Implementation v1.0

Risk Based Internal Auditing - Three views on implementation Last updated 15 January 2006

Copyright D M Griffiths

The spreadsheets in the Excel workbook support

which can be downloaded from:

www.internalaudit.biz

For reasons of time, none of the spreadsheets sh

The spreadsheets are:

RAU basics

Appendix A Scoring risks

Appendix B Risk Register

Appendix C Assessing risk maturity

Appendix D Process map

Appendix E Audit Universe

Appendix F Risk and audit universe

Appendix G Column key

Appendix H Audit plan

Appendix I Process map - purchases

Appendix J Expense purchases database

Appendix K Conclusions

Figure 1Risk reduction diagram

Figure 2Risk significance

Figure 3Stages of RBIA

Figure 4Stage 2 Audit planning

Figure 5Frequency of work

Figure 6Stage 3 Individual audits

Figure 7Audit trailuditing -

mplementation

pport the book 'Risk Based Internal Auditing - Three views on implementation'

ets show all the data

Brief introduction to the process maps and risk registers

Advice on the scoring of risks

An example risk register in the order of the processes in appendix B. In this

risk map

Matrix giving the requirements for the five categories of risk maturity and

suggested audit tests

An example process map for a company manufacturing and retailing

List of all audits an organisation considers it requires to provide assurance on

risk management. It is not essential, but assists those organisations wishing to

ensure audits have particular characteristics, such as length of audit. It can

only be considered complete when all risks have been assigned to audits,

since some audits may be missing from the plan.

The complete list of scored risks and the audits that will check their

management.

Details of the columns in the RAU

The audit plan derived from the RAU

An example process map for the processes used to procure any item for the

organisation

The audit database used for the audit of expense purchases

Guidance for providing assurance on an individual audit

What is risk based internal auditing?

Grid showing the significance of risks

Stages involved in RBIA

Processes involved in stage 2

Frequency of consultancy and audit work

Process involved in the individual audit

Links in the audit trail involved in RBIA