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What is the difference between Risk Based Audit and Control Based Audit ?

Risk Management Certified Internal Auditor Internal Audit
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Question added by Alhussein Elsawy , Internal Audit Manager , Bindawood Holding
Date Posted: 2015/11/26
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Gert Abraham Venter
by Gert Abraham Venter , Flight Seargent and Head of Department , South African National Defence Force

Risk Based Audit is an Audit that is done according to the highest risks identified in the Baseline Risk assessment.

 

Control based Audit is an Audit that is conducted to measure the effectiveness of the critical controls that was put in place to minimise the risk.

Abdul Majeed

Risk audit mean any thing loss & control audit for again corruption

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