Page 18 - Verracy's 2019 Course Catalogue

Effective Risk Based Audit Planning and Engagement Fraud Risk Assessments for
Execution Audit

IA-105 16 IA-106 16

CPEs CPEs

Risk-based auditing requires a deep understanding of the All organizations are subject to fraud risk. Association of
business, business objectives and operating rules to properly Certified Fraud Examiners (ACFE) studies show that an average
identify, evaluate, and prioritize business risks. Business objec- of 5% of revenue is lost to internal fraud schemes within an
tives and operating rules—the primary drivers of risk—have to organization. Today internal auditors are expected to lead the
be fully understood to ensure risks are identified and effectively charge in the fight against fraud. To accomplish this, auditors
evaluated. must understand how to properly identify and assess potential
fraud risk and then incorporate those skills and this knowledge
This course will provide auditors with the skills necessary to into their audit programs. Historically fraud detection programs
plan and execute an effective risk-based audit that delivers and internal audit programs were separate, but today, comb-
measurable results to the organization. ining these efforts provides clear advantages that organizations
can benefit from.
Participants will learn through lecture, group discussion, case
studies, and small group exercises to ensure an interactive This course will help individuals learn and develop the skills
experience. necessary to drive, implement, and execute an effective Fraud
Risk Assessment as part of an individual engagement or as
part of the overall Fraud Risk Program and then incorporate
fraud detection methods into the audit engagement.

This highly interactive class achieves its learning objectives
through the use of case studies, exposure to best practices
tools and techniques, and group exercises.

What You Will Learn: What You Will Learn:
• Understand risk and types of risk • Learning how to conduct a Fraud Risk Assessment
• Learn to identify, evaluate, and prioritize risk in your • Understanding basic fraud concepts
organization • Learning to identify and assess risks
• Enhance interview and research skills needed to • Understanding the steps of a Fraud Risk Assessment
understand the business and identify risks program
• Strengthen one’s skills in developing risk-based audit test • Introducing appropriate frameworks for assessing
steps and work programs fraud risks
• Learn to utilize tools for planning and executing risk-based, • Tools commonly used for frameworks, scorecards, and
properly scoped audits that are targeted and focused on reporting templates
the most significant areas of the business and processes • How to blend risk assessment and fraud auditing
techniques into every engagement

Group Live | 2 Days | Intermediate | Auditing Group Live | 2 Days | Intermediate | Auditing
Who Should Attend: Internal Audit Staff & Management Who Should Attend: Internal Audit, Accounting & Operations
Prerequisites: Auditors with at least 2 years experience Staff & Management
Prerequisites: Professionals with at least 2 years of experience