"Risk Assessment: Real Tools and Techniques to Identify, Audit and Manage Risk" - February 25, 2005

"Risk" is a topic high on the list of most businesses and government agencies -- how should we best manage risk? How can we audit risk? And, most importantly, how can we assess the risks our organizations face -- in advance of them becoming real problems? In this exciting one-day training session, you'll learn all about the components of risk assessment, including up-to-date analysis of new risk management frameworks.

You will learn how to use straightforward tools to assess risk in your organization and take steps to reduce it. As a manager, auditor, or risk professional, you will gain real-world training that you can put to work on the job immediately!

The seminar will cover the following major topics:

• Up-to-date risk assessment tools, including the latest from the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and it's new Enterprise Risk Management framework, and the views of the IIA, AGA, AICPA.

• Details of risk assessment under the COSO ERM framework.

• Learn how to identify an organization's business objectives, which become absolutely key to deciding which risks an organization is taking, and how significant those risks could be, including assessing risk at the company/organization and unit level.

• You'll learn how to match up your organization's limited audit resources against the risks the organization faces.

• We'll discuss the notion of "audit risk", (the odds that a particular risky issue is not discovered in an audit) and how to take steps to control for it.

• We'll develop tools to segment the organization along different risk model bases (time, employees, specific risks).

• By the end of this session, you'll be equipped with skills and tools, including take-away tools for conducting and using risk assessments in the audit process.