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.
All those who must decide what to audit and what not audit should attend. It is valuable for those who put together a plan for the board or its audit committee showing what will be covered via audit. It explains that the audit plan and the audit coverage is determined after a careful assessment of business risks.
This audit webinar will specifically cover the following topics:
- 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
Those individuals who will benefit from this webinar include:
- General auditors
- Audit management
- Internal audit staff
- Board members
- Audit committee chairperson
- External auditors
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.
1.5 CPE Credits & 1.8 AAP Credits