Guidelines For Performing A Corporate Wide Internal Audit Risk Assessment

A corporate-wide risk assessment can look overwhelming, but with a template and structured brainstorming among internal auditors, certified fraud examiners and business unit leaders, it becomes manageable. This 60-minute internal audit risk assessment webinar shares a methodology used by the internal audit department of a billion-dollar revenue corporation.

Understanding your company's risk environment is central to an effective internal audit function, and it takes experience and a habit of asking what could go wrong in any control environment. You'll learn the key components of a risk assessment and management program, the template and examples of typical projects by department, and how to brainstorm projects unique to your industry.

The session walks through the steps of the process and how to keep refining audit projects throughout the year.

• Describe the key components of a risk assessment and management program
• Use a template to document a corporate-wide risk assessment
• Brainstorm audit projects suited to your industry and departments
• Follow the steps of a successful risk assessment process
• Refine audit projects as the audit year progresses

• Key components of a risk assessment and management program
• The risk assessment template and examples of typical projects by department
• Brainstorming worthwhile projects unique to your industry
• The methodology for a successful risk assessment
• Steps in the risk assessment process
• Documenting meetings with executives and management
• Refining audit projects throughout the audit year

An entity-wide risk assessment helps internal audit work efficiently and effectively, gives a roadmap for the coming audit year and offers peace of mind. The approach is repeated annually, with templates that capture the results of meetings with executives and all levels of management.

This session suits internal audit staff and management who perform the annual risk assessment, and risk and compliance officers in any industry.

• Internal audit personnel involved in performing the annual risk assessment
• Internal audit management interested in performing a risk assessment
• Professionals responsible for performing risk assessment duties
• Risk/Compliance officer any industry

Marna Steuart has been in the audit industry for over twenty years. Ms. Steuart began her career with a big four firm as an external auditor, then as an internal auditor in different capacities in various industries. Ms. Steuart has performed collective bargaining contracts, and construction contract audits of several third-party contracts. She has also performed vendor contract audits of purchase power contracts and third-party vendor contracts for services throughout her career as an internal auditor. She has firsthand knowledge of where to look in a contract for possible risks and of case studies that would save thousands of dollars’ for organizations.