questions to ask during audit walkthrough
I often have clients say to me, “John is the only one who approves the purchase orders,” for example.

Subject Matter Expert (SME) from a Big 4 or other consulting firm, Review COSO’s 2013 Internal Control components, principles, and points of focus, All policies, procedure documents, and organization charts, Key reports used to manage the effectiveness, efficiency, and process success, Access to key applications used in the process, Description and listing of master data for the processes being audited, including all data fields and attributes, Outline key process steps by narrative, flowchart, or both, highlighting information inflows, outflows, and internal control components, Validate draft narratives and flowcharts with subject matter experts (if any), Create an initial pre-planning questionnaire to facilitate a pre-planning meeting with key audit customers. Chain of custody procedures must be followed; checks should not be left out of locked file cabinets during lunch breaks or after hours.

After you have disseminated the information you’ve collected, you’ll need to probe for weak spots.

We’re developing our audit plan.

If you have had issues in the past with retention or turnover, doing a complete audit can nail down the reasons why. Is the output necessary? In that vein, and HR audit is very like any risk assessment within a company, and requires an understanding of risk management to take on. Are complaints investigated and resolved in a timely manner, and are procedures in place to prevent retaliation? Screw up the plan, and we screw up the audit. It also serves to make sure that your employees understand safety measures, such as where to go during a fire drill or where to meet in case the building is locked down.

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Ensuring that this conversation occurs can help to lessen nerves and make sure that the audit is as true to daily routines as possible. For example, changes in the control environment may affect the.

Danielle Smyth is a writer and content marketer from upstate New York. When you have completed your audit, you will have a lot of information to sift through, and while that is potentially time consuming, it’s also extremely beneficial.

In these cases, no one knows the exact timing of an audit, only that they have a space of time in which one can happen.

In the long run, this can save you hours and lots of struggle trying to fix a problem. The ultimate test is when the auditor repeats the control method herself. Control frequency (e.g.

), As I listen, I write notes.


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