Using Risk Assessment to Develop Your Audit Plan

Using Risk Assessment to Develop Your Audit Plan

Using Risk Assessment to Develop Your Audit Plan
Wednesday, July 17, 2019
12:00 pm – 1:30 pm Eastern 

 

This audit webinar is valuable for internal 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 overall risk assessment process.

It gives the webinar attendees a logical framework to use when faced with the assignment of preparing an annual audit plan or parts thereof. It also allows attendees 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 auditable activities are receiving more appropriate audit coverage than low risk auditable activities.

All those who must decide what to audit and what not audit should attend. It is valuable for those who put together a plan for the board or its audit committee showing what will be covered via audit. It explains that the audit plan and the audit coverage is determined after a careful assessment of business risks.

Topics Covered:

  • Definitions of business risk, monetary risk, non-monetary risk etc.
  • Specific business risk such as:
    –      Capital risk –      Insider risk
    –      Collateral risk –      Interest rate risk
    –      Concentration risk –      Management risk
    –      Country risk –      Market risk
    –      Credit or counter-party risk –      Operations risk
    –      Foreign exchange risk –      Regulatory risk
    –      Funding risk –      Strategy 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 Should Attend?  

General auditors, Audit management, Internal audit staff, Board members, Audit committee chairperson, External auditors

Speaker:

Paul Sanchez,  PSA Professional Service Associates / Founder

Paul J. Sanchez, CPA, CBA, CFSA conducts a 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 Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by BankersHUB

If you are having issues with registering online, please contact CBAO's Education & Training Coordinator, Lianne Simeone, (614) 610-1877

Registration Options
Live Webinar: Register for the live event and get five days access to the On Demand Playback. You’ll have an opportunity to ask questions during the presentation and be free to review the content for the next 5 (business) days Registration also includes links to presenter materials, handouts, and pdfs.
Additional Hookups: Registering another banker from a different location
 
When
7/17/2019

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