One of the primary objectives of every auditor is to assess organizational risks and evaluate the effectiveness of the controls established by management to mitigate those risks. The Institute of Internal Auditors has set forth the standards for auditors to use in accomplishing that objective Every organization is set up to accomplish its primary business objective. Whether it is a “for-profit” organization or a “not-for-profit” organization, there is always a primary business objective. And whenever there is an objective, there is always the risk that the objective will not be achieved. Management has the responsibility to assess risks and establish controls to ensure that business objectives are achieved. Internal Audit has the responsibility to evaluate those controls to determine if they are adequate and effective. For the auditor, the process starts with the development of a risk-based annual audit plan to identify the various risk areas. The risk areas are prioritized and subject to audit based on the high-level risk assessment. Each area is further subject to a more detailed review of its particular risks and controls. There are certain Institute of Internal Auditors (IIA) standards that are required in the evaluation and communication of the risk and control assessment. There are also other resources available to auditors to assist them in their evaluation of risks and controls.
This class is designed to give you the basics for assessing risks and evaluating controls. We will discuss the responsibilities of management and internal audit as it relates to risks and controls. We will do a case study to follow the process from beginning to end. We will also do some exercises to further strengthen your knowledge.
This class is designed to give you the basics for assessing risks and evaluating controls. We will discuss the responsibilities of management and internal audit as it relates to risks and controls. We will do a case study to follow the process from beginning to end. We will also do some exercises to further strengthen your knowledge.
Jonnie Keith
Jonnie Keith has been in auditing for over 50 years. He retired in 2012 as the Assistant General Manager (AGM) of Internal Audit with the Metropolitan Atlanta Rapid Transit Authority (MARTA) in Atlanta, Ga. He served in that capacity for over 10 years and was responsible for administering the overall audit activities. In this position, he was also responsible for the review and approval of all internal audit correspondence including audit reports, executive summaries, internal and external correspondence, etc.Prior to that, he worked at MARTA as the Operational Audit Manager and Senior Contract Compliance Auditor. He also worked at Norfolk …
Interactive dashboards & analytics in Excel
Language is Code - Intro to AI - Generative AI - ChatGPT an…
Medical Device Hazard analysis following ISO 14971
Data Integrity and Privacy: Compliance with 21 CFR Part 11,…
FDA Audit Best Practices - Do's and Don'ts
Performance of Root Cause Analysis, CAPA, and Effectiveness…
Unauthorized Transactions – Reg E vs Nacha Operating Rules
Secrets Of Psychology - Why People Do The Things They Do
New Form I-9: Documents and Policies that Ensure ICE I-9 Co…
2-Hour Virtual Seminar on How to Conduct an Internal Harass…
Claude AI For CPAs & Finance Professionals: Best Practices …
Managing Complex Projects - Project Management
Project Management For Administrative Professionals
Elevate Your Workplace Wellness: 10 Critical Wellness Facto…
Onboarding is NOT Orientation - How to Improve the New Empl…
Negotiating Skills For Professional Results - Winning Strat…
Utilizing HR Metrics to Illustrate & Improve Human Resource…
NEW Nacha Rule - Third-Party Sender (TPS) Roles and Respons…
FDA Technology Modernization Action Plan (TMAP) and Impact …
Paying and Receiving Payments for Referrals: You Can Go to …
Validation Statistics for Non-Statisticians
Construction Lending And Real Credit Administration: Evalua…
Human Factors Usability Studies Following ISO 62366 and FDA…
Thriving in a Hybrid Workplace: Keys to Leadership and Team…
Excel Power Skills: Master Functions, Formulas, and Macros …