in identifying emerging risks and opportunities.
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Promoting a culture of continuous improvement and risk awareness within the organization.