1. Business Processes and Risks
Chapter 5
Business Processes and Risks

2. Chapter 5 Learning Objectives
Understand how organizations structure their activities to achieve their objectives.
Identify key business processes in an organization.
Obtain an understanding of a given business process and be able to document it.
Understand basic types of business risks organizations face.
Identify and assess the key risks to an organization’s objectives and how they are linked to business processes.
Develop an audit universe for an organization and determine an annual internal audit plan based on key business risks.
Understand how to use risk assessment techniques within assurance engagements.
Obtain an awareness of the new risks that arise when an organization outsources some of its key processes.
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

3. Exhibit 5-1
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

4. Exhibit 5-2
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

5. Exhibit 5-3
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

6. Exhibit 5-4
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

7. Exhibit 5-5
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

8. Exhibit 5-6
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

9. Exhibit 5-7
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

10. Exhibit 5-8
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

11. Exhibit 5-9
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

12. Exhibit 5-10
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

13. Exhibit 5-11
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

14. Exhibit 5-12
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

15. Exhibit 5-13
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

16. Exhibit 5-14
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

17. Exhibit 5-15
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

18. Exhibit 5-16
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

19. Exhibit 5-17
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

20. Exhibit 5-A1
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

21. Exhibit 5-A2
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

22. Exhibit 5-A3
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.

23. Add slides as desired
Copyright: Internal Auditing: Assurance and Advisory Services, by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, Florida U.S.A.