The audit methods used today in many financial institutions are no longer effective and thus in critical need of an update. The “risk-based process audit” is a methodology that uses critical, outside-the-box thinking to develop recommendations on how to resolve risk-management problems in institutions, helping them avoid stagnation and ensuring that processes function as they should.

IPC applies this methodology as a means to transform internal audit departments from inspection-focused “mistake finders” into “solution providers” that give invaluable assistance to the owners and managers of financial institutions.