Complying with an Internal Auditor Approach to Risk Assessment: What to Audit and When?
Paul J. Sanchez, CPA, CBA, CFSA, CGMA ia Keynote speaker at ComplianceKey and he conducts a small 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 Audi........
Overview
This course is valuable for 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 risk assessment process.
It gives the participants a logical framework to use when faced with the assignment of preparing an annual audit plan or parts thereof.
It allows participants 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 areas are receiving appropriate audit coverage.
Why should you attend this webinar?
All those who must decide what to audit and what not audit should attend. Those who put together a plan for the board showing what will be covered via audit must carefully assess risk to determine that high risk areas are properly covered.
Areas Covered in the Session:
This webinar will cover the following:
- Definitions of business risk, monetary risk, non-monetary risk etc.
- Specific business risk such as:
- Collateral risk
- Country risk
- Credit or counter party risk
- Foreign exchange risk
- Funding 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 can Benefit:
- General auditors
- Audit management
- Internal audit staff
- Auditor management
- Board members
- Audit committee chairperson
- External auditors
