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Forums IA Queries Risk assessment for NBFC

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    Amit Saini
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    How we conduct risk assessment and develope a plan for internal audit department

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  • Risk assessment for NBFC

    Admin ji updated 1 year, 8 months ago 2 Members · 1 Reply
  • Admin ji

    Administrator
    May 18, 2021 at 4:21 pm

    Things you should keep in mind while preparing an Internal Audit Plan:
    1. Hot spots/ Risk surveys done by some big advisory firms ( Easily available on Internet)
    2. Previous audit plans, to understand ageing( Since when a function is not audited)
    3. Check previous audit reports (Function with high risks should be frequently audited as compared to low risk functions)
    4. Attrition rate ( More attrition = More risk)
    5. Discuss with HODs for their inputs
    6. Discuss with Risk team for Inputs (In some organisation risk and audit are part of same department)
    7. Regulations ( Some of the regulatory audits are obviously part of your audit plan)
    8. Top business carrier(Topline , bottom line , Mazor expenses)
    9 Size of your team/budget …

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