Risk-based auditing ensures that the internal audit activity is focusing its efforts on providing assurance and advisory services related to the organization’s top risks. Through risk-based auditing, the internal audit activity helps executive management and the board understand whether the organization’s risk management processes are sufficient and how to better achieve organizational objectives through good governance, risk management, and control. This requires internal auditors to have a working knowledge of basic concepts, frameworks, tools, and techniques related to risk and risk management.
This training is a great place to start. It starts with an overview of risk management principles, including foundational concepts such as the nature of risk, risk sources and categories, risk appetite, and risk tolerance. With an emphasis on theory, this course prepares new internal auditors to become effective participants in performing risk-based internal audits. This course includes interactive activities based on real-life scenarios that participants can apply to their own organization.
