Risk-Based Financial Auditing and Internal Control Training

Program Date

5 Aug 9 Aug 2024

Program Location

Chișinău, Moldova

Program Venue

Summit Events & Conference Center

Registration & Payment Deadline

20 Jun 2024

Program Overview

Over the last few years, the growing need for managing risks has been recognized by numerous organizations and adopted as a crucial part of effective governance. Risk-Based Financial Auditing proves to be a pre-eminent risk response tool for any entity, as it is aligned with business goals and objectives and dominates any other type of internal audit. The RBIA is an approach that enables the internal audit review to become more efficient and focused on business needs.

Risk-Based Financial Auditing and Internal Control Training in Chișinău, Moldova as a short-term training program will review every major aspect of Risk-Based Internal Auditing & Internal Control and provide delegates with an in-depth and quality understanding of the field.

Target Audience

Risk-Based Financial Auditing and Internal Control Training in Chișinău, Moldova is the best suit for:

  • External & Internal auditors
  • Financial Managers, Officers & Executives
  • Supervisors and Managers who wish to refresh or gain the understanding of RBIA
  • Accountants who wish to understand the scope of Risk Based Internal audit and its role
  • Consultants.

Program Objectives

Upon successful completion of this training program the attendees will gain the thorough understanding of:

  • Scope & Function of Risk Based Internal Audit & Internal Control
  • Effective Ways to Develop RBIA Plan
  • Functional Techniques for Risk Identification & Control Testing
  • Suitable Sampling Techniques for Risk Based Internal Audit Assignment
  • Appropriate Internal Audit Test Tools.

Program Contents

  • Definition & Types of Risks in an organization
  • Scope of Corporate Governance & Internal Auditing
  • Overview of different auditing types & approaches
  • The difference between risk-based and traditional auditing
  • Five steps to accomplish an effective Enterprise Risk Management (ERM) framework
  • The benefits of Risk Based Internal Auditing
  • Three stages for implementing risk-based internal audit
  • Conducting Audit Engagement
  • Introduction to potential risks in the financial statement
  • Preliminary engagement activities
  • The formula for audit risk model
  • Definition of internal controls
  • Clarifying Responsibilities
  • Spreading over control culture and awareness
  • Information required to formulate internal control process
  • Preventive and detective controls
  • Activities included in internal control
  • The steps of control activities
  • Electronic information systems control
  • The importance of duties segregation
  • Monitoring the bank’s internal control activities
  • Evaluation of internal control systems
  • Correcting deficiencies
  • Risk recognition and assessment
  • Risk assessment goals
  • Materiality
  • Complexity of Process
  • Business environment
  • Exposure to loss
  • Regulatory environment
  • Establishing annual plan
  • Defining audit universe
  • Lending operations
  • Treasury management
  • Accounting and financial reporting
  • Deposit operations
  • Branch operations
  • Bank administration & Reporting
  • Reporting to the audit committee
  • Reporting to senior management and the board.

Program Methodology

The presenter will apply modern training and adult learning techniques in order to maximize the level of comprehension for the attendees. The methods deployed will involve: presentation, open discussion, group and individual assignments, task visualization, numerical examples, case studies and a field visit. The approach taken will be more practical in order to ensure the instant appliance of the knowledge gained through the sessions at the workplace.

Program Fee

Payment Options

Fee Covers

  • Visa Assistance (complementary)

  • Participant Assessment

  • Airport Pickup

  • Accommodation

  • Wi-Fi

  • Welcome Dinner

  • Breakfast

  • Workshop Kit

  • Program Materials

  • Program Experts

  • Practical Activities

  • Lunch

  • Refreshments

  • Interactive workshop

  • City Map & Direction

  • Risalat T-shirt

  • Field Visit

  • Program Certificate

  • Entertaining Tour

  • Program Report