Strategic Risk-Based Internal Auditing: Strengthening Governance and Assurance
Course Introduction
In an era of increasing complexity, volatility, and regulatory scrutiny, internal audit functions must move beyond compliance and embrace a truly **risk-based approach**. This five-day intensive programme provides a strategic and practical roadmap to enhance audit effectiveness, align audit planning with enterprise risks, and strengthen assurance to the board and senior management.
Participants will gain the tools and insights to **integrate enterprise risk management (ERM)** with internal audit planning, develop **risk-responsive audit strategies**, and **elevate internal audit’s contribution to governance, risk, and control (GRC)** across the organisation.
Course Objectives
By the end of this programme, participants will be able to:
* Identify key stakeholders to consult during the internal audit planning process while avoiding over-consultation.
* Apply powerful “killer” and follow-up questions to shape effective, risk-based annual audit plans.
* Link the internal audit plan to key enterprise risk areas while maintaining essential assurance coverage.
* Incorporate value and value-add principles into the audit planning process.
* Manage differing expectations between senior management and the audit committee constructively.
* Address audit resource questions strategically to promote productive dialogue on capability and capacity.
* Implement best practices for long-term audit planning horizons, annual plans, and ad hoc audit engagements.
* Strengthen the relationship between internal audit leadership and senior stakeholders through effective planning and engagement.
* Adopt a risk-based approach to internal auditing aligned with ERM frameworks.
* Evaluate the internal audit function’s readiness for risk-based auditing and design a plan for successful implementation.
Methodology
This programme combines **expert-led discussions**, **interactive workshops**, **real-world case studies**, and **group-based simulations**.
Participants will engage in exercises that replicate the challenges of risk-based planning, stakeholder communication, and audit execution in dynamic business environments.
Key Benefits
* Master the process of building and executing a strategic, risk-based internal audit plan.
* Enhance your understanding of how internal audit supports corporate governance and risk management.
* Improve communication and collaboration with senior management and audit committees.
* Strengthen audit credibility by linking assurance work directly to key risk drivers.
* Gain practical tools and frameworks for embedding risk-based auditing across your organisation.
* Elevate your audit function from compliance enforcer to strategic advisor.
Who Should Attend
This course is ideal for:
* Chief Audit Executives (CAEs)
* Internal Audit Managers and Senior Auditors
* Risk and Compliance Officers
* Governance Professionals
* Financial Controllers and Assurance Specialists
* Professionals involved in risk management or enterprise assurance frameworks
5-Day Detailed Course Outline
Day 1 – Strategic Audit Planning Foundations
* The evolving role of internal audit in governance and risk management
* Understanding business objectives and risk landscapes
* Who to consult when developing the audit plan — managing stakeholder expectations
* Identifying “killer” and follow-up questions to uncover true risk priorities
* Avoiding over-consultation and ensuring focused audit planning
Day 2 – Linking the Audit Plan to Enterprise Risk
* Aligning the audit plan with strategic and operational risk areas
* Best practices for integrating risk and assurance mapping
* Factoring value and value-add into the audit planning process
* Reconciling differing expectations between management and the audit committee
* Case discussion: Real-world examples of risk-based audit plans
Day 3 – Optimizing Resources and Planning Horizons
* Addressing the question “Do we have enough resources?” — creating productive dialogue
* Balancing core assurance with strategic risk audits
* Long-term planning horizons vs. annual plans vs. ad hoc audits
* Managing dynamic risk environments and audit flexibility
* Using the planning process to strengthen relationships with key stakeholders
Day 4 – Implementing a Risk-Based Internal Audit Framework
* Principles and process of risk-based internal auditing
* Understanding enterprise risk management (ERM) frameworks
* Assessing internal audit’s readiness for a risk-based approach
* Integrating risk registers, key risk indicators (KRIs), and assurance maps
* Developing a tailored risk-based audit strategy
Day 5 – From Planning to Execution and Continuous Improvement
* Building a roadmap for implementing risk-based internal auditing
* Monitoring, reporting, and communicating audit outcomes with impact
* Using risk-based auditing to enhance assurance and governance value
* Case study workshop: Designing and presenting a risk-based annual audit plan
* Personal action planning and key takeaways
Enquiries and Registration
Enquiry at : admin@keleaders.com
Whatsapp: 0044 790 125 9494
For more details visit our website : www.keleaders.com
