The Risk and Control Self-Assessment Audit Training Course is an extensive training program that gives participants a thorough understanding of how organizations identify, evaluate, manage and monitor risk using a structured self-assessment methodology. The training provides knowledge of the principles, methodologies and tools of RCSA to enhance an organization’s internal controls, improve governance practices and promote effective risk-based auditing. The course focuses on how RCSA is related to Enterprise Risk Management (ERM), internal audit planning and compliance with regulations within different industries.
The course is offered by Imperial Corporate Training Institute and provides both theoretical and practical application of the material. Participants will be walked through the entire RCSA lifecycle: from identifying risk to mapping out control; from scoring & documentation to reporting; and from assessing what can be done to improve processes and continue fine-tuning the way organizations identify, assess, manage, monitor, and mitigate risk through RCSA processes. The course will teach participants how to use the results of their RCSA assessments to enhance the quality of their audits and the decisions of their management; how to align their audit activities with an organization’s risk appetite and strategic goals.
Objectives
Attendees will be able to:
- Establish an understanding of the definition, role, and importance of Risk and Control Self-Assessment (RCSA) in relation to current auditing and risk management practices
- Establish how RCSA relates to Internal Audit, Enterprise Risk Management, and Internal Control Frameworks
- Identify and Categorise the Main Operational, Financial, Compliance and Strategic Risk Types across an Organisation’s Processes
- Develop and Implement RCSA Frameworks aligned with the Organisation’s Goals and Risk Tolerance
- Assess Design and Operational Effectiveness of Controls using Structured Self-Assessment Methodology
- Utilise Qualitative and Quantitative methods of Risk Scoring to Assess Inherent and Residual Risk
- Document RCSA Outcomes in a Clear, Consistent and Audit-Ready Manner
- Evaluate RCSA Results to Identify Control Gaps, Weaknesses, and Areas for Improvement
- Integrate RCSA Results into Risk Based Audit Planning and Audit Execution
- Increase Accountability for Assuring and Owning Risk Across Business Functions
Targeted Audience
- Internal Auditors looking to improve their Risk Based Auditing Skills
- External Auditors interested in understanding RCSA as a Supplementary Assurance Tool
- Professionals Who Manage Risk (Enterprise or Operational Frameworks)
- Compliance Officers Monitoring Controls and Reporting to Regulators
- Finance Managers and Controllers Responsible for Financial/Operational Controls
- Internal Control Specialists and Governance Professionals
- Operational Managers Who Identify and Own Risk