For our risk assessments, we combine subjective measures with past audit results and data from different systems. Then we tack on hours of interviews with management that only adds more subjectivity. When I push deeper and ask who designed this risk assessment process, very few auditors can answer. Usually, it’s someone who left the organization years before or an external consultant who recommended the approach. When it takes so much effort to complete the assessment that it takes away from the actual audits that we could be working on, is it time to admit that our risk assessment process is just too complicated?
After completing this course, you will be able to:
- Evaluate your risk assessment process for adherence to the standards
- Utilize lessons from real risk assessment examples
- Apply strategies to improve your risk assessment processes
CPE Hours: 1.0
Field of Study: Auditing
Prerequisites: Basic knowledge of internal audit report writing.
Who Should Attend: This session is designed for all internal auditors.
Advanced Preparation: None
Program Level: BasicDelivery Method: Self Study
Toby DeRoche is a Certified Internal Auditor (CIA) who holds an MBA with an Internal Audit specialization from Louisiana State University. He is also certified in Control Self-Assessment (CCSA), Risk Management Assurance (CRMA), Internal Control (CICA), Fraud Examination (CFE), and he is a SAFe 5 Agilist (SA).
His professional background includes identification and documentation of weaknesses that result in heightened business risk, while recommending solutions to such situations. Toby began his career in internal audit with Macy's Inc. He then worked as an implementation and training consultant for Wolters Kluwer. As a Solution Consulting Manager at Wolters Kluwer, Toby works with organizations that are looking for software solutions to their audit, risk and compliance needs. Throughout his career, Toby has assisted numerous internal audit departments create, perform, and supervise financial, operational, and compliance audits to evaluate control frameworks, financial systems and operating procedures.
Toby is also an experienced author and presenter, having delivered over 50 continuing education presentations to audit, risk, and fraud professionals.