Introduction

Internal audit functions are increasingly expected to move beyond traditional compliance and risk identification roles to deliver measurable organisational value. While risk-based auditing remains essential, the inverse of risk—opportunity—represents a significant, often underutilised source of improvement and performance enhancement. Opportunity auditing focuses on identifying inefficiencies, unnecessary controls, and over-managed processes that constrain value creation. This Opportunity Auditing training course addresses how audit professionals can apply a structured, opportunity-focused approach to deliver tangible financial and operational benefits.

The course explores how opportunity auditing complements risk-based assurance by identifying areas where processes, controls, or activities no longer align with organisational priorities. Participants learn how to assess value for money, challenge entrenched practices, and support management in simplifying operations while maintaining effective control. By applying opportunity auditing principles, internal audit functions can enhance their strategic relevance and demonstrate clear return on investment.

 

Key Learning Outcomes

At the end of this training course, participants will be able to:

Training Methodology

This training course adopts a practical, application-driven learning approach combining guided instruction, facilitated discussion, and realistic audit scenarios. Participants apply opportunity auditing techniques through exercises and role-based activities, strengthening their ability to deliver value-focused audit outcomes in real organisational contexts.

Opportunity Auditing

Who Should Attend?

This training course is ideal for professionals seeking to…

  • Internal auditors and audit managers
  • Risk and assurance professionals
  • Governance and control specialists
  • Performance and value-for-money reviewers
  • Professionals involved in audit planning and delivery
  • Leaders seeking to enhance audit value contribution

 

 

Course Outline

Day 1

Introduction to Opportunity Auditing

  • Understanding the concept of opportunity auditing
  • Importance and benefits of opportunity auditing
  • Role of opportunity auditing in organizational success
  • Identifying different types of opportunities
  • Case studies and examples of successful opportunity auditing
Day 2

Opportunity Identification

  • Techniques and methods for identifying opportunities
  • Conducting market research and trend analysis
  • Identifying customer needs and pain points
  • Analyzing industry and competitor landscapes
  • Brainstorming and idea generation for potential opportunities
Day 3

Opportunity Evaluation

  • Assessing a potential opportunity’s viability and feasibility.
  • Evaluating market demand and potential profitability
  • Understanding the importance of risk management in opportunity auditing
  • Recognizing and evaluating possible risks and uncertainties
  • Developing risk mitigation strategies
  • Analyzing resource requirements and constraints
  • Conducting risk assessment and mitigation strategies
  • Prioritizing opportunities based on strategic fit and goals
Day 4

Opportunity Planning and Development

  • Performance evaluation and improvement targets
  • Creating a roadmap for opportunity implementation
  • Developing a comprehensive business plan
  • Defining key objectives, targets, and milestones
  • Allocating necessary resources and budgeting
  • Identifying potential partners and collaborations
  • Implementing continuous improvement practices
Day 5

Opportunity Execution and Monitoring

  • Implementing the chosen opportunities
  • Establishing effective project management practices
  • Monitoring progress and measuring success metrics
  • Addressing challenges and making necessary adjustments
  • Reviewing and updating the opportunity execution plan
  • Incorporating feedback loops and continuous improvement
  • Developing a personal action plan for ongoing opportunity auditing

International Standards & Professional Alignment

Our training courses are aligned with internationally recognised professional standards and frameworks across leadership, strategy, finance, governance, risk, compliance, and audit. By integrating globally trusted models, we ensure learners develop practical, relevant, and industry-recognised capabilities.

Our trainings draw on leading international standards and professional frameworks, including ISO, ISACA, COSO, OECD, IIA, FATF, Basel, IFRS/ISSB, GRI, NIST, CPD, ILM and the OECD AI Principles. This alignment ensures consistency with global best practices across financial management, risk oversight, digital governance, sustainability, and strategic decision-making..

Designed in alignment with globally recognised professional bodies, our courses support continuous professional development, strengthen organisational capability, and provide clear pathways toward professional certifications valued worldwide.

Ready to Take the Next Step?

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FAQs

Opportunity auditing focuses on identifying value-adding improvements rather than solely highlighting risks or control failures. This training course shows how audits can deliver measurable financial and operational benefits.  

The course equips participants with methods to identify inefficiencies, unnecessary controls, and low-value activities, supporting improved economy, efficiency, and effectiveness.  

No. Opportunity auditing complements risk-based auditing by addressing performance improvement while maintaining appropriate risk awareness and control.  

Opportunity auditing is applicable across public and private sector organisations seeking improved performance, cost optimisation, and stronger audit value delivery.  

Participants gain the ability to plan and deliver opportunity-focused audits that generate cost savings, streamline processes, and strengthen the strategic relevance of internal audit.  

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