Course ID
Key schedule and booking details
Length 5 Days
Location online Fees £ 1850 Date 2026-04-20
OVERVIEW
Modern organisations operate in environments filled with uncertainty, regulatory pressure, and increasing expectations for accountability. Traditional auditing is no longer sufficient on its own — organisations now require a risk-focused approach that ensures controls, processes, and decisions directly support strategic objectives.
The Fundamentals of Risk-Based Internal Auditing course provides a structured introduction to riskbased auditing practices used worldwide. Over five comprehensive days, participants will explore key concepts such as risk, internal controls, risk management frameworks, audit planning, control evaluation, and communicating audit outcomes with clarity and impact.
This programme blends global best practices with practical tools, exercises, and case-based discussion to help auditors shift from compliance-driven reviews to value-adding, risk-informed assurance activities.
By the end of the course, you will be able to:
• Apply major risk management frameworks such as COSO and ISO 31000
Understand risk-based auditing principles aligned with international standards
• Conduct risk assessments using likelihood, impact, appetite, and tolerance criteria
• Develop effective risk-based audit plans and engagement approaches
• Evaluate the design and effectiveness of preventive, detective, and corrective controls
• Communicate audit findings clearly and constructively to stakeholders
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• Overcome practical challenges linked to reporting, change implementation, and audit acceptance
This programme equips participants with the mindset and skills required to support organisational resilience through effective, risk-driven internal auditing.
OBJECTIVES
0 IDEAL PARTICIPANTS
This course is suitable for professionals engaged in auditing, risk, governance, and internal control functions, including: Internal auditors (new and developing)
• Risk management professionals
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• Compliance and quality assurance staff
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• Audit team leaders and supervisors
Finance and operations personnel supporting audit activities
• Anyone looking to understand risk-based assurance and internal audit methodologies
OUTLINE
DAY 1
Build a solid foundation in internal audit and its connection to risk and organisational objectives. Define internal auditing and understand its purpose
• Explore the relationship between risk, objectives, and uncertainty
• Understand the key principles of risk management
• Review the International Standards for the Professional Practice of Internal Auditing
• Learn the value and benefits of applying a risk-based internal audit approach
• Clarify common misconceptions about risk and its management
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• Compare internal and external risks and explore major risk categories
DAY 2
Learn how leading frameworks support structured, risk-based audit thinking. Understand the purpose and importance of risk management frameworks
• Explore key risk and control frameworks:
• COSO Internal Control Framework
• COSO Enterprise Risk Management (ERM) Framework
• ISO 31000
• Recognise the importance of assessment criteria in risk-based auditing
• Define risk appetite and its influence on audit focus
• Understand risk tolerance and how it aligns with appetite and assessments
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• Explore likelihood and impact concepts for assessing risk severity
DAY 3
Develop the skills to design structured and risk-focused audit engagements. Understand the objectives and purpose of risk-based audit engagements
• Review the steps involved in the risk-based audit approach
• Explore risk maturity and its role in audit planning
• Learn tools and techniques for identifying risks
• Apply methods for assessing and prioritising risks
• Exercise: Develop a risk-based audit plan using the provided risk data
DAY 4
Build expertise in analysing and assessing internal controls. Understand how controls are used to manage key risks
• Define controls and differentiate between:
• Preventive controls
• Detective controls
• Corrective controls
• Learn to evaluate control design and operating effectiveness
• Explore tools and techniques for control assessment in audits
• Exercise: Analyse control examples and evaluate their effectiveness in mitigating risks
DAY 5
Strengthen reporting skills and overcome common audit implementation challenges. Understand the purpose and importance of reporting audit results
• Identify common reasons audit reports fail and how to avoid them
• Learn techniques for delivering clear, constructive audit observations
• Explore roadblocks that hinder the effective implementation of audit recommendations
• Identify personal and organisational challenges linked to change adoption
• Discuss practical solutions to support successful implementation
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• Key takeaways and course evaluation
Will I receive course materials?
Yes, high-quality documentation is provided to all delegates.
Do you issue certificates?
An accredited Certificate of Completion is awarded upon successful completion.
What are the course timings?
09:00–12:45 or 13:00–17:00.
How do I register and pay?
Complete the registration form on the course page and select your preferred payment method.
What is your cancellation policy?
14 days from booking for a full refund or free transfer; exceptions apply on medical grounds.
Do you offer airport transfers?
Yes, airport pick-up and drop-off to/from the hotel can be arranged.
CONSULTING SERVICES
Tailored solutions for sustainable growth
At Regent Training Centre, we deliver consultancy services designed to help organisations overcome challenges and achieve sustainable growth through practical and results-driven strategies.
