Advance Risk Based Internal Audit & Internal Controls Masterclass

10th & 11th February 2020

In light of this rapidly evolving environment, organizations will consider the risk based internal audit and internal control critical then ever before.

 Appanage has designed a two days master class to provide participants with hand-on knowledge regarding Risk factors, related effects and other disclosures pertaining to COVID-19.


The Risk Based audit planning workshop will enhance the value and credibility of Internal Audit professionals by applying risk concepts and practical approach to establish a true risk based internal audit plan, covering the risk theories and internal controls framework.

It will also educate the management on the benefits of risk management and how they can align their work with the risk appetite of the Board.

This course provides participants with the knowledge to develop an audit universe and risk-based internal audit plan and internal controls frameworks.

This course also addresses emerging and advanced risk management topics such governance risk, strategic risk, fraud risk, information technology risk, and auditing the risk management process.


Our trainer, MR. ATHAR has over +13 years of diversified experience in Internal Audit, risk management, governance and fraud management. He has worked in various sectors with the large multinational organizations in the UAE, Qatar, South Africa, and Pakistan to develop and implement Internal Audits department, ERM & Anti-Fraud frameworks.

He is involved in the training/mentoring of employees of different levels in multinational companies. He has conducted several training sessions and spoken on various ongoing issues of Internal Audit and Fraud Risk Management within/outside the UAE. He has also represented at CEO, Board of Directors, Audit Committee, and various Management Committees meetings.


  • Summarize risk management principles and concepts.
  • Identify corporate governance principles.
  • Explain the relationship between governance principles and COSO frameworks.
  • Explain the relationship between governance, risk, and control.
  • Gain an awareness of tools and techniques for planning and performing value-added, risk-based audits
  • Apply risk management maturity and comprehensive assessment approaches.
  • Develop an auditable universe risk assessment.
  • Apply risk identification, measurement, and prioritization techniques.
  • Learn about bringing value addition through internal audit functions
  • Learn to deliver effective stakeholder assurance
  • Recognizefraudandexpressinternalauditor’sresponsibilityuponfrauddetection

Registration Form

    Enter the No. of Participants

    Contact Number with Area code

    Official Email

    Register before 30th December, 2020For 1 participant $ 350For 3 participants $ 700

    For Further Details contact:

    Day 1

    Topic – 1

    Introduction to Audit, Risk Concept
    • Definition Internal Audit & Modern Approach
    • Changing role of Internal Audit (IA)
    • Business Risk Management current Trends
    • Pulse, EY, KPMG & PWC surveys results
    • New strategies and best practices in internal audit
    • 3 Lines of Defense
    • How Internal Audit Add values to the organization
    • Exercise – The challenges facing Internal Audit

    Topic -2

    Adoption of Risk-based internal audit standards
    • Overview of International Professional Practices Framework IPPF
    • Ensuring effective communication lines between IA &
    • the Board – communication channels
    • Code of Ethics for Internal Auditors
    • Corporate Governance Risk overview, definition, and
    • standards
    • Relationship between governance, risk, and control
    • Governance principles and COSO frameworks
    • Exercise: Examples of Internal Auditing Standards &
    • Governance Risk

    Topic – 3

    Creating High-Performance Risk Based Internal Audit
    • Strategic & Operational Role of Intern Audit Function
    • Ensure that IA is seen as an agent for positive change
    • Understand and exceed stakeholder expectations
    • Role of internal audit to report on effectiveness
    • Risk Management Frameworks
    • Developing proactive Audit Committee and Board
    • relationship
    • Modernized internal audit function with best practices
    • Audit reputational risk

    Topic -4

    Internal Audit role in Risk Management Process
    • What is risk & risk dimensions Likelihood and
    • occurrence
    • What is Risk Management process?
    • Relevant business Risk Identification
    • Risk Assessment and categorization
    • Risk Response & Mitigation
    • Risk Monitoring & Review
    • Role of Internal Audit has in Risk Management
    • Frameworks i.e. Assurance or Consulting?

    Day 2

    Recap of Day 1 Course

    Topic – 6

    Internal Controls & Risk
    • Strengthen internal controls and concept
    • Internal control fundamentals
    • COSO, COCO, COBIT– What, Why, How
    • Whistle blower and Related Party Transaction policies and benefits?
    • Practical best practice examples of strong Internal Controls
    • Practical discussion on list of Risk & Controls of different business processes

    TOPIC – 7

    Internal Audit Role in Fraud Risk prevention& Detection
    • What is fraud Risk?
    • What are the types of fraud?
    • Which Businesses are affected by fraud?
    • Why do people commit fraud?
    • The Fraud Triangle
    • How to improve internal controls to prevent from fraud?
    • Fraud Facts
    • Increased role of IA in fraud prevention and fraud risk management
    • Activity – Red Flags Internal Audit should know about Fraud Risk

    Topic – 8

    Audit Reporting & Best Practices
    • Conduct Internal Audit Engagement
    • Communicate risk based audit report& Monitoring results
    • Assurance Engagements
    • Consulting Engagements
    • Compliance Audit Engagements
    • Audit Tools & Techniques
    • 5Cs of Observation
    • Result communication & Follow-up action plans