Risk analysis in long term audit planning and audit preparation – part II

You can find part I of this article here. Phase 2 - Analysis at the level of the area of responsibility (auditable area)Internal audit’s responsibility for the proper application of risk based analysis in the preparation of its audit activities does not end with the multi-year audit planning or its actualisation. Each area of responsibility … Continue reading Risk analysis in long term audit planning and audit preparation – part II

Risk analysis in long term audit planning and audit preparation – Part I

The IIA standards require us to develop a risk based internal audit planning. There is however little material available on how organisations actually perform this. Organisations with good risk management systems can provide information from these approaches or systems to internal audit. However, if there are no risk management systems available, you will need to … Continue reading Risk analysis in long term audit planning and audit preparation – Part I

Reducing the effort of risk based internal audit planning

Risk based internal audit planningThe IIA's standards require us to prepare a risk based internal audit planning. However, if risk assessment and management is not (yet) embedded in your organization, it requires a concerted effort from the auditees to provide you with the relevant information. Given this is not necessarily a priority to them, are … Continue reading Reducing the effort of risk based internal audit planning