Skip Ribbon Commands
Skip to main content
The Institute of Internal Auditors North AmericaBreadcrumb SeparatorTraining and EventsBreadcrumb SeparatorCoursesBreadcrumb SeparatorRisk Management Assurance: Developing Your Internal Audit Strategy
Course Description Course Outline Bring Us On Site  

Risk Management Assurance: Developing Your Internal Audit Strategy

Course Description

Print-friendly Course Description and Outline

Many audit committees have recognized the need to increase their oversight of strategic and other mission critical risks. The scope, frequency, and complexity of these major risk events are increasing. These major risk events have shaken financial markets and global economies, and raised serious questions about the effectiveness of many organizations’ risk management processes.

This course will help you develop or validate your strategy for carrying out your risk management assurance and consulting responsibilities. You will compare the major risk management frameworks that can be used in a risk management assessment, as well as have an opportunity to examine the key principles and features of the frameworks. Case studies and small group activities will be used to apply the principles to real-world situations. You will also discuss internal audit assurance approaches/consulting activities and collect new ideas to improve your organization’s risk management process.

Ideally, participants in this course work within organizations that have an auditable risk management process or are well along in their implementation efforts. If these prerequisites aren’t met, The IIA’s Enterprise Risk Management: Elements of the Process course would be a better selection.

Course Objectives

  • Compare the major frameworks and resources that can be used in risk management assessment and assurance.
  • Evaluate the alignment of risk management and objective setting at all levels to achieve strategic initiatives.
  • Benchmark risk management processes using authoritative guidance.
  • Assess the key elements of a risk culture that are needed to create and sustain an effective risk management process.
  • Develop or validate your internal audit activity’s risk management assurance/consulting strategy.
  • Summarize new ideas/insights, prioritize opportunities, and identify next steps.
Course Duration: 2 day(s)
CPE Hours Available: 16
Knowledge Level: Intermediate
Field of Study: Auditing
Prerequisites: 

None

Advance Preparation: 
​None
Delivery Format: On-site Training (Group-Live); Seminar (Group-Live)

​Risk Management Assessment Frameworks

  • Major risk and control frameworks
  • Fundamental concepts and features in the COSO frameworks
  • Fundamental concepts and features in the ISO 31000 risk management framework
  • Relationship between IPPF guidance and major risk and control frameworks
  • High-level assessment of your organization’s risk management process

Alignment of Risk Management & Objective Setting

  • Key principles in the objective setting component of the ERM frameworks
  • Techniques and practices used to align risk management with objective setting
  • Internal audit assurance approaches and consulting activities
  • New ideas and insights to improve your organization’s risk management process

Risk Management Process Assessment

  • Key principles related to the risk management process components of the ERM frameworks
  • Risk management process “essential practices”
  • Risk management process maps

Risk Culture Assessment

  • Impact of risk culture on the risk management process
  • Key principles related to the risk culture component of the ERM frameworks
  • Ideas and insights to improve your organization’s risk management culture and process

Internal Audit Assurance & Consulting Strategies

  • Using IPPF resources to develop a risk management/consulting strategy
  • Internal audit’s risk management roles and responsibilities and how they will work for your internal audit activity
  • Risk management assurance approaches
  • Designing audit guides for several complex risk management activities.

​Most courses can be delivered through on-site training. You might be surprised that the organization leading the profession is just as committed to the delivery of affordable training.

Contact us by calling +1-407-937-1388 or send an e-mail to GetTraining@theiia.org.

LocationsDates