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Preliminary Survey

Preliminary Survey. Opening conference Agenda Tone & teamwork On-site tour--MBWA Document study BPO analysis—O’Brien 7 Analytical procedures in response to tests defined in planning stage Ratios Objectives. KTT. O’Brien 7. Mission statement Objectives Resources Restrictions

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Preliminary Survey

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  1. Preliminary Survey • Opening conference • Agenda • Tone & teamwork • On-site tour--MBWA • Document study • BPO analysis—O’Brien 7 • Analytical procedures inresponse to tests definedin planning stage • Ratios • Objectives KTT Operational Auditing--Spring 2012

  2. O’Brien 7 • Mission statement • Objectives • Resources • Restrictions • Processes • Organization chart • Key management biographies Operational Auditing--Spring 2012

  3. Internal Control Review • Description • Evaluation • Matrix • Objectives • Results • Risks • Mitigating Controls • Evaluation • Reassessment--Go or no go Operational Auditing--Spring 2012

  4. Evidence = Support • Auditors collect information • Evidence should be relevant, competent & sufficient • Methodology determined in advance • Supervision should be employed • Documentation should be included in working papers Operational Auditing--Spring 2012

  5. Attributes of Evidence • Relevant: consistent with objectives • Reliable: Competent • Sufficient: convincing Operational Auditing--Spring 2012

  6. Procedures Resulting in Evidence • Interviews • Recomputation (footing) • Detailed testing • Observation • Scanning • Statistical sampling • Confirmation • Analytical procedures Operational Auditing--Spring 2012

  7. Expanded Testing Purposes • Detailed review • Compliance testing • System or performance evaluation Operational Auditing--Spring 2012

  8. Expanded Testing Criteria • Directly related to the risk examined • Efficient in design • Feasible with respect to the auditors’ abilities Operational Auditing--Spring 2012

  9. Risk-Control Matrix • Results (Identified weakness) • Objective (S-C-O-R-E relationship} • Risk • Mitigating control • Evaluation Operational Auditing--Spring 2012

  10. Audit Finding Components • Condition • Criteria/Standard • Cause • Effect: Relate to 5 Control Objs. (S-C-O-R-E) • Recommendation Operational Auditing--Spring 2012

  11. Summary(Preliminary Survey – Findings) • See Summary on pps. 13-43 thru 13-46 Operational Auditing--Spring 2012

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