Using Risk Assessment to Develop Your Audit Plan
Using Risk Assessment to Develop Your Audit Plan
Tuesday, November 24, 2020
12:00 – 1:30 pm (Eastern Time)
This audit webinar is valuable for internal auditors at all levels. It is designed for auditors who are responsible for auditing, reviewing or otherwise “covering” business risks. It takes the mystery out of the overall risk assessment process.
It gives the webinar attendees a logical framework to use when faced with the assignment of preparing an annual audit plan or parts thereof. It also allows attendees to “solve” the pressing problem of providing comprehensive audit coverage with limited resources.
The risk assessment approach gives auditors a plan that assures management and the audit committee that resources are being allocated so that high risk auditable activities are receiving more appropriate audit coverage than low risk auditable activities.
Topics include:
- Definitions of business risk, monetary risk, non-monetary risk etc.
- Specific business risk such as: Capital risk, insider risk, collateral risk, interest rate risk, concentration risk, management risk, country risk, market risk, credit or counter-party risk, operations risk, foreign exchange risk, regulatory risk, funding risk, strategy risk
- The external audit risk model
- The multi-phase audit approach
- The risk assessment step by step process
- Types of risk audit coverage
- The payback for using risk-based auditing
Who Should Attend:
- General auditors
- Audit management
- Internal audit staff
- Board members
- Audit committee chairperson
- External auditors
Instructor
Paul Sanchez
PSA Professional Service Associates / Founder
Paul J. Sanchez, CPA, CBA, CFSA conducts a CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University – C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors.
Attendance verification for CE credits provided upon request.
Webinar Sponsored by BankersHUB
If you are having issues with registering online, please contact CBAO's Education, Training & Special Event Coordinator, Patti Webb, (614) 610-1877.
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