From risk assessment to higher-quality audits

The Accounting Chamber of Ukraine continues its compliance audit training programme. On 21–23 September, EU4PFM experts delivered online training sessions for more than 40 auditors from the ACU’s territorial offices.

While the overall programme covers all stages of the compliance audit process, Module 2 – Risk Assessment focused on strengthening auditors’ ability to identify, assess and prioritize risks and to use the results of this assessment when planning further audit work.

The training aimed to help auditors:

• identify risks relevant to the subject matter and audit objective;
• assess the significance of identified risks and determine priorities;
• explain how priority risks influence audit questions, criteria and planned audit procedures;
• clearly document the professional judgements underlying the risk assessment.

The training followed a practical, case-based approach. Participants worked with a continuing case study based on the compliance audit “Institute of Veteran Assistant: Support and Reintegration into Civilian Life.” This case is used throughout all modules of the programme, enabling participants to follow the complete audit logic and progressively develop the relevant working documents.

When adapting the case for training purposes, the EU4PFM experts also incorporated practical experience gained through on-the-job support provided to other ACU audit teams. This allowed the exercises to reflect a broader range of methodological challenges and situations encountered in actual compliance audits.

During the sessions and through practical assignments, participants applied the methodology to specific situations, assessed the significance of risks, established priorities and documented the reasoning supporting their professional judgements.

Working with one continuing case enables auditors not only to consolidate their knowledge but also to understand how decisions made during risk assessment influence subsequent audit questions, criteria, procedures, evidence and conclusions.

The training programme, organized jointly by the Accounting Chamber of Ukraine and EU4PFM Component 5 experts, continues to strengthen the analytical and professional judgement skills that underpin high-quality compliance auditing.