Auditing Strategic Risks

MIS Training Institute (MISTI)
Training overview
3 days

Course description

Auditing Strategic Risks

The 3-day Auditing Strategic Risks seminar is designed for auditors who need to identify and understand big risks that strategic initiatives bring to an organization. The course will teach the main risks and known areas of failure in the most common strategic initiatives used by organizations. This includes acquisitions, mergers and acquisitions, outsourcing and new systems design. 

During this course participants will have the opportunity to explore risks associated with technologies such as cloud computing and claiming a presence on the internet. They will also learn how to audit these risks and guarantee that they have been addressed correctly. Upon completion of this seminar, participants will have a working knowledge of the key risks in these important areas and how to address them with different audit strategies. 

Who should attend?

This course is suitable for Financial, Operations, IT and Regulatory Auditors, Public Accountants, Auditors in the public sector, Audit Managers and Audit Executives.

Training Content

This course will cover the following topics: 

1. Outsourcing/Third-Party Contracting

  • Key areas that require a proactive approach
  • The four key points of failure
  • Unrealized expectations: what they are and why they occur
  • The most critical risk areas and what to audit for in each
  • Most critical impacts on the audit process
  • Metrics and their huge impact on success
  • Automating the oversight and vendor management processes
  • Critical audit issues and concerns surrounding tenancy environments

2. Mergers and Acquisitions

  • Areas of critical audit involvement
  • Actively engaging in all of the critical stages of the process
  • Determining the primary causes of failure in M&A: what we should be doing
  • How do we prove what really happened at the end of the day
  • Auditing the key stages of M&A activity
  • The decision-making process
  • The contract
  • Due diligence: what to do, when and how
  • The integration
  • The final outcome

3. New Systems Design/Acquisition

  • The 12 deadly sins of systems implementation: why new systems/platforms fail and/or drive up the cost of implementation
  • Moving to a new application platform: what’s the business reason?
  • Overspending our project scenario (OOPS)
  • Unrealistic timelines
  • The phase 2 syndrome: never happens!
  • Failure to do a total systems/personnel impact analysis
  • Implementing a platform contrary to the established design criteria
  • Back to the future
  • ACE: the awful consultant experience
  • Data, data everywhere, but I can’t answer your question: the DRIP issue
  • SCORE: system-centric oversight and risk evaluation
  • The dog and pony show
  • Getting cooked by the boilerplate contract
  • Monitoring the consultants
  • Key areas of risk and audit interest: understanding the risks associated with the 12 deadly sins and ensuring that management has addressed them

4. Embracing New Technology

  • Critical non-technical risk areas that need to be audited to ensure they are addressed with appropriate controls/mitigation techniques
  • Cloud computing 
  • Data integrity
  • Data accountability
  • Legal jurisdiction
  • Contractual obligations
  • The great cloud train
  • Social networking sites/corporate and personal utilization and the risks they bring
  • Spoofing
  • Compensated blogging
  • Protection of confidential information
  • Protection of proprietary information
  • Highly transportable mass storage devices  
  • All shapes and sizes
  • Data security
  • Data availability
  • Key areas that should be restricted
  • The risks surrounding who, what, where, why, and how
  • Embracing new technology as an internal audit strategy
  • Hardware
  • Software

5. Internet Presence

  • Risks and concerns of the corporate website that need to be audited
  • Cost to value scenario
  • Key metrics that need to be monitored
  • Site content control
  • Impact vs. intent
  • Who is in control?
  • Related environments


The cost of this course is $2195 per participant. Request information to learn more!

Certification / Credits

Completion of this course is worth 24 CPE Credits



MIS Training Institute (MISTI)

With offices in London and Boston, MISTI is the global leader in IT audit, audit and information security training. Founded in 1978, MISTI has gained experience through training more than 200,000 delegates across five continents.  MISTI has made it their...

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Great overview of strategic risks and discussing relevant topics.
Asha, H, Mallinckrodt
A well rounded, example based, course designed to identify and address strategic risks within mergers and acquisitions, outsourcing, and new system design implementations.
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