• Understanding the concept of risk-based auditing and its importance in the context of management and review.
• Introducing students to the basic concepts of risk and how to analyze and assess them.
• Explaining how to apply the risk-based audit methodology in both internal and external auditing processes.
• Developing students' skills in identifying potential risks and assessing their impact on organizational performance.
• Enhancing students' understanding of reporting and recommendations related to risks discovered during the audit.
• Providing the necessary tools and techniques for effectively applying risk-based auditing.
• Encouraging innovation and critical thinking to improve and strengthen audit processes.

Day 1:
Introduction to the Risk-Based Audit Framework

• What is Risk-Based Auditing (RBAF)?
• The need for risk-based auditing
• Responsibility for risk-based auditing
• Implementation plans in risk-based auditing
• Factors influencing the development of a risk-based auditing system

Day 2:
Components of the Risk-Based Audit Framework

• Responsibilities and duties within the risk-based audit framework
• Objectives of risk-based auditing
• Contents of the risk-based audit program
• Reporting strategies in the context of risk-based auditing

Day 3:
Steps in the Risk-Based Audit Process

• Identifying and defining risks in the work environment
• Analyzing risks associated with the work environment
• Risk management strategies
• The role of internal auditors and risk-based auditing

Day 4:
Processes Followed in Risk-Based Auditing

• Defining objectives for risk analysis
• Identifying risks
• Analyzing risks and their impact on auditing
• Response strategies for dealing with risks
• Preparing a summarized list of risks
• Reporting risks

Day 5:
Tools and Techniques Used in Risk-Based Auditing

• List for identifying and defining hazards
• Checklists and surveys
• Risk analysis checklists
• Balanced risk assessment checklist
• Risk matrix