Risk-Based Audit
If the fundamental purpose of management systems is to control risk of negative outcomes from processes, then it makes sense that audits should have risk as their primary focus. Many auditors struggle through their audits, using detailed checklists based on procedures, and feeling all the time that somehow there are important issues to explore, if only they could be identified!
Yet when risk is used as the basis of the audit to determine issues, both auditors and auditees find a renewed relevance in audits. Audit reports also become very meaningful to managers since they focus on the very issues that are important to them. Audits undertaken using risk as their basis, assist in addressing the due diligence requirements of management.
A risk approach to auditing is taught in all our courses in internal auditing. Contact us to find out more or for a discussion of your needs.
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