Risk Based Internal Audit Resource Center
 

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	Web www.auditnet.org

New Resources on Risk Assessment & Risk Management

RISK TV Risk Television is an Internet Television Network devoted exclusively to risk management research.

Compliance Executive an online news and feature portal focusing on the areas of corporate governance, risk and compliance and reaches 45,000 senior level financial and legal executives throughout the US.

Articles on Risk Assessment

1. Assessing the Risk of Management Fraud Using Red Flags: A Fuzzy Number Based Spreadsheet Approach
2. Auditing in the New Millennium
3. Risk Assessment When Auditing E-commerce Activities
4. Risk Assessment Do's and Don'ts
5. Risk Assessment in Audit Selection risk assessment model for a small internal audit department. 

Best Practices

1. Best Practices in Risk Management: Private and Public Sectors Internationally
2. Integrated Risk Management Framework - from the Treasury Board of Canada
3. Risk Management Best Practices, Case Studies, and Related information - Version 1 CD from Pleier and Associates.
4. Risk Survey by KPMG Canada profiles risk management practices in Canada's leading organizations. The business leaders were identified from Canada's top 500 companies as ranked by The Financial Post. Government leaders were selected from the federal civil service. A total of 101 interviews were completed.
5. Information Security Risk Assessment: Practices of Leading Organization is a GAO document on the subject. 

Books

1. Risk Based Auditing for Internal Auditors www.mc2consulting.com/rbasem.htm

Guides

1. Review Guide to an Audit of Risk Management
   www.tbs-sct.gc.ca/Pubs_pol/dcgpubs/TB_H4/RISK1E.html

2. Uncertainty & Risk Analysis www.pwcglobal.com/uk/eng/about/svcs/bd/u&ra.pdf guide from PricewaterhouseCoopers UK

Risk Frameworks

1. Firm Risk Assessment Framework from the UK Financial Services Authority

Web Sites

1. City of San Jose Office of the City Auditor Risk Assessment Library
   www.ci.san-jose.ca.us/auditor/threats.htm provides risk matrices for city departments.
2. KnowledgeSpace www.knowledgespace.com KnowledgeSpace Internal Audit and Risk Management Community is a subscription-based website that provides, tools, resources and best practices to help internal auditors save time, manage risk, and add value.
3. Yale University www.yale.edu/auditing/balancing_risks.htm
4. Tampa Internal Audit Departmental Risk Analyses - links to 58 local government risk analysis worksheets - www.tampagov.net/dept_internal_audit/risk_analyses/index.asp
5. Use of Risk Assessment in Audit Planning - ISACA standard - www.isaca.org/standard/guide19.htm
6. Automated Applications for Risk Assessment, Planning and Analysis - The Texas State Auditor's Office (SAO) has developed a number of automated systems for use in risk assessment, planning, and analyzing the condition of state agencies and institutions in the state of Texas. www.sao.state.tx.us/Resources/AutoApps/
7. Resources for Risk Managers
8. Understanding Internal Controls - www.ucop.edu/ctlacct/under-ic.pdf is a guide from the University of California Financial Management Controls and Accountability which includes a section on Risk Assessment

• Activity Based Risk Evaluation Model of Auditing (ABREMA) ...Australian Educational Research Pty Ltd.
• Business Risk Management Ltd.
• Consumer Credit Research Group ...David J. Hand, Imperial College
• Enterprise Risk Services ...Deloitte & Touche - UK
• Guide to Risk-Based Audits ...by Doug Carmichael, David Landsittel, Ed Rockman, and Tom Houck, published by PPC
• Institute of Risk Management ...UK
• IFCI Risk Institute ...International Finance & Commodities Institute (IFCI)
• Risk Assessment and Risk Management ...David McNamee
• Risk Audit Limited ...London
• Risk Based Auditing for Internal Auditors ...David McNamee
• Risk Based Auditing Software ...Internal Audit Software Ltd
• RiskMetrics
• Strategic Risk Management provides KPMG's approach to SRM. Includes an SRM announcement list. 

Risk Reports

1. Institutional Compliance Program - www.utsa.edu/compliance/compog/appendices/AppendixD.html#RISK%20BASED%20COMPLIANCE%20PLAN

Sample Risk Methodologies

1. Audit Survey of the Joint Architect of the Capitol www.house.gov/IG/95aoc27/report.htm
2. Cornell University Risk Assessment Process www.aff.cornell.edu/audit/assessment.html
3. Indiana University Self Assessment Tool wwwdb.ucs.indiana.edu/internalauditing/Scripts/login.cfm log in anonymously for an example of the tool available through the audit department.  
4. Jefferson Lab Risk Assessment Criteria www.jlab.org/div_dept/audit/strategy.html
5. Risk Based Methodology for Colleges and Universities amas.ucsd.edu/Documents/D%20-%20Quantitative%20Risk%20Model%202000.pdf from the Risk Based Audit Work Group.
6. University of Manitoba www.umanitoba.ca/admin/audit_services/mandate/assessment.html

Software (links available from AuditNet)

1. AuditLeverage www.auditleverage.com from IAD Solutions
2. TeamMate from PricewaterhouseCoopers www.pwcglobal.com/teammate
3. AutoAudit from Paisley Consulting www.paisleyconsulting.com
4. Galileo www.GalileoOnTheWeb.com
5. Magique Risk Management System www.horwathsoftware.co.uk/Magique
6. Pentana www.pentana.com
7. Rank It Risk Assessment Tool demo available from AuditNet
8. @Risk www.palisade.com Trial version

Tools

1. Information Systems and Technology - Project Templates from the University of Waterloo - ist.uwaterloo.ca/projects/templates.html
2. IT Risk Assessment Template (Excel) from the AuditNet inventory
3. List of Risk Analysis, Assessment and Management Tools www.itaudit.org/forum/riskmanagement/f203rma.htm
4. Risk Factors - Criteria used to identify the relative significance of and likelihood that
   conditions/events may occur that could adversely affect the organization.
5. Risk Management and Internal Control www.treasury.nsw.gov.au/pubs/rmic/rmicmain.htm a step by step approach to risk management includes a self assessment matrix.
6. Risk Matrix (Risk Matrix 2.20) - Risk Matrix is an automated tool, developed by Mitre Corporation with the federal government to facilitate the structured approach for identifying risk and assessing its potential program impact. The matrix and users guide are available from the auditnet site at www.auditnet.org.
7. Self Examination for your Internal Audit Department provides "A" Test for Corporate Governance and "A" Test for Risk Assessment & Audit Planning.

Training

1. Audit Services is a training consultant that offers a seminar on risk assessment. 
2. Government Audit Training Institute www.grad.usda.gov/programs_services/auditing/gatp.cfm
3. Institute of Internal Auditors www.theiia.org/iia/training.cfm
4. MIS Training Institute www.misti.com
5. Risk Management for Internal Auditors and Business Managers audittrends.com/Seminars8.htm