1. Internal Control Testing

2. IRP APM 502 Walk through the system Determine degree of reliance Strengths and Weaknesses Document the review / test –System changes –What records maintained –Are controls functioning –Who reviews supporting documentation

3. IFTA Audit Manual A640 Similar to IRP –Determine transaction flow –Do controls permit reliance –Report on Weaknesses –Review System changes Identify the records the licensee keeps Trace a few records through the system Is there pre-auditing of support documents

4. Documenting in Audit File IFTA and IRP list three methods –Questionnaire –Flow chart –Narrative

5. In the next 20 minutes… Review sample documents Complete questionnaire at your table