The Full Form of RFIA is Risk Focussed Internal Audit.

RFIA also in some banks called Risk Based Internal Audit (RBIA) is not about auditing risks but about
auditing the management of risk. Its focus is on the processes applied by the management team. Internal auditors
need to spend time with managers, discussing and observing the monitoring controls they apply, rather than reperforming controls or other responses, or analysing data for themselves. Internal auditors should behave in a
way that reinforces the fundamental principle that management is responsible for managing risks.
RFIA is the cutting edge of internal audit practice. As a result, it is an area that is evolving rapidly and where
there is still little consensus about the best way to implement it.