A practical guide to evaluating risks and controls

There are many theoretical models and tools covering risk management and internal control. The challenge for internal auditors is to understand their benefits and use them in the practical and effective application of internal audit processes. This course will help you apply theoretical knowledge to practical situations and increase your confidence in the definition of risks and controls in a manner that will improve the effectiveness of your internal audit work.

Who should attend?
Internal auditors who have an appreciation of internal audit processes, but wish to gain a deeper understanding of how theoretical models can be applied to their everyday work.

How will this course benefit you?
Upon completion you will be able to:

• apply risk and control frameworks to a range of internal audit processes
• work with management at all levels to identify and understand key risks and controls
• define risks and controls in a manner that will helpprovide the correct focus for the internal audit work
• use risk and control models to evaluate controls/other risk mitigation strategies
• appreciate the role of monitoring within risk and control frameworks
• design test strategies suited to each unique situation
• use risk and control models to interpret internal
• audit results, put findings in a business context and formulate useful recommendations
• feel confident when discussing risks and controls with management at all levels
• use appropriate terminology related to risks and controls.