Three-Day Masterclass – Strategic Risk-Based Auditing for Chief Audit Executives

Redefining Internal Audit to Enhance Performance, Governance & Assurance

Course Overview

Internal audit is evolving—from compliance monitor to strategic advisor. As Chief Audit Executives, your mandate is no longer just assurance, but enabling performance within risk appetite, navigating uncertainty, and aligning assurance with organizational strategy.

This intensive three-day masterclass is designed to strengthen the CAE’s role in driving risk-based audit planning, board engagement, and the integration of the 2024 Global Internal Audit Standards into your audit function.

Course Objectives

By the end of this course, participants will be able to:

• Align the internal audit plan to organizational strategy and top risks

• Apply the 2024 Global Internal Audit Standards in practice

• Drive assurance through a portfolio view of risk using COSO ERM 2017

• Design risk-centric audit programs that go beyond compliance

• Build synergies across Combined Assurance and Key Risk Indicators (KRIs)

• Strengthen the internal audit function’s credibility and value proposition

Core Frameworks & Guidelines Referenced

• Internal Audit Practices – 2024 Global Internal Audit Standards (GIAS), IIA Practice Guides
• Enterprise Risk Management -COSO ERM 2017, ISO 31000
• Control Assessment & Risk Ratings – COSO Internal Control–Integrated Framework
• Audit Planning & Reporting – IIA’s Model for Risk-Based Internal Audit
• Combined Assurance – South Africa Combined Assurance Model, King IVâ„¢
• Strategic Risk Alignment – Tim Leech’s Performance-Risk Integration

Day 1: Strategic Foundations of Risk-Based Auditing

08:30 – 09:00 | Welcome & Strategic Role of the CAE
09:00 – 10:30 | Introduction to the 2024 Global Internal Audit Standards
10:30 – 11:00 | Tea Break
11:00 – 13:00 | Understanding Risk-Based Auditing in Context (COSO/ISO)
13:00 – 14:00 | Executive Lunch
14:00 – 15:30 | Defining Audit Universe & Aligning with Strategic Risks
15:30 – 17:00 | Mapping Enterprise Objectives to Risk Appetite

Practical Application:
Risk-rating workshop using case scenarios; apply COSO ERM to prioritize audits.

Day 2: Designing the Risk-Based Audit Plan

08:30 – 10:00 | Risk Assessment Techniques: Top-Down vs. Bottom-Up
10:00 – 11:00 | Building Audit Plans Using Risk Heatmaps and KRIs
11:00 – 11:30 | Tea Break
11:30 – 13:00 | Integrated Assurance: Internal Audit, Risk & Compliance
13:00 – 14:00 | Executive Lunch
14:00 – 15:30 | Aligning Combined Assurance with Board Expectations
15:30 – 17:00 | Reporting to the Audit Committee with Impact

Mission-Critical Outcome:

Develop a practical risk-based internal audit plan and map it to enterprise risk registers.

Day 3: Maturity, Quality, and Strategic Influence

08:30 – 10:00 | Using the 2024 GIAS for Quality, Ethics & Maturity
10:00 – 11:00 | Agile Audit Approaches and AI-Enabled Techniques
11:00 – 11:30 | Tea Break
11:30 – 13:00 | Measuring Audit Impact, Value & Strategic Relevance
13:00 – 14:00 | Executive Lunch
14:00 – 15:30 | CAE Roundtable Simulation: Defending Your Audit Plan
15:30 – 17:00 | Wrap-Up, Key Takeaways & Certificate Ceremony

Design Action Plan:

Participants will walk away with a Risk-Based Audit Maturity Roadmap and a CAE Toolkit for implementing 2024 GIAS within their function.

Why Attend?

• Learn to apply the 2024 Global Internal Audit Standards effectively
• Enhance board engagement through risk-focused audit reporting
• Benchmark your audit plan against global best practices
• Transform internal audit into a trusted advisor in strategy and risk

Certification

Participants will receive a Certificate of Completion, aligned to CPD/CPE credits and recognized by internal audit institutes and governance bodies.