Root cause analysis

Presented by James Paterson

Learn a key technique now required by the new Global Internal Audit Standards.  Appreciate why it’s necessary to go beyond the ‘5 whys” technique. Specifically learn how and when to use the ‘3-way 5 whys’ approach, the fishbone diagram and causal loop mapping.

With these enhanced RCA techniques learn to see the difference between immediate, contributing and root causes. Learn also eight of the common reasons why things can go wrong.

Also see how RCA will not slow down audit assignments and will often help with smarter assignment scoping and shorter, more insightful, audit reports.

Who should attend?

Experienced auditors, audit managers and heads of internal audit.

What will I learn?

Upon completion you will be able to:

• understand key new IIA requirements for root cause analysis and thematic analysis
• learn key root cause analysis techniques beyond the five whys approach
• gain a clearer sense of how an audit methodology can be improved in order to deliver more robust and consistent root cause analysis – recognising there are always at least two root causes for any issue (concerning detection and prevention)
• see how effective root cause analysis should not normally slow down an audit assignment but rather help it to be better focussed in the first place
• understand good practice RCA categories that explain WHY things have gone wrong, NOT simply WHO was involved or WHAT went wrong or HOW things went wrong.

Course programme

Key IIA guidance and the latest Global Internal Audit Standards requirements.

Five key RCA techniques and when to use them:

• 3 way 5 whys
• Fishbone
• Fault tree analysis
• BowTie diagram
• Causal loop analysis

How to incorporate RCA into an audit methodology.

How RCA can help deliver shorter, more impactful audit reports with insight and foresight.

Themes and RCA categories

• the importance of having appropriate RCA categories, so that audit findings can be properly themed - both what and why.

CPE competency areas covered

• Performance (Organisational governance | Risk management | Internal control | Engagements

• Environment (Organisational strategic planning and management)

7 CPE points