Tuesday, September 26, 2017

Focus & Features

The International Professional Practice Framework, (IPPF) provides that internal audit must evaluate and contribute to the improvement of the risk management process.

But in the absence of established risk management in the organization, Internal Audit can take a broader role of initiating a risk management process to establish a risk-based audit plan. 

Such work goes beyond the traditional assurance activities and thus a challenge for internal audit to effectively carry out the work within the bounds of the IPPF.

This program will lead you to a practical risk management and risk-based audit planning journey through interactive and participative sessions designed to give you a tool that can be readily applied in your work.

In particular the program will help you:

  1. Define Internal Audit’s role in a non-ERM based organization within the bounds of IPPF.
  2. Establish a risk-based audit plan and program in the absence of established risk management process.

Develop a framework to effectively partner with management to improve the risk management processes.


What You Will Learn



  • ISPPIA Performance Standard 2120 – Risk Management
  • IIA POSITION PAPER – The role of Internal auditing in Enterprise-wide Risk Management (ERM)
  • IIA POSITION PAPER – The Three Lines of Defense in Effective Risk Management and Control


(Previous & Current Practice Advisories)

  • Internal Auditing’s Role in the Risk Management Process
  • Internal Audit’s Role in Organizations Without a Risk Management Process
  • Linking the Audit Plan to Risks and Exposures (Interpretations)
  • Using the Risk Management Process in Internal Audit Planning (Interpretations)
  • Internal Audit Coverage of Risks to Achieving Strategic Objectives


  • Audit Charter
  • “Proactive Role” in Risk Management Process
  • Impalement of Independence


  • Understanding the COSO Framework
  • Clarify Business Objectives (with the Management)
  • Vision and Mission (Core Values)
  • Strategic Objectives
  • Operational Objectives
  • Workshop – Clarifying Business Objectives
  • Clarifying Measures of Objectives
  • Lag measures
  • Lead measures
  • Workshop: Clarifying Objectives and  Determining Measures
  • Conducting Enterprise Risk Assessment (ERA
  • Risk – Process Mapping – Using Risk Management Process in Internal Audit Planning
  • Risk-based Audit Planning – Linking Audit Plan to Business Risks and Exposures

RISK-BASED INTERNAL AUDITINGAuditing to Build Partnership

  • Risk and Control Analysis  – Consideration of Control
  • Audit Verification – Acquiring Quantitative Basis of Assessed Level of Risks
  • Risk-Based Audit Report – Writing Audit Reports that Impact Your Audience
  • Tracking and Monitoring – Encouraging Sustained Risk Management Effort


PRE-WORK:  This is intended to be relayed (e-mailed) to all confirmed participants 2 – 3 days before the scheduled date of seminar.  Participants are encouraged to do the pre-work to facilitate participative-interactive activities:

  1. Know your company’s:
    1. Vision and Mission
    2. Core Values
    3. Strategic Plan
    4. Operational / Tactical Plan
  2. Review of your company’s history of “negative events”. You may interview functional managers of their knowledge about events that negatively impacted the company.
  3. Research on current events or breakthroughs in the industry to which your company belongs.
  4. Review your previous audits and list down significant issues raised and their status.
  5. Read about risk-based internal auditing and risk management.
  6. Participants are enjoined to bring their laptop.

Who Should Attend

This professional seminar is ideal for junior internal auditors who want to gain competencies in risk-based auditing concepts and their practical application to internal audit work.  This seminar is also valuable to audit supervisors, managers, chief audit executives and consultants who want to initiate risk-based auditing in their organization or desire to improve their current internal audit processes.

Facilitator: Ms. Joseph Arlan C. Fajardo, CPA, CIA, CISA

                     Internal Audit Practitioner

Schedule: 13 – 14 October 2017
 8:30am – 5: 00 pm

Venue:  St. Giles Hotel, Makati Ave., Makati City


Seminar Investment: 

Member’s Rate: Php9,000

Non-Member’s Rate: Php12,000

No. of CPE Credits : 18*

* IIA Certifications

*BOA Accredited CPD Provider


Seminar Inclusions:

  • Seminar Kit
  • Certificate of Participation
  • AM & PM Snack, Buffet Lunch


How to Enroll:

  •  email at training@iia-p.org or fax to 325.0414
  • call us at 238-8888 loc 8962 and look for Sheena Malapitan or  Thei Mendoza
  • Click here to register online