In today’s audit environment there is a lot of discussion around audit functions “adding value”. Audits are time consuming, can be expensive and are often a source of frustration for the audit client. Why? As auditors we often hear that the “auditor(s) just doesn’t understand my business”. The business can feel this way as a reaction to the proposed action and remediation plan. If an audit team doesn’t perform effective root cause analysis then the recommended action often will not solve root cause of the issue and problems will persist.
To truly add value, an audit must address the root causes of the issues and exceptions identified, not just the symptoms. This course is designed to introduce the various tools and methodologies used for root cause analysis and how to apply them to the audit process. Participants will learn interactively through a combination of lecture, case studies and exercises.
- Understanding Root Cause Analysis (RCA)
- Introduction to the various tools and methodologies that can be utilized for RCA
- Understand how RCA can be applied within audits
- Understanding when to utilize RCA in Internal Audit
- Understand the common challenges when using RCA
Learn how to apply RCA in practice
- Editing and Proofreading – and the difference
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