slide1
Download
Skip this Video
Download Presentation
Pamela McCoy, CPA, CIA, CISA Senior Product Manager TeamMate Product Development Team October 9, 2003

Loading in 2 Seconds...

play fullscreen
1 / 13

pamela mccoy, cpa, cia, cisa senior product manager teammate product development team october 9, 2003 - PowerPoint PPT Presentation


  • 331 Views
  • Uploaded on

Electronic Audit Management Systems “Automated Working Papers” Project & Resource Scheduling Risk Assessment Electronic Work papers Knowledge Management Reporting Project and Issue Tracking. Pamela McCoy, CPA, CIA, CISA Senior Product Manager TeamMate Product Development Team

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'pamela mccoy, cpa, cia, cisa senior product manager teammate product development team october 9, 2003' - arleen


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1

Electronic Audit Management Systems

  • “Automated Working Papers”
    • Project & Resource Scheduling
    • Risk Assessment
    • Electronic Work papers
    • Knowledge Management
    • Reporting
    • Project and Issue Tracking

Pamela McCoy, CPA, CIA, CISA

Senior Product Manager

TeamMate Product Development Team

October 9, 2003

agenda
Agenda
  • Paperless Audits: What, Why?
  • A few questions for you
  • Paper-based Audits: A unique study
  • Paper-based “pains”
  • Standards?
  • What should you expect from your system?
  • Other Considerations
  • What should you do?
  • Challenges and Questions
paperless audits what
Paperless Audits – What?

Any audit that is electronically planned, documented, indexed, referenced, reviewed, reported, and stored.

paperless audits why
Paperless Audits – Why?
  • Enhance and improve auditor efficiency & effectiveness
  • Manage and leverage knowledge
  • Reduce, or even eliminate, non value-added activities
  • Improve business decisions
  • Manage and share information
  • Standardize the “usual”
  • Promote consistency in approach
  • Promote timeliness in reporting
a few questions for you
A Few Questions for You
  • What is your E-mail package?
  • How do you share audit information?
  • What is your Operating System platform?
  • What are your typical audit dynamics?
    • Time – weeks and/or hours
    • Do you work in teams?
    • Work from the office or from the field?
    • Levels of review?
  • When do you want to implement?
  • Why do you want to implement?
  • Have you seen other systems?
paper based pain 1 preparation
Paper-Based Pain #1: Preparation
  • Write, print, and manually annotate (cross-reference, tickmark, signoff)
  • If edits, re-write, re-print, re-annotate
  • Repagination and/or incorrect cross-referencing
  • How to locate and re-use prior workingpapers
  • Lack of standardization in set up and audit approach
paper based pain 2 review
Paper-Based Pain #2: Review
  • Reviewer must be where the working papers are
  • Working papers must be complete
  • Reviewer must search to find items “ready for review”
  • Review comments or post-review edits mean the process must be restarted
  • Interruption of audit workflow
paper based pain 3 access storage
Paper-Based Pain #3: Access & Storage
  • Archival requirements – how long must you keep them?
  • Where do you keep them?
  • How can you find them?
  • Storage costs
  • Security
  • Multiple files are heavy
  • No easy way to back up paper
paperless audit standards
Paperless Audit Standards
  • AICPA, IIA, and GAO standards are vague
  • Permit use of media “other than paper”
  • Courts accept electronic evidence and signatures
  • Electronic signature must be under the signer’s sole control and verifiable
  • We must assume the evidence and documentation requirements are the same as paper working papers
what features should you expect
What Features Should You Expect?
  • MUST incorporate your process
  • Flexible operating model
  • Drives consistency in audit process
  • Real-time preparation and review
  • Minimal workflow interruption
  • Electronic signature integrity and control
  • File security – encryption technology
  • Intuitive look & feel
  • Automatic indexing and referencing
  • Imaging technology
  • Report generation – in YOUR format
  • Understandability and reliability
  • DBMS
other considerations
Other Considerations
  • Your IT Infrastructure – How will you share information?
  • Microsoft vs Lotus Notes platforms
  • Supportability and maintenance
  • Time to build and incorporate into current plan
  • Help desk – yours or the vendor’s?
  • Training – who, how, where? How often?
  • Other costs – PC or NW upgrades, scanners, turnover
so what should you do
So What Should YOU Do?
  • Understand, agree on, and document your current process
  • Establish your protocols
  • Identify and understand your requirements
    • Hardware
    • Network
    • Documentation
  • Talk to the vendors – can you test the product?
  • Talk to the users – yours and theirs
  • Allow for and accept a learning curve
challenges and questions
Challenges and Questions
  • Agreement on basics
  • Acceptance
  • Learning curve
  • Support from the “top” – use is not an option
  • Fear of change – “If it ain’t broke, don’t fix it”
  • How about “If it ain’t broke, break it?”
ad