About this learning event

Due to specific activities and operations of central banks, internal audit activity in central banks needs to be addressed according to its specific environment and its role in providing assurance and consulting/advisory activities.

Risk-based planning is part of requirements laid down in internationally accepted internal auditing standards. It is developed for different activities or parts of the organization, taking into account the organization’s risk management framework. Drawing on specific context and working area of central banks, this workshop will address topics that are part of risk based auditing. The aim of the workshop is to develop proficiency which can be used to strengthen risk based auditing. Participants will get familiar with all risk based auditing elements specific to central banks.

There is still strong believe that each audit object of the Audit Universe shall be audited regularly, let's say every three or five years. Such approach is opposite to risk based auditing, where the goal is to cover complete Audit Universe in particular period of time, e.g. in three or five years. Inside this period of time particular audit object is audited as often as its risk assessment requires.

What participants learned

The workshop addressed the following topics: 

• Audit Universe
• Risk Assessment Methodology
• Work Program
• Risk Based vs. Risk Centric

What were the benefits

The learning event was facilitated by experts from the Bank of Slovenia. This learning event was aimed at:

• Gaining practical knowledge on how to set up an Audit Universe and Risk Assessment Methodology and perform annual planning procedure
• Acquiring many useful workshop outputs like sample Audit Universe, sample risk methodology etc.

The workshop stimulated knowledge sharing by employing a participative approach to learning.

Who was it for

This learning event was designed for:

• Internal auditors and staff who needs to understand internal audit activities like:
• Chief Risk Officers
• Compliance Officers
• Information Security Officers
• Safety & Security Officers

Partners

This learning initiative was supported by: