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Developing a Risk-Based Audit Plan

Format: On-demand

Effective internal auditing is ever-so crucial to an organization’s overall success; therefore, it requires thorough planning, coupled with nimble responsiveness to quickly changing risks — a constant in today’s business environment. To add value and improve an organization’s success, internal audit priorities should align with the organization’s objectives and address the risks with the greatest potential to affect its ability to achieve those objectives.

This course describes a systematic approach to developing and maintaining a risk-based internal audit plan, as the internal audit function works together to thoroughly understand the organization; identify, assess, and prioritize risks, engage stakeholders and estimate resources; and finalize and communicate the plan.

When applying the guidance of this course, internal auditors will be able to consider their organization’s level of maturity, especially the degree of integration of governance and risk management; and understand how to adapt the guidance to the specifics of the industries, geographic locations, and political jurisdictions in which their organizations operate.

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