audit risk assessment model thai

Download Audit Risk Assessment Model Thai

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Excel Model for Internal Audit Risk Assessment and Audit Planning

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  • 1. Risk-Based Audit Audit Risk Assessment Model Risk-based Audit Plan () (CAT) 26 2554 8:30-16:30. Risk-Based Audit 1
  • 2. CIA CISA CBA CCSA CFSA CISSP CFE. (2528) (2533) IIAs EIAP 7 (2546) 4 21 Risk-Based Audit 2
  • 3. Risk-Based Audit07/30/12 3 3
  • 4. Audit Risk Model 3 : (IR-Inherent Risk) (CR-Control Risk) (DR-Detection Risk) Risk-Based Audit 4
  • 5. Risk-Based Planning - Steps universe Score IR, CR, DR IR, CR, DR score Risk-Based Audit 5
  • 6. Risk Factors (IR-Inherent Risk) A (Value of Annual Expenditure or Total Cost of Ownership) B (Number of Employees Involved) C ( Impact on the organization) D (Volume of Transactions) Risk-Based Audit 6
  • 7. Risk Factors (CR-Control Risk) F (Impact of Mgt and staff) G (Third Party Sensitivity) H (Standard of Internal Control) J (Likelihood of occurrence) Risk-Based Audit 7
  • 8. Risk Factors (DR-Detection Risk) K (Likely effectiveness of audit) L (Duration of the audit) M (Length of time since the last review) N (Effectiveness of other assurance providers) Risk-Based Audit 8
  • 9. Aggregate Risk ScoreFORMULA USED FOR CALCULATION OF RISK FACTOR INHERENT CONTROL DETECTION (2A + B + 3C + D) X (2F + G + 3H + 3J) X (K + 2L + 2M+ 2N) 35 45 35 THE RESULT IS MULTIPLIED BY 200 Risk-Based Audit 9
  • 10. Audit Interval SCORE >80 E - Top Priority 60 - 79 H - Critical topic for review 40 - 59 M - Important to tackle 20 - 39 L - Lower priority but still valid audit topic 97% ) Risk-Based Audit 28
  • 29. DR - Detection Risk K - a) b) c) d) e) f) g) Risk-Based Audit 29
  • 30. DR - Detection Risk K - 1. 2. 3. 4. 5. Risk-Based Audit 30
  • 31. DR - Detection Risk L - () 1. 70 2. 41 - 70 3. 21 - 40 4. 10 - 20 5. 10 Risk-Based Audit 31
  • 32. DR - Detection Risk M - () 1. 12 2. 12 - 18 3. 18 - 24 4. 24 - 36 5. 36 Risk-Based Audit 32
  • 33. DR - Detection Risk N - , , , 1. 2. 3. 4. 5. Risk-Based Audit 33
  • 34. Q&A PAIRAT SRIVILAIRIT FSVP Head of Internal AuditTISCO Financial Group Public Company Limited Mobile : +668 1903 1457 Office : +66 2633 7821 Email : pairat@tisco.co.th Microsoft Excel Worksheet Risk-Based Audit 34