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Risk-Based Auditing

Name: Risk-Based Auditing Training Course
Price: 4950 USD

Developing a Focused Audit Approach that Prioritises the Organisation’s Most Significant Risks

Course Options

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Need a tailored solution or group booking discount? Contact our course advisors.

Why Choose This Course

The Risk-Based Auditing training course equips professionals to place organisational risk at the centre of a modern, strategic internal audit approach. Although many organisations recognise the concept, they do not always embed it fully across the audit cycle to generate genuine value. Participants develop practical skills for identifying, evaluating and prioritising risks according to the organisation’s actual exposure. These capabilities support the creation of an audit plan that reflects organisational priorities and the most significant areas of risk.

Globally recognised frameworks, practical tools and scenario-based examples help auditors assess risk appetite, evaluate risk responses and incorporate enterprise risk registers into audit design. Learners also develop the ability to challenge management’s risk assessments effectively, enabling internal audit to deliver insight rather than assurance alone. Structured approaches demonstrate how risk-based auditing reinforces governance, supports better decision-making and strengthens organisational resilience. The course also addresses coordination with other assurance providers, using tested methodologies, strategic techniques and real-world solutions to prevent duplication, improve enterprise-wide efficiency and enhance new or existing audit models.

This Risk-Based Auditing training course will highlight:

Identifying, evaluating and prioritising organisational risks
Developing audit plans that reflect actual risk exposure
Assessing risk appetite and evaluating risk responses
Integrating enterprise risk registers into audit design
Challenging management’s risk assessments effectively
Coordinating assurance providers to reduce duplication and improve efficiency

Course Goals

What are the Goals?

Upon completing this Risk-Based Auditing Training Course, participants will be equipped to plan and perform risk-based audits that reinforce governance and contribute to organisational objectives. The course develops strategic thinking by enabling learners to evaluate risk exposure, connect audit activities to key risks, and provide senior leadership with meaningful outcomes. Using a structured collection of tools and methods, participants will also learn to align their work with risk, compliance, and quality teams to improve audit coverage and remove overlap.

By the conclusion of this Risk-Based Auditing Course, participants will be able to:

Generate measurable value by adopting a strategic, risk-based approach to auditing
Clearly and confidently identify and audit areas of high risk
Assess risk appetite and align audit activities with it
Use structured frameworks to challenge management’s risk assessments
Develop audit plans that link directly to enterprise risk registers
Collaborate with other assurance providers on audit activities to prevent duplication
Use a proven, step-by-step method for carrying out risk-based audit assignments

Who is this Training Course for?

This Risk-Based Auditing training course is designed for:

Internal Auditors
External Auditors
Risk-Based Auditors
Audit Managers
Heads of Internal Audit
Internal Audit Supervisors
Risk Managers
Governance Professionals
Compliance Officers
Internal Control Professionals
Assurance Professionals
Finance Managers

Learning Approach

How will this Training Course be Presented?

This Auditing Training Course takes a strongly practical approach, combining established adult learning methods to strengthen understanding and support real-world application. Delivery approaches include:

Interactive Presentations: Focusing on the principles and tools of risk-based auditing
Case Studies: Drawn from real-life situations to provide hands-on learning
Step-by-Step Frameworks: Straightforward guidance for carrying out risk-based audits
Group Exercises: Encouraging collaborative development of strategies
Templates and Tools: Supplied digitally for immediate use in the workplace

Participants will return to their positions with practical insights, strategic tools, and greater confidence to lead or contribute to successful risk-based audits.

The Course Summary & Outline

Day 1

Risk Based Auditing in the Modern Era
Day 2

Evaluating the ERM (Enterprise Risk Management) Process
Day 3

Risk Based Audit Planning
Day 4

Risk Based Auditing in Practice
Day 5

Risk Based Audits of Complex Activities

The Risk-Based Auditing training course begins by examining the role and development of internal audit, the principles of risk-based auditing and its relationship with governance, risk management and internal control. It then considers how organisational objectives, risks and controls are identified and assessed, including the evaluation of likelihood, impact and residual risk. These foundations lead into defining the audit universe, prioritising areas for review and preparing a risk-based audit plan aligned with the organisation’s principal risks.

The agenda then progresses from overall planning to individual audit engagements, covering preliminary assessment, the definition of objectives and scope, and the preparation of audit programmes based on relevant risks and controls. It addresses the conduct of fieldwork through control evaluation, audit testing, evidence gathering and documentation, before turning to the development of clear findings and practical recommendations. The course concludes with the communication of audit results, the preparation of effective reports and the follow-up of agreed management actions.

Recognition

Certificate

Delegates who successfully complete the Risk-Based Auditing training course are awarded the Wallstreet Academy Certificate of Completion, recognising their achievement and commitment to professional development. Participants receive 25–30 credits, with the final allocation based on their verified attendance throughout the course.

Each Guided Learning Hour represents 60 minutes of attendance. Attendance is documented in line with the quality management principles of ISO 9001:2015, supporting accurate and consistent record-keeping.

Frequently Asked Questions

The Risk-Based Auditing training course equips professionals to place organisational risk at the centre of a modern, strategic internal audit approach. Although many organisations recognise the concept, they do not always embed it fully across the audit cycle to generate genuine value. Key topics include Risk Based Auditing in the Modern Era, Evaluating the ERM (Enterprise Risk Management) Process, Risk Based Audit Planning and Risk Based Auditing in Practice.

Key outcomes of this course include: use structured frameworks to challenge management’s risk assessments; develop audit plans that link directly to enterprise risk registers; collaborate with other assurance providers on audit activities to prevent duplication. Participants develop practical skills for identifying, evaluating and prioritising risks according to the organisation’s actual exposure.

Key outcomes of this course include: use a proven, step-by-step method for carrying out risk-based audit assignments. Globally recognised frameworks, practical tools and scenario-based examples help auditors assess risk appetite, evaluate risk responses and incorporate enterprise risk registers into audit design.

Yes. Delivery approaches include: Participants will return to their positions with practical insights, strategic tools, and greater confidence to lead or contribute to successful risk-based audits.

Key outcomes of this course include: generate measurable value by adopting a strategic, risk-based approach to auditing; clearly and confidently identify and audit areas of high risk; assess risk appetite and align audit activities with it. Although many organisations recognise the concept, they do not always embed it fully across the audit cycle to generate genuine value.

Participants develop practical skills for identifying, evaluating and prioritising risks according to the organisation’s actual exposure. These capabilities support the creation of an audit plan that reflects organisational priorities and the most significant areas of risk. Key topics include Risk Based Audits of Complex Activities.

This course is designed for Internal Auditors, External Auditors, Risk-Based Auditors, Audit Managers, Heads of Internal Audit and Internal Audit Supervisors. Although many organisations recognise the concept, they do not always embed it fully across the audit cycle to generate genuine value.

This course is designed for Internal Auditors, External Auditors, Risk-Based Auditors and Audit Managers. If you are unsure whether it matches your experience, our advisory team can help you choose the right level.