Practical Application of Key Root Cause Analysis Techniques

The IIA GIAS requires that Internal Auditors (IA) implement a methodology for Root Cause Analysis (RCA) as part of their documented audit methodology.  It also requires that they report root causes and best practices to senior leaders and the board/audit committee. Building on the one-day introduction to RCA, this new one-day course helps guide audit teams on how they can apply RCA key techniques in practice.

What will I learn?
Recap of RCA fundamentals: 

• The difference between immediate, contributing and root causes,
• Why there can be no such thing as one root cause, 
• How to address the question of blame, considering human variability and the Just Culture framework. 
• The different types of RCA techniques that exist. 
• It goes on to look at three out of five of the following RCA techniques most popular with IA teams: 1) the Three way five whys, 2) the Bowtie diagram, 3) the modified Fishbone diagram, 4) the fault tree and 5) causal loop diagrams; and gives practical help how to use these techniques. 
• On completion you will be confident how to apply three key RCA techniques and be able to explain these to other colleagues. 

Course programme

• Hands on use of key RCA techniques examining a range of risk, compliance, and governance examples. 
• A clearer understanding of how such analysis can get ‘off track’ and how to correct this 
• Making the connection between RCA and understanding best practices in GRC.
• Seeing more clearly the pros and cons of different techniques 

CPE competency areas covered

• Performance (Organisational governance | Risk management | Internal control | Engagements
• Environment (Organisational strategic planning and management)