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Event Details

 

IIA AUS Auditing Risk Appetite Framework – Online Classroom

Date 
12 August 2024 - 13 August 2024
Time
10:00 am - 1:30 pm
Online
Delivery Method
Zoom
Facilitator
IIA-Australia

Auditing Risk Appetite Framework
- Online Classroom

This training course is designed to provide participants with an in-depth knowledge and guidance in auditing processes related to risk appetite frameworks within organisations. Participants will explore the principles, methodologies, and best practices for evaluating, assessing, and enhancing risk appetite frameworks to ensure alignment with organisational objectives and risk management strategies.

At the end of the training course, the participants will gain knowledge in the following areas:
  • Understand the core components of risk appetite frameworks
  • Develop skills to assess and audit risk appetite statements and tolerance levels
  • Apply auditing techniques to evaluate and enhance risk appetite frameworks
  • Communicate audit findings effectively and propose improvements.

Topics covered include:

  1. Understand Risk Appetite Framework, its components and Its significance:
  • Understand the organisational context and the strategic alignment of the Risk Appetite Framework.
  • Assess how Risk Appetite Framework assist in organisational decision-making.
  • Evaluate how Risk Appetite Framework is used to balance risk and reward.
  • Assess how Risk Appetite Framework influences the organisational culture regarding risk.
  1. Design a Risk Appetite Framework auditing methodology and tools:
  • Assess Risk Appetite Framework components.
  • Understand the relationships between established risk tolerance thresholds and different types of risks (eg. financial, operational, compliance).
  • Review the risk capacity of an organisation.
  1. Conduct risk assessments:
  • Assess the methodologies used for identifying and assessing risks.
  • Review if they cover a wide spectrum of potential risks that the organisation might face.
  • Evaluate the techniques used for mapping and prioritising risks that aligns with the risk appetite thresholds.
  1. Evaluating Risk Appetite Implementation:
  • Evaluate the implementation of risk management policies and procedures that align with the defined risk appetite.
  • Assess if the risk appetite framework complies with regulatory standards and industry best practices.
  1. Review the methodologies used for quantifying risks:
  • Assess the accuracy and reliability of quantitative measures used to assess risk exposure.
  • Evaluate the effectiveness of Key Risk Indicators (KRIs) in monitoring and measuring risk exposure in alignment with the risk appetite.
  1. Audit technology usage:
  • Assess the use of technology-based tools for risk management and auditing purposes. Check if they streamline the auditing process and enhance accuracy
  • Evaluate the use of data analytics tools to analyse historical data and identify patterns influencing risk appetite.
  1. Audit reporting and recommendations:
  • Develop audit findings into a comprehensive report highlighting areas of compliance, strengths, weaknesses, and recommendations for improvement.
  • Provide actionable recommendations based on audit observations and industry best practices to enhance the risk appetite framework.
Who should attend:
Internal auditors, risk managers, compliance officers, and professionals involved in ensuring the effectiveness of assurance controls within organisations.

CPE Points: 7
Knowledge Level: Intermediate
Delivery Format: Facilitator-led training via Zoom (Note: This training program will be delivered in two 3 and a half-hour lessons, over two days using Zoom. Registrations will be strictly limited to 12 participants to allow maximum interaction in the online environment.)

IIA-Australia Online Classrooms listed on the IIA NZ website are open to all IIA NZ members and non-members. The registration for these Classrooms is through the IIA-Australia website.

Register Here

To convert the event date and time to your local time, select the iCal calendar at the top right of the event listing.

Note: When registering through an international website, please be aware that you will be charged in their currency.

IIA NZ Members: $590.91 AUD
Duration & CPE: 2 x 3.5 Hours, 7.00 Hours

Registration Note:
The 'funds transfer registration form' can be used to register for this course. Please click the registration link above, download the form from the IIA-Australia event listing, and email it to training@iia.org.au

If you require assistance with registering, please contact training@iia.org.au

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