Risk Based Approach Success Assurance Management Analytics Assessment
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The document outlines five approaches to risk-based auditing, including rapid assurance and project assurance, emphasizing the importance of defined scopes and strong management. It also covers risk evaluation, identification, and analysis processes within organizational contexts, particularly in relation to supplier management and cyber security. Lastly, it highlights the need for continuous monitoring and analytical reporting to prioritize testing and mitigate risks effectively.
Risk Based Approach Success Assurance Management Analytics Assessment
- 1. Risk Based Your C ompany N ame
- 2. 5 Approaches to Risk based Auditing with Project Assurance 2 1. Rapid Assurance • Works best with relatively stable processes, and technology such as client onboarding, etc. • Add text here • Have well-defined and limited scope • Add text here • Add text here • Strong project management discipline • Add text here 2. Project Assurance • Ideal for, process implementation with an established end date • Add text here • Provide support through building and configuration, testing etc. • Add text here • Prior project implementation experience • Add text here 3. Facilitated Self- Assessment • Works well to assist leaders with expanded responsibilities • Add text here • Visible engagement • Add text here • Add text here • Ability to influence risk management • Add text here 4. Maturity Models • Add text here • Add text here • Add text here • Add text here • Add text here • Add text here 5. Data Analytics • Add text here • Add text here • Add text here • Add text here • Add text here • Add text here Approach Approach Profile Success Factors Audit Skills This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 3. Framework for Risk based Strategic Maintenance Plan 3 • Evaluate Consequence of Failure • Text Here • Text Here • Evaluate Probability of Failure • Text Here • Text Here • Collect Data • Includes information about the risk, its general consequences etc. • Text Here • Rank Risks • Risk is ranked against pre- determined levels of risk either it is acceptable or unacceptable • Create Inspection Plan • Use of condition monitoring approach if the risk is unacceptable • Add text here • Propose Mitigation Measures • Preparation of mitigation measure using condition monitoring and • maintenance approach • Add text here • Reassessment • Add text here • Add text here Risk Evaluation This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 4. Organizational Risk based Testing with Identification and Analysis 4 • Consult technical staff • Prepare draft register of risks • Add text here • Assign probability and consequence scores • Calculate exposure • Add text here • Formulate test objectives • Document dependencies, requirements and timescales for testing • Nominate responsibilities • Add text here • Agree responsibilities and budgets • Add text here • Add text here • Complete test stage definitions • Add text here • Add text here Risk Identification Risk Analysis Risk Response Test Scoping Test Process Definition Tester Activity Workshop Tester Activity Tester Activity Review and Decision This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 5. Risk based Approach for Supplier and Raw Materials Management 5 • Business Alignment • Continuous Assessment • Add text here • Contingency Plans • Add text here • Add text here • Personnel, facility and equipment • Add text here • Add text here • Capital • Overhead Expense • Add text here Scope Timeline Resources Cost Initiation Business case and key project goals Risk Mitigation through data sourcing Relevant user requirement specifications Supply chain transparency Cost competitiveness Plan Team Technical expertise QA and regulatory framework This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 6. Risk based Approach to Cyber and Information Security 6 01 • Perform a Risk Assessment: • Identify risks to your data and systems • Define controls to manage risks based • on size and complexity • Add text here 02 • Document Controls: • Re-write documentation to include technical, administrative and physical safeguards identified and how they are used • Add text here 03 • Implement Controls: • Inventory of hardware and software assets • Email and web browser protections • Secure device configuration • Add text here 04 • Assess and Report: • Vulnerability assessments • Application assessments • Penetration testing • Add text here 05 • Remediate: • Prioritize remediation efforts through risk assessment ratings for eliminating, reducing and managing threats and vulnerabilities • Add text here This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 7. • Risk estimation • Hazard identification • Probability analysis • Risk estimation • Add text here • Risk evaluation • Set up acceptance risk criteria • Compare assessed risk with acceptance criteria • Add text here • Maintenance planning • Develop maintenance plan to bring down unacceptable risk to acceptable level • Add text here Divide system into manageable units Consider one unit at a time Risk based Maintenance with Planning and Evaluation This slide is 100% editable. Adapt it to your needs and capture your audience's attention. 7
- 8. This slide is 100% editable. Adapt it to your needs and capture your audience's attention. Text Here This slide is 100% editable. Adapt it to your needs and capture your audience's attention. Text Here Risk based Project Schedule Plan on White Board 8
- 9. Risk based Testing Approach with Warning Sign 9 01 Text Here This slide is 100% editable. Adapt it to your needs and capture your audience's attention. 02 Text Here This slide is 100% editable. Adapt it to your needs and capture your audience's attention. 03 Text Here This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 10. Risk based Testing Process with Identification and Planning 10 • Stakeholder Objectives • Risk Mitigation Factors • Add text here • Continuous Monitoring • Analytical Reporting • Add text here • Test Case Prioritization • Add text here • Add text here • Testing Techniques • Add text here • Add text here • Risk Differentiation • Add text here • Add text here • Impact Analysis • Add text here • Add text here Identification Analysis Risk Exposure Test Planning RBT Governance Test Policy This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 11. Summary Flowchart for Risk based Auditing in IT Environment 11 Audit Consideration s • ASSESS: • Potential for errors & fraud • Entity Level Controls • Add text here • IT applications & design • Inherent risks (errors, fraud) • Effectiveness of design of controls • Review of Risk Assessment Report with Audit team • Add text here • Designing & performing F AP’s • Relevance of Prior Period Audits • Tests of Controls • Add text here Audit Activities & Procedures No Yes Planning IT risk assessment procedures FAP needed? Resultant findings Understanding IT environment & related controls & risk assessment Output Audit program and plan document Text here Text here Audit program and plan document Text here Text here • Reporting • Audit working papers • Findings, comments & recommendations • Add text here FAP: Further audit procedures This slide is 100% editable. Adapt it to your needs and capture your audience's attention.
- 12. Thank You Address # street number, city, state Contact Number 0123456789 Email Address emailaddress123@gmail.com 12