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Risk Based Internal Auditing

Risk Based Internal Auditing

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Published by: armada589162 on Dec 30, 2009
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10/03/2012

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Risk based internal 
 
auditing 
 
Anintroduction
www.internalaudit.biz
DavidGriffiths
PhD FCA
15 March2006Version 2.0.3
 
RBIA An introduction - contents
 
©David M Griffiths Version: Internalauditv2_0_3.doc Last updated: 15/03/2006 20:48
Contents
Biography – David GriffithsIntroduction1Why does internal auditing exist?1.1 What’s its main aim?1.2 So we’ve got risks?1.3 How do we manage risks?1.4 Who’s responsible for risks?1.5 Where does internal auditing fit in?1.6 Where does ‘risk management’ fit in?1.7 Summary2Does it have to exist?2.1 Who says so?2.2 London Stock Exchange2.3 The Turnbull guidance2.4 The Smith guidance2.5 Sarbanes-Oxley2.6 PCAOB2.7 The Institute of Internal Auditors2.8 Management2.9 Summary3How does internal auditing find risks?3.1 The role of internal audit3.2 The role of management3.3 Finding and evaluating all the risks3.3.1 Finding risks and controls - an example3.3.2 The elements3.3.3 Objectives and processes3.3.4 The process map3.3.5 The elements3.3.6 Before or after internal controls?3.3 What risks are we prepared to accept?3.4 Finding the significant risks3.4.1 Start at the top3.4.2 Interviewing3.4.3 Risk workshops
 
RBIA – An introduction - contents
 
©David M Griffiths
3.4.4 The accounts3.5 Recording the risks3.5.1 What we’ve got so far 3.5.2 The risk register 3.5.3 Updating the register 3.6 Life in the real world3.6.1 Levels of risk maturity3.6.2 The impact of risk maturity4RBIA - the foundations4.1 What is risk based internal auditing?4.2 The organisation’s requirements4.3 The RBIA stages4.4 The RBIA documentation4.4.1 The risk and audit universe (RAU)4.4.2 The audit database4.4.3 Other important documentation4.4.4 Summary4.5 Stage 1 reliability of the risk register 4.5.1 Objective of this stage4.5.2 Internal audit work4.5.3 Opinion4.6 Stage 2 Compiling the risk and audit universe4.6.1 Objective of the stage4.6.2 Which risks?4.6.3 Grouping risks into audits5Compiling the audit plan5.1 Objective of the stage5.2 Why an annual plan?5.3 When to audit?5.4 Which audits?5.5 Resources5.6 The ongoing risk and audit universe5.7 Publishing the annual plan5.8 Quarterly plan6Providing the opinion6.1 Objective of the stage

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