True RBIA incorporates cascading the process through to each individual audit as well as the audit reporting process. The training program will focus on the establishment of a framework or methodology for RBIA and examine how to utilize risk-based questions within the process steps.
The Institute of Internal Auditors defines risk based internal auditing (RBIA) as a methodology that links internal auditing to an organizations overall risk management framework. RBIA allows internal audit to provide assurance to the board that risk management processes are effective in relation to risk appetite.
Many internal audit groups attempt RBIA but find aspects difficult to deploy within their organizations. This webinar will explore how executing RBIA requires a pre-established methodology that includes defining the organizations risk appetite/ risk tolerance and utilizing measurements that include financial, compliance, and operational metrics. Internal audit must be ready to put aside their checklists and standard work programs.
Lynn Fountain has over 35 years of experience spanning public accounting, corporate accounting and consulting. She has 20 years of experience working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance.
Ms. Fountain has held two chief audit executive positions for international companies. Since 2008, she has served in positions where she was responsible for internal audit, enterprise risk management and Sarbanes-Oxley. Ms. Fountain has a private consulting and training business, and she has developed and delivered leading edge training sessions on COSO, internal audit, ERM, accounting, leadership, governance, compliance and ethics. She delivers training for the American Institute of Certified Public Accountants, Institute of Internal Auditors, and multiple seminar and training groups.
Ms. Fountain is the author of two technical books that released in 2015: Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations; Leading the Internal Audit Function. In addition, Ms. Fountain is a frequent blogger on the LinkedIn platform and has also had numerous articles published in professional and technical publications. She is currently authoring a third technical book on corporate ethics and the internal auditor’s challenge.
She has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).