Subject:	“Build Your Annual Risk Based Audit Plan”
Date:	Tuesday, 28 January 2025
Time:	9:00 to 12:00
Venue:	ONLINE via ZOOM
Language:	English
CPE Points (Continuous Professional Education):	3 CPEs
Instructors:	Isabella Arndorfer (BA, MA, CIA, CFSA, CCSA)
Outline:	Seminar Outline
Registration Form:	Seminar Participation

Course content:

• Defining the Audit Universe: Identifying the audit universe and its scope, defining auditable elements, and prioritizing them based on risk factors and organizational priorities.
• Risk Assessment: Exploring qualitative and quantitative risk assessment methodologies; applying rating scales for informed decision-making.
• Control Assessment: Evaluating the effectiveness of existing controls using assessment techniques and rating scales to ensure alignment with identified risks.
• The Audit Cycle: Understanding the importance of audit frequency in high and low-risk areas of your organization
• Audit Resource Planning: Plan your audit team’s availability and match it with the required resources for your planned audit engagements.
• Audit Plan Development: Developing an annual audit plan based on risk assessment findings, including resource allocation, scheduling, and strategic decision-making.

Learning Objectives:

By the end of this section, you will be able to:

• Understand the key role of risk-based audit planning in ensuring organizational integrity and efficiency.
• Define the audit universe, assess risks, and prioritize auditable elements based on organizational priorities.
• Evaluate control effectiveness and implement best practices across the audit cycle.
• Develop a comprehensive, risk-based audit plan aligned with organizational goals and resources.

Instructor:

Isabella Arndorfer is a seasoned Internal Audit and Governance expert with over 20 years of experience in the financial sector. She has held senior roles, including Internal Audit Manager at the Bank for International Settlements (BIS) and the International Monetary Fund (IMF), where she conducted and led audits across various departments, specializing in internal controls and corporate governance. Her expertise spans financial regulation, risk management, and corporate governance, making her a key figure in
ensuring compliance and operational efficiency within financial institutions.

In addition to her auditing career, Isabella has been an influential lecturer on internal audit and governance, contributing to central bank seminars in Asia, Europe, and at the University of St Gallen. She is also lecturer at the IIA Slovenia and ISACA Oman. She has played a key role in governance improvement initiatives for the Middle East and North African regions as a member of the MENA OECD Competitive Initiative. Her publications, including works on risk management, governance, and audit practices, highlight her deep knowledge and contributions to the field of internal audit and governance.

In 2023, she founded the training platform www.cpetrainer.com and has been providing freelance consultancy services in audit, risk management, compliance, and governance through her company, www.ia-advisory.com.

Isabella holds a master’s degree in international management from ESADE, a degree in Business Administration from the University of Economics in Vienna, and several prestigious certifications, including Certified Internal Auditor (CIA), Certified Financial Services Auditor (CFSA), and Certified Control Self-Assessment (CCSA). She is fluent in multiple languages, including German, English, and Spanish, with working knowledge of French and Russian, and is also a trained mediator for conflict resolution.