The Institute of Internal Auditors defines Risk Based Internal Auditing (RBIA) as a methodology that links internal auditing to an organization’s overall risk management framework. RBIA allows internal audit to provide assurance to the board that risk management processes are managed effectively and appropriately to the risk appetite. But every organisation is different in terms of its attitudes to risk, organisational structures, internal processes and procedures. Experienced internal auditors need to adapt these ideas to the needs of their organisation in order to implement RBIA. Once implemented correctly, RBIA offers tremendous advantages to any company. This intensive 2-day course provides a thorough overview of RBIA processes, planning stages and measurement strategies. You will gain the practical tools to set up, analyse and manage RBIA within your organisation.
By the end of this course you will:
• Have a sound understanding of Risk Based Internal Audit function and process and be able to differentiate it from a regular internal audit approach
• Gain the tools to set up and effectively measure the framework