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Essentials of Risk-Based Auditing

Course Category Audit

January 05 - 07, 2021

9:00 a.m.

Change

Virtual

This virtual course will be delivered regionally via Zoom.

Registration is open to insular government professionals.

Due to this course's focus on group participation and discussion, attendance is capped at 30 participants. Attendance is limited to APIPA member audit principals and up to two senior staff members designated by the Principal. This specialized program is intended for APIPA Principals and 1-2 directly-reporting officials from each of the APIPA member audit offices. Attendance is capped at 30 participants. Audit Principals and 1 or 2 designees per office are encouraged to register, up to three officials per APIPA audit office.

Course Description

Understanding risk is one of the auditor’s greatest assets. During this workshop, participants will explore a wide variety of risks including internal, external, entity-wide, activity-level, financial, operational, and reputational. Furthermore, participants will study the COSO framework to enhance their knowledge of risk and control. Finally, participants will develop a risk-based audit program to reinforce concepts learned.

Throughout the workshop, participants will practice skills learned in individual and small-group exercises.

What You Will Learn

Overview of Risk

Smart ways to categorize risk
Assessing risk at the entity and activity levels
The auditor’s role in risk management

The COSO Framework

Internal Control – Integrated Framework: Key concepts
Using the framework to understand and identify risks

The Entity-wide Risk Assessment

The audit universe
Organizational objectives
Risk categories/factors
Common risk assessment methods

The Activity-level Risk Assessment

Planning the risk-based audit
Performing the risk assessment
Information sources for identifying and assessing risks
Linking entity and activity-level risks
The objective−risk−control model
Tools to identify, measure, and prioritize risks
Developing risk-based audit programs

Who Should Attend

This specialized program is intended for APIPA Principals and 1-2 directly-reporting officials from each of the APIPA member audit offices. Attendance is capped at 30 participants. Audit Principals and 1 or 2 designees per office are encouraged to register, up to three officials per APIPA audit office.

Tuition Fees

With funding support from the United States Department of the Interior, Office of Insular Affairs, courses are available free of charge for government accountability professionals within the insular areas. The course fee is waived and there is no cost to register and attend, Professionals who do not meet the above criteria, please contact [email protected].

NEXT SESSION

DAYS

HOURS

MINS

SECONDS

January 05 - 07, 2021

9:00 a.m. to 12:00 p.m.

Change

CPEs - 9 Credit Hours

Virtual Delivery

Course Description

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This course has been delivered

Instructor

Margie P. Bastolla

Orlando, FL

Margie Bastolla helps internal auditors and other oversight professionals write reports that get results! She has trained thousands of auditors in over 40 countries on topics such as risk management, internal control, operational auditing, and communication skills.

Photo Gallery

Photos from recent activities hosted by the Pacific and Virgin Islands Training Initiatives (PITI-VITI) in support of conferences, training and leadership development, are available below.