Risk Based - Annual Internal Audit Plan (Practical Illustration)

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Risk Based - Internal Audit Planning Process
Risk-based internal auditing is defined by the Institute of Internal Auditors (IIA) as a method that connects internal auditing to a company's overall risk management framework. A risk-based internal audit (RBIA) examines a company's reaction to the risks it faces in achieving its goals and objectives.
I attempted to explain risk-based auditing in five simple steps, touching on concepts such as audit universe, risk maturity, risk likelihood and expectation, inherent risk, control risk, residual risk, and organizational goals and objectives.
The old compliance method of auditing has been replaced with a more sophisticated risk-based and risk-driven planning and auditing perspective.
RBIA enables auditors to focus their resources based on strategic objectives, assessment criteria, and risk probability, thereby increasing audit efficiency and effectiveness.
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[@basantarai6865]

The best explanation I got ever since I started looking for it.

[@JohryRana]

It is one of the best concise and targeted video toward RBIAP. Tens of thumps up for this👍👍👍👍👍👍👍👍👍👍

[@nadeemamirali7482]

Excellent, Arif Bhai. Please keep up the good work.

[@ankitagrawal7133]

greatly done sir, much apricate

[@happykeetu]

Awesome explanation..thank you so much for this wonderful contribution 😊

[@fatousanyang6966]

Great experience and we'll explained thank you

[@aaroacademy]

Thank you, so much for your content.

[@kpahmed9847]

Very effective. Thank you

[@gurkiratsingh490]

Good and simple explanation

[@1969yasser]

Your explanation is very helpful Arif, thanks a lot.

[@arturomadridm3]

I really appreciate this explanation. Very useful

[@imtiazahmed2765]

Much appreciated😍😍

[@MuhammadIrfan-ov5ro]

Good and simple explanation. Good work 👏,

[@MeckyKatunga]

Much appreciated.

[@humility9345]

What a great leader in the field! Thank you very much Arif for this very insightful video. Concise and easy to understand, for a complex subject to some of us.

[@Stuployer]

Thank you Baker.

[@quranicvoice2164]

Thanks u brother u don't even know that how much confusing this is ... U have done amazing work keep it up highly recommended Thanks 😊

[@Stuployer]

Glad that it helps you.

[@tarigfazaa]

❤

[@theoniroach2518]

You make great content, perhaps think about using descriptions and hashtags to optimize people finding your videos. I am a serial KZbin watcher, would love to see more of your content. Keep up the good work.

[@Stuployer]

Thanks for the tip!

[@tadeosmelaku8998]

How do u collect audit universe..?

[@izzattaz6290]

Check in other video. He has explained it.

[@tadeosmelaku8998]

If u r new to the organization, how do u collect Audit universe, do you contact each department head?

[@Stuployer]

The simple way is to breakdown your audit universe as per organisation departments and key major processes within these departments. This is how you can make a typical audit universe.

[@germainkone9029]

Hi boss. Do you have any tips or templates for audit reports? Thank you in advance.

[@Stuployer]

Available online, just Google it.

[@hkentertainment7163]

Kindly share the PDF file if u have

[@Stuployer]

Share email, I will send you.

[@franciscomkinga4135]

@@Stuployer Please share with me also the PDF.