Risk Based Auditing

Who should attend:
These webinars are part of the VBPM Wisdom Workshop Series. The topics and content provide innovative, integrated approaches to portfolio/program/project management designed to enhance business sustainability.

Business Objectives:
• Gain a greater understanding of what constitutes risks within a work environment
• Know the objective fundamentals and application of risk based
• View risk-based auditing as a process, methodology and attitude

Description:
Audit functions have the opportunity to add value to the enterprise when planning and executing audits. One approach that adds value to the enterprise is risk-based auditing. Software tools are great but an understanding of objective fundamentals and application of risk-based auditing will enhance the value of any audit. It is surprising to learn that many companies still do not have a fundamental understanding of what constitutes risks within their work environment. If there is an understanding of risk it is performed subjectively to allow multiple interpretations so the one with the more power or clout easily wins. Not a good approach to holding back the tsunami that is on the horizon or right in front of your eyes. [If you haven’t seen the movie “Margin Call” then get it.] Risk-based auditing is a process, an approach, a methodology and an attitude. It is about auditing the things that really matter to the organization and exploring the probabilities and consequences deeper.

Download the slides

Online 9/26/2012
Updated on: