Risk Based Integrated Auditing
RBIA Seminars
Public RBIA courses are scheduled several times each year in the USA. The regularly scheduled public RBIA courses readily facilitate ongoing training for audit departments. In addition, in-house courses are held on a worldwide basis and are scheduled to meet our customers needs. RBIA has been held in Europe, the Middle East, and in Australia.
The RBIA course is five days in duration. Three days involve discussion of the value, theory, organization and methodology concepts. The remaining two days demonstrate the application of RBIA to two difficult case studies that have been derived from real life audits. (Agenda)
Over 3,000 auditors have been trained in RBIA. See other parts of this web page for information concerning the Inside RBIA newsletter and other RBIA support products.
Program Objectives
Today’s fact of corporate life: companies treat audit departments as overhead cost centers; every overhead cost function must produce value greater than cost to survive; companies want their audit department to help improve the company’s control environment, not play “point the finger” games. RBIA is based on these common sense business principles. You will learn how to run the audit department on business principles, not traditional audit theoretical concepts. You will learn how to audit the risks that threaten your customer’s ability to be successful. You will learn how to deliver value greater than cost on every audit that you do.
Program Content
Theory
- Audit Value Governance-Management-Performance Tool
- Business Function Analysis Tool
- Limits of Risk Tool
- Management Control Structure Tool
- Business Controls for Processes & Systems Tool
- Sarbanes – Oxley 404 software tool
Methodology
- Developing the Audit Universe
- Audit Value Circle
- Identifying the Audit Customer
- Determining Business Risks
- Team Success Objectives
- Limits of Risk
- Management Control Structure
- Forming Risk Driven Hypothesis
- Testing and the Standard of Proof
- Communicating the Results
- Documentation
- Continuous Monitoring
Organization
- Hierarchies vs Teams
- Audit Department Organization Structure
- Roles of Team Members
- Scheduling
- Success Measures
What You Will Learn
- Define and measure audit value
- Select audit subjects to significantly increase audit value to key audit customers (not middle management)
- Deal with critical audit issues over project or process re- engineering governance
- Apply fundamental control concepts in business systems and processes
- Assess and measure business risk to identify and eliminate over control
- Identify and appraise management control structures to minimize the time spent testing detailed controls
- Reduce audit management overheads by organizing in self-directed audit teams
- Apply fast and inexpensive audit tests to reduce audit cost and increase value
Who Should Attend
- General Auditors looking for new ideas
- Audit managers looking for ways to increase productivity
- Auditors who want to learn to work in teams
Course Level and Prerequisites
Intermediate. There are no prerequisites or advanced preparation.
Instructional Method
Group-live offering.
Product Code: 804
CPE Credits: 40 hrs
Duration: 5 days
Price: $1,395.00
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