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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 Ratios Objectives. KTT. O’Brien 7. Mission statement Objectives Resources Restrictions Processes Organization chart

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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 • Ratios • Objectives KTT Operational Auditing--Spring 2009

  2. O’Brien 7 • Mission statement • Objectives • Resources • Restrictions • Processes • Organization chart • Key management biographies Operational Auditing--Spring 2009

  3. Internal Control Review • Description • Evaluation • Matrix • Objectives • Results • Risks • Controls • Evaluation • Reassessment--Go or no go Operational Auditing--Spring 2009

  4. Evidence = Support • Auditors collect information • Evidence should be sufficient, competent, relevant & useful • Methodology determined in advance • Supervision should be employed • Documentation should be included in working papers Operational Auditing--Spring 2009

  5. Attributes of Evidence • Sufficient: convincing • Competent: reliable • Relevant: consistent with objectives • Useful: goal oriented Operational Auditing--Spring 2009

  6. Types of Evidence Based on Procedure • Interviews • Recomputation • Detailed testing • Observation • Scanning • Statistical sampling • Confirmation • Analytical procedures Operational Auditing--Spring 2009

  7. Expanded Testing Purposes • Detailed review • Compliance testing • System or performance evaluation Operational Auditing--Spring 2009

  8. Expanded Testing Criteria • Directly related to the risk examined • Efficient in design • Feasible with respect to the auditors’ abilities Operational Auditing--Spring 2009

  9. Risk-Control Matrix • Identified weakness • S-C-O-R-E relationship • Risk • Mitigating control • Evaluation Operational Auditing--Spring 2009

  10. Audit Finding Components • Condition • Criteria/Standard • Effect: Relate to 5 Control Objs. • Cause • Recommendation Operational Auditing--Spring 2009

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