| Description |
1 online resource (238 pages) |
| Contents |
Cover Page; Dedication; Title Page; Copyright Page; Contents; List of Figures; List of Tables; Introduction; 1 What is Risk-based Audit?; The Internal Audit identity crisis; Definitions and outline; The challenges for Internal Audit; The trends; Changing the focus; Institute of Internal Auditors professional standards; What is the role of the function? Policeman, risk assessor or consultant?; How Internal Audit has developed; Summary; 2 The Need to Understand Risk; Approaches to risk management; Definitions; Wrong assumptions about risk; How misunderstanding risk can spell disaster |
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Surprises and riskRisk and culture; Risk management policy; Introducing a risk management programme; Benefits and success measures; Risk examples; The Australia/New Zealand Risk Management Standard 4360; The COSO Framework for Enterprise Risk Management; The Sarbanes-Oxley Act 2002; Other standards; 3 Refocusing the Audit Role to Embrace Risk; The changing scope of modern Internal Audit; Understanding the expectations of Chief Executives; Summary; Options for involvement of Internal Audit in risk management; How to facilitate a successful risk management programme; Risk identification |
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Measurement of riskThe risk management programme; People and process risks; Engaging management; Risk mitigation; Assessing actual versus perceived controls; Risk exposures; Risk registers; Monitoring management action plans; The need to enhance the skills base; How to undertake a skills inventory; 4 Risk-based Audit Planning; Risk-based strategic audit planning; Determining the audit universe; Translating key risks from the business risk process into the basis of the audit programme; Determining the level of assurance required; Determining minimum acceptable audit coverage |
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Determining audit priorities and developing the planAudit risk analysis model; Worked example of an audit assessment using the model; The audit priority schedule; Which risks are not easily auditable?; 5 Undertaking a Risk-based Audit; Risk-based assignment planning; Establishing the assignment plan; Determining the functional objectives; Building a picture of the risks; Determining the level of testing required; Methods of testing; Dealing with audit customers; Audit programmes; The use of audit tools; Determining the threats to success; 6 Risk-based Audit Reporting; Objectives of reporting |
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Who is the report for?The need for reports with impact; What makes a good report?; Forty questions about reports; Professional standards; How to link objectives, risk and audit observations; The Executive Summary; The best practice main report; Writing reports; Simplifying the report; More audit reporting ideas; 7 Measuring Success and Marketing Risk-based Audit; What do management think of you?; The reputation of your team and how to assess it; Risk-based audit key performance indicators; Benchmarking; Marketing a risk-based approach; The need to explain the process |
| Notes |
8 Corporate Assurance and the Internal Audit Role |
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Print version record |
| Subject |
Auditing, Internal.
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Risk management.
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Risk Management
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risk management.
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Auditing, Internal
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Risk management
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| Form |
Electronic book
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| ISBN |
9781317062707 |
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1317062701 |
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