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Risk‐based Internal Audit
According to the Basel Committee on Banking Supervision, internal auditors and supervisors should use risk-based approaches to determine their respective work plans and actions.
Furthermore, the International Standards for the professional practice of Internal Auditing (2010) indicate that the Internal Audit’s Activity Plan of engagements must be based on a documented risk assessment, undertaken at least annually. The COSO – ERM Internal Control System is the most modern and dynamic framework to approach and assess a company’s risks, and its adoption is a major challenge as a bank’s risk profile is constantly evolving.
In addition, the audit approach has changed dramatically in the past decade so that, instead of auditing processes and systems, great emphasis is given to risk–based auditing approaches. To keep up with modern trends, internal auditors should adopt a risk-based engagement. All the more so, considering that companies rarely have excess audit capacity, thus available resources should be used effectively and efficiently.
Training Objectives
Taking part in many case studies and group discussions, participants of the seminar will understand how to systematically assess all types of risks by using a globally accepted practices and will realize their role in the risk assessment process, explore control self-assessment techniques and learn how to organize and execute risk-based auditing.
By the end of the seminar participants will attain a good understanding of the audit process currently used by world class internal audit units and will understand how to effectively execute risk–based audits.
Risk‐based Internal Audit
For 3 registrations from the same entity, a standard 10% discount will apply. For over 4 registrations please contact us.
Schedule
Wednesday 26/05/2021 - 09:00-17:15
Description
Event Details
According to the Basel Committee on Banking Supervision, internal auditors and supervisors should use risk-based approaches to determine their respective work plans and actions.
Furthermore, the International Standards for the professional practice of Internal Auditing (2010) indicate that the Internal Audit’s Activity Plan of engagements must be based on a documented risk assessment, undertaken at least annually. The COSO – ERM Internal Control System is the most modern and dynamic framework to approach and assess a company’s risks, and its adoption is a major challenge as a bank’s risk profile is constantly evolving.
In addition, the audit approach has changed dramatically in the past decade so that, instead of auditing processes and systems, great emphasis is given to risk–based auditing approaches. To keep up with modern trends, internal auditors should adopt a risk-based engagement. All the more so, considering that companies rarely have excess audit capacity, thus available resources should be used effectively and efficiently.
Training Objectives
Taking part in many case studies and group discussions, participants of the seminar will understand how to systematically assess all types of risks by using a globally accepted practices and will realize their role in the risk assessment process, explore control self-assessment techniques and learn how to organize and execute risk-based auditing.
By the end of the seminar participants will attain a good understanding of the audit process currently used by world class internal audit units and will understand how to effectively execute risk–based audits.
Past President of the Greek Institute of Internal Auditors (IIA Greece) for the period 2003-2008. Mr. Triantafyllidis is a graduate of the Athens Economic University in Economic Science and holds an MBA in Banking. He is currently an Internal Audit consultant while he has over 30 years’ experience in external auditing, internal auditing in the banking sector and as Internal Audit Manager in various subsidiaries of Greek Banking Groups. Additionally he has obtained significant further training and practice in Internal Control Systems, Internal Audit and Risk Management and global best practices in auditing . He is a Certified Internal Auditor (CIA), a Certified Financial Services Auditor (CFSA) and possesses the Certification in Control Self-Assessment (CCSA). Furthermore he is a Certified Fraud Examiner (CFE) and Accredited Valuator of the Audit Activity by the International Institute of Internal Auditors (The IIA) a field where he is very actively involved. He is member of the External Quality Evaluators of Internal Audit Units of Eurozone’s Central Banks.
See all courses by Konstantinos P. Triantafyllidis
