The Fundamentals of Risk-Based Auditing

This course is designed to prepare the auditor to fully embrace the risk based audit methodology concept.

4.15 (141 reviews)
Udemy
platform
English
language
Accounting & Bookkeeping
category
The Fundamentals of Risk-Based Auditing
444
students
1.5 hours
content
Aug 2017
last update
$59.99
regular price

What you will learn

Explore Risk over the past decade.

Recognize the benefits of Risk Based Auditing.

Explore Risk Based Auditing (RBA) and recognize the purpose of Internal Auditing (IA).

Recognize the Risk Based (RB) Imperative.

Description

The Institute of Internal Auditors defines risk based internal auditing (RBIA) as a methodology that links internal auditing to an organization's overall risk management framework. RBIA allows internal audit to provide assurance to the board that risk management processes are managing risks effectively in relation to the risk appetite.

Many internal audit groups attempt risk based auditing but often find that some aspects are difficult to deploy within their own organizations.  This occurs due to the lack of standard understanding of the various techniques used in risk based auditing and the true intent and advantages associated with the process.  To be able to effectively develop a risk based auditing methodology and then to employ it within your organization, you must understand the premise behind the concept and the advantages and challenges it will bring.  This course is designed to prepare the auditor to fully embrace the risk based methodology concept.

If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: Understanding Risk-Based Auditing. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.

Content

Introduction

Introduction to Understanding Risk Based Auditing
Examining Risk Over The Past Decade
Why RBA?
Maturing to RBA
Traditional Approach Challenges
Expanding Role
RBA and Purpose of IA
Understanding Risk Imperative
Understanding Risk Based Auditing
Imperative 4
Imperative 5

Supporting Materials

Slides: Understanding Risk Based Auditing
Understanding Risk Based Auditing Glossary Index

Review and Test

Review Questions
FINAL EXAM

Reviews

Ricardo
November 10, 2022
It's a good eye opener esp. for those with nil knowledge of what risks are that lead to having the process of RBA.
Ferry
December 26, 2021
The knowledge gained supports my role as an internal audit member. The course contents are good, but it would be better if the practical examples are added. The explanations are good and understandable.
Paul
October 31, 2020
It was a very good session whereby I learnt a lot on Risk Based Auditing. It taught me how to develop a good risk based audit plan.
Adeniyi
May 23, 2020
Its been quite fulfilling, to know the factors to consider when implementing a risk based audit framework.
ANDRADIET
May 17, 2020
The knowledge gained really support my role as audit committee member, which parts of the scope of work is overseeing the internal audit and make sure the internal audit unit works in integrating manners with the risk management unit. The course has opened the entry point for me to deepen the RBIA.
Mohammed
April 23, 2020
I am very dissatisfied by the course. I was hoping that towards the end of the course i will be entitled to a certificate if i pass the exam.
Diptakshya
November 15, 2019
The course provided me a good insight in the area of Risk based Auditing. Recommended to all aspiring Auditors.
Saretta
January 9, 2019
To realize how the past risks influence us still today. Also to think out of the box to the unimaginable.
Patricia
October 19, 2018
It highlighted the importance of my company's vision, values and strategy. Why it's important for me to play my part. The risk factor to what I'm doing on a day to day basis
Nicholas
January 31, 2018
Was a good introduction to Risk Based Auditing. Could do with an example of how a company might go about setting one up from scratch though.

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1311056
udemy ID
8/2/2017
course created date
12/1/2020
course indexed date
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