Get your internal audit risk assessment right this year!
Most companies understand the strategic benefits of an effective system for internal control. In 2013 alone, Thomson Reuters tracked over 26,000 regulatory changes, and with emerging risks on the horizon, many organizations are seeking new perspectives on how to put principles into practice in their complex operations.
As the COSO Internal Control – Integrated Framework (2013) states, “risk assessment involves a dynamic and iterative process for identifying and assessing risks to the achievement of objectives.” Yet many in-house internal audit functions look at the annual internal audit risk assessment process as a check-the-box activity, required mainly to be in compliance with the IIA Professional Practices Framework.
Available for download is a whitepaper which outlines considerations for a successful risk assessment procedure, ‘Risk Assessment: What Are You Missing?’
Read this whitepaper to learn about:
- Reviewing standard Internal Audit procedures
- Identifying Internal Audit Risk Assessment Red Flags
- Taking Five Steps to Turn Risk Assessment Principles into Positive Actions