Business Risk Assessments Course

COURSE DESCRIPTION
Change equals risk. With change comes an increase in risk. The increased risk can be temporary while we work through the change, or it can be permanent. It is our job to determine which. We are in unprecedented times and experiencing a time of significant change for all organizations. The work that we have done, the risk assessments, the forecasts, the audits, all need to be revisited and spot checked to take into consideration what has changed and how it has impacted our assessment of risk and exposures for our organization. This course will examine how auditors and fraud examiners should revisit risk assessments, recent audits and identify, evaluate and prioritize emerging risks

LEARNING OBJECTIVES
• What a risk assessment revisit is
• Where to start with a risk assessment revisit
• Why you should evaluate everything first from a top down approach
• Quick spot check methods to achieve quick, yet measurable results
• How and why now is the time auditors can add real value to their organizations

COURSE OUTLINE
Causes of Changes in Business
• Business changes
• Lost revenue
• Pandemic timeline and impact of timeline

Identifying, Understanding, Evaluating and Prioritizing New Risks
• Focus on the organization’s business objectives
• Changes, adaptation, work-arounds temporary and permanent
• Revenue, people, future and adaptation

Revisiting Risk Assessments
• Why risk assessment revisits need to occur
• How to revisit and what to focus on
• Identifying, understanding and evaluating change to existing risks
• Re-evaluating significance and likelihood

Spot Checking Recent Work
• Determining what to check
• How to “spot” check without a full audit
• Staying targeted and focused

Risk Management Assessment
• Reassessing existing risk management process and policies
• Reassessing risk management teams, skills and focus
• Assessing service providers, third-party, and travel

Specific Risks
• Telecommuting
• People and Human Resources
• Process – changes, modifications, workarounds
• Supply Chain
• Information Technology and Cybersecurity

Fraud Risk
• Identifying new fraud risks
• Personal and organizational risks
• Protecting and educating employees on fraud risks

Leveraging Data Analytics
• Ad hoc assessments and analysis
• Continuous auditing and monitoring
• Fraud detection and deterrence

FOR WHOM:
Internal auditor staff and management, internal control professionals, Accountants, Operations staff.

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 20th – 23rd May, 2025
2ND BATCH: 2nd – 5th Dec, 2025