Webclass 99: How do you plan your audits?

Q1. What is the difference between strategic plan and engagement plan?

Strategic plan is what we plan out for next year or two, engagement plan is the plan for the actual audit

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Engagement plan is the engagements to be planned for the next audit or two and strategic plan is what we plan for the next audit

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Q2. Should internal auditors assess Risk Management process as part of audit assurance?

Yes

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No

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Q3. What does 2010.A1 of the IIA practice advisories say that the internal audit plan should be based on?

1/ Documented risk assessment (at least annual) and 2/ Input of senior management

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A rotation plan to ensure that everything gets covered within at least a five-year period

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Q4. Is it advised to use data analytics to help perform the risk assessment?

Yes

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No

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Q5. Why does Claire think that data analytics does not occur mainly during fieldwork?

Because there is not enough time in fieldwork and because data analytics should help to identify the fieldwork to be performed

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Because data analytics is solely for risk analysis

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Q6. If we are doing Risk Based Internal Audit Planning, should we assess the control environment during the planning or during the fieldwork?

During the planning

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During the fieldwork

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Q7. If you have a risk map, can you use data analytics to assesss all items on the risk map?

Not all, but some of them

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Yes, data analytics can be used to assess all risks

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Q8. What could be a solution when auditors are refused access to data, according to the IIA?

Write into the internal audit charter that "full, free and unrestricted access to all records, data, personnel and assets at the time they are relevant for performance of internal audit work"

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Ensure that the request for data access is made at least two months before the audit

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Q9. What is an advantage of computing risk scores automatically rather than subjectively?

Same result no matter who is doing the scoring: more objective/ fair/ ability to compare between all entities/ ability to refresh risk dashboards every month with minimal effort thanks to automation

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Risks might get a higher than expected score

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Webclass 99: How do you plan your audits?

Webclass 99: How do you plan your audits?

admin June 9, 2026

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