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Effective Audit Planning and Engagement Risk Assessments

Training overview
16 hours
Next start date: Inquire for more information - Worldwide
On-site / Company-specific

Course description

Effective Audit Planning and Engagement Risk Assessments

Planning is the foundation for every efficient and effective audit. If audit teams take the time to build an effective audit risk assessment and plan the audit accordingly, the opportunity for a smooth and under budget audit increases exponentially. This one-day course will take attendees through the basics of audit-level risk assessments and appropriate steps throughout the planning phase of an audit.


  • Attendees will learn how to identify audit risk and appropriate audit planning tools and techniques.
  • Attendees will learn how to apply critical thinking skills to the planning and risk assessment phase to perform an effective audit.
  • Attendees will discover the best techniques for team management.

Who should attend?

Auditors with Less than Five Years of Audit Experience who are/will be responsible for the planning and project management of an audit (NASBA Field of Study: Auditing).

Training Content


  1. Overview – The End to End Audit Process
    1. The Importance of Effective Planning
    2. Positive vs. Negative Assurance
  2. The Engagement Risk Assessment Process
    1. Hypothesis of Risk – Preliminary Objectives
    2. Hypothesizing Preliminary Objectives and Root Causes
    3. Inherent Risk
    4. Residual Risk
  3. Audit Preliminary Survey – Gathering of Information
    1. Knowledge Gathering
    2. Authoritative Research
    3. Interview Management
    4. Inclusion of Peer Interviews
    5. Internal Controls
    6. Walkthroughs
    7. Ratio Analysis
    8. What Else Can we Provide?
    9. Updated Risk Hypothesis – Weighting of Preliminary Work
  4. Audit Interviews
    1. Interview Techniques
    2. Documenting an Interview
    3. Questionnaires
  5. Managing an Audit Engagement
    1. Managing a Budget and Schedule
    2. Delineation of Duties
    3. Coordinating Resources
    4. Keys to Effective Audit Project Management


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About supplier



GoldSRD is a leading provider of high-quality, interactive professional development. We have over 200 full-day courses on technical capabilities (Internal Audit, Accounting, Finance, IT Audit and Microsoft-Office specific courses) and People-Centric (“soft”) skills. Our Founder, Danny M. Goldberg, is a...

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