RM(R)1 Identifies and RM(R)1.1 Evaluates strategic, operational, financial, regulatory and evaluates the information system risks, based on an understanding of risks the environment in which the entity/audit engagement pertaining to operates, its strategies and management processes the financial RM(R)1.2 Identifies the business processes which are susceptible information to fraud and, where applicable, documents the systems system introduced by the business to mitigate the risk RM(R)2 Identifies the RM(R)2.1 Identifies the entity's key business processes, including key internal the procurement processes, and identifies general and controls application controls, both manual and IT, within these (including IT business processes related controls) implemented in an entity RM(R)3 Evaluates RM(R)3.1 Evaluates the design adequacy of internal control, internal control including application and general controls within the IT environment in the context of the criteria/recognised framework RM(R)4 Conducts RM(R)4.1 Documents the components of the entity’s/audit governance engagement’s governance structure and its role, for reviews in example board of directors, audit committee, etc. accordance RM(R)4.2 Evaluates the corporate governance practices of an with entity/audit engagement in relation to relevant legislation appropriate and practices governance standards
RM(R)1 Identifies and evaluates the risks pertaining to the financial information system RM(R)1.1 Evaluates strategic, operational, financial, regulatory and information system risks, based on an understanding of the environment in which the entity/audit engagement operates, its strategies and management processes RM(R)1.2 Identifies the business processes which are susceptible to fraud and, where applicable, documents the systems introduced by the business to mitigate the risk RM(R)2 Identifies the key internal controls (including IT related controls) implemented in an entity RM(R)2.1 Identifies the entity's key business processes, including the procurement processes, and identifies general and application controls, both manual and IT, within these business processes RM(R)3 Evaluates internal control RM(R)3.1 Evaluates the design adequacy of internal control, including application and general controls within the IT environment in the context of the criteria/recognised framework RM(R)4 Conducts governance reviews in accordance with appropriate governance standards RM(R)4.1 Documents the components of the entity’s/audit engagement’s governance structure and its role, for example board of directors, audit committee, etc. RM(R)4.2 Evaluates the corporate governance practices of an entity/audit engagement in relation to relevant legislation and practices
Generic_Training_Plan_2016_Auditing_and_Assurance.docx