Risk Based Auditing
What is Risk Based Auditing?
An audit approach that prioritizes areas for examination based on risk assessment results, focusing resources on the highest-risk areas.
Frameworks that govern risk based auditing
What the standards actually require on risk based auditing
Requirements naming risk based auditing across 2 standards, quoted from the control text.
The board establishes an effective risk-based audit function that covers all of the institution's major activities, with the frequency and depth of each area's audit set by that area's risk assessment and appropriate to the institution's size and complexity.
ffiec-it-examination-handbook::AUD-11 · Risk Assessment and Risk-Based Auditing (Audit) →ISO 19011:2018, 7.2.3 applies, and 27007 adds to it in one place only. Without addition (7.2.3.1, 7.2.3.2, 7.2.3.4, 7.2.3.5): auditors hold the knowledge and skills to achieve the intended results of their audits, a generic competence plus discipline and secto...
iso-iec-27007-2020::7.2.3 · Knowledge and skills →Questions people ask about risk based auditing
What is Risk Based Auditing?
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See how Risk Based Auditing applies across compliance frameworks
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