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)
AanmeldenDate
March 7, 2025
Time
09.00 to 17.00
Rate members/ non-members
€495,-/ €595,-
CPE
7
Location
Online
Teacher
James Paterson
Who should attend?
Auditors and Senior Auditors (for themselves)
Audit Managers and Audit Quality leads (for support as they lead/QC the work of others)