Risk Assessment in Auditing

On January 28-29, 2010 the Risk Assessment Training Workshop with the Accounting Chamber of Ukraine was carried out. The training event was organized within the Agreement on Project Cooperation between the Accounting Chamber and the Ikon International Associates Ltd advisory company of Scotland with the support of the British Embassy in Ukraine.

The experts from the UK National Audit Office were invited as key-note speakers to share with the Ukrainian colleagues the experiences and practices of the UK NAO on such issues as risk assessment techniques and approaches, risk management standards, UK NAO audit methodologies etc.

A relevant audit software application from UK was demonstrated during the workshop. The software provides auditors a possibility to exercise overall control over the audit process at all stages. The theory was consolidated by discussions, practical group work and case studies. At the end of the two-day training workshop the certificates were awarded to the participants.

The seminar is a part of the project "Introduction of Risk Assessment Project in Ukraine" that runs from August 2009 until March 2010 and is being financed by the British Ministry for Foreign Affairs through the Embassy of Great Britain to Ukraine. The project aims at enhancing the institutional capacity and the ACU operations efficiency by development and introduction of a risks assessment and prevention system.