From Risk Assessment to Risk Intelligence: Designing World-Class Continuous Audit Risk Assessment (CARA) Systems
Dates : 15-16 June 2026
The training is 2x1/2 day from 13:00 to 16.30
Language : English
CPE Points : 7
Deadline to register : 3 June 2026
Trainer name: Dr. Dominik Förschler
Type of session (Online training/ In-Person Training / Webinar): Online training
Overview
Traditional annual risk assessments are quickly outdated in a world of fast-changing risks, volatile markets, and emerging technologies. Continuous Audit Risk Assessment (CARA) provides a dynamic approach that enables internal audit to update its risk view in real time and to align its audit plan with evolving priorities.
This ARC audit training guides participants through the design, implementation, and operation of world-class CARA systems. Drawing on best practices, case studies, and the 2025 Global Internal Audit Standards, participants will learn how to transform static risk assessments into living, data-driven processes. The seminar combines strategic insights with practical exercises to help auditors deliver smarter planning and stronger assurance.
Learning Objectives
- Understand the evolution from traditional risk assessments to CARA.
- Learn how to design a CARA framework aligned with organizational strategy and risk appetite.
- Explore the role of data analytics, AI, and continuous monitoring in risk intelligence.
- Apply practical techniques for updating audit plans dynamically.
- Develop an action plan for implementing CARA in your internal audit function.
Who should attend?
Audit professionals, Audit managers
Course description
Agenda
1. Introduction to CARA and Risk Intelligence
From static to continuous: why traditional risk assessments fall short
The concept of risk intelligence in internal auditing
Alignment with the 2025 Global Internal Audit Standards
2. Designing a World-Class CARA Framework
Core components: governance, methodology, technology, and data sources
Integrating risk appetite and strategy into CARA systems
Exercise: mapping current risk assessment maturity vs. CARA best practices
3. Leveraging Technology and Data Analytics
Role of AI, dashboards, and continuous monitoring in CARA
Data-driven risk indicators and predictive analytics
Case study: implementing a near-time risk dashboard
4. Operationalizing CARA in Audit Planning
Updating the audit plan dynamically throughout the year
Linking CARA outputs to resource allocation and stakeholder communication
Workshop: redesigning an annual audit plan into a continuous CARA-driven
5. Quality, Governance, and Stakeholder Trust
Embedding CARA in methodology and QAIP
Linking competencies to internal audit strategy and board reporting
6. Applying Competencies to Engagements
Determining engagement-specific competency needs
Addressing challenges: data quality, resource strain, change management
Communicating CARA insights to boards and audit committees
7. Conclusion and Next Steps
Recap of key CARA concepts and tools
Developing a step-by-step CARA implementation roadmap
Group discussion: success factors and pitfalls in continuous risk assessment
Trainer bio
Dr. Dominik Foerschler
Managing Director | Senior Equity Partner
Audit Research Center | ARC-Institute
Chairman of the Digital Transformation Board
Dr. Dominik Foerschler was awarded by Richard Chambers in 2021 as one of the Top 12 influencers as Global Internal Audit Thought Leader.
In over 25 years of professional experience at Deutsche Bank, Canadian Imperial Bank CIBC and BMW in responsible management positions, with international assignments in Toronto, Chicago, New York, Madrid and London, Dominik is today the author of numerous expert books and articles in the field of Internal Audit, GRC and human resources development in renowned professional journals as well as the editor of a book series.
After holding various management positions and working as executive assistant to the President of the University of Frankfurt am Main, Germany and faculty member of the Management Research Center, Dominik now heads the Audit Research Center | ARC Institute as Managing Director. As Chairman of the Digital Transformation Board, he is also responsible for the development of new learning methods such as serious business games training as well as the developed Digital Stress Test as an audit methodology concept, which has become very well-known across Europe.