The Fundamentals of Risk-Based Auditing
4.1 (48 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
197 students enrolled

The Fundamentals of Risk-Based Auditing

This course is designed to prepare the auditor to fully embrace the risk based audit methodology concept.
4.1 (48 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
197 students enrolled
Last updated 8/2017
English
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Current price: $69.99 Original price: $99.99 Discount: 30% off
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This course includes
  • 1.5 hours on-demand video
  • 2 articles
  • 2 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll 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.
Requirements
  • No advanced preparation or prerequisites are needed for this course.
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.

Who this course is for:
  • Anyone interested in risk management, accounting, or related fields.
Course content
Expand all 13 lectures 01:17:42
+ Introduction
11 lectures 01:17:39
Why RBA?
10:18
Maturing to RBA
08:01
Traditional Approach Challenges
08:12
Expanding Role
04:31
RBA and Purpose of IA
05:34
Understanding Risk Imperative
04:36
Understanding Risk Based Auditing
05:12
Imperative 4
03:19
Imperative 5
11:39
+ Supporting Materials
2 lectures 00:02
Slides: Understanding Risk Based Auditing
00:01
Understanding Risk Based Auditing Glossary Index
00:01
+ Review and Test
0 lectures 00:00
Review Questions
6 questions
FINAL EXAM
10 questions