Audit Planning: A Risk-Based Approach
Risk-based audit planning focuses on the strategic, regulatory, financial, and business risks to which an organization has exposure. In an increasingly visible and valuable role, today's internal auditors are expected to examine, evaluate, report, and recommend improvements on management's risk management processes. Risk-based auditing can maximize the impact of audit's assurance and consulting work.The second book in the new Practical Auditor Series—cobranded with The Institute of Internal Auditors (IIA)— Audit Planning: A Risk-Based Approach helps internal auditors plan a dynamic, proactive audit. With step-by-step guidance, it covers:New approaches to setting the audit context and plansA step-by-step plan for addressing corporate risk in the audit planPractical ways to implement some of the IIA's professional standardsSample models that break down and explain complicated conceptsControls and reviews that ensure that work meets quality standardsCase studies of various auditsDiagrams and checklists to help build real-world auditing skillsThere is no "one size fits all" audit. The goal is to customize a dynamic, defensible audit plan that addresses the needs and the risks of the particular organization. This book provides the practical guidance and  tools to get auditors up to speed quickly with a real-world, risk-based approach to auditing.