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Operational Auditing--Fall 20098-1 Preliminary Survey n Opening conference n Agenda n Tone & teamwork n On-site tour--MBWA n Document study n BPO analysis—O’Brien 7 n Analytical procedures in response to tests defined in planning stage n Ratios n Objectives KTT
Operational Auditing--Fall 20098-2 O’Brien 7 n Mission statement n Objectives n Resources n Restrictions n Processes n Organization chart n Key management biographies
Operational Auditing--Fall 20098-3 Internal Control Review n Description n Evaluation n Matrix n Objectives n Results n Risks n Mitigating Controls n Evaluation n Reassessment--Go or no go
Operational Auditing--Fall 20098-4 Evidence = Support n Auditors collect information n Evidence should be relevant, competent & sufficient n Methodology determined in advance n Supervision should be employed n Documentation should be included in working papers
Operational Auditing--Fall 20098-5 Attributes of Evidence n Relevant: consistent with objectives n Reliable: Competent n Sufficient: convincing
Operational Auditing--Fall 20098-6 Procedures Resulting in Evidence n Interviews n Recomputation n Detailed testing n Observation n Scanning n Statistical sampling n Confirmation n Analytical procedures
Operational Auditing--Fall 20098-7 Expanded Testing Purposes n Detailed review n Compliance testing n System or performance evaluation
Operational Auditing--Fall 20098-8 Expanded Testing Criteria n Directly related to the risk examined n Efficient in design n Feasible with respect to the auditors’ abilities
Operational Auditing--Fall 20098-9 Risk-Control Matrix n Results (Identified weakness) n Objective (S-C-O-R-E relationship} n Risk n Mitigating control n Evaluation
Operational Auditing--Fall 20098-10 Audit Finding Components n Condition n Criteria/Standard n Cause n Effect: Relate to 5 Control Objs. (S-C-O-R-E) n Recommendation
Operational Auditing--Fall 20098-11 Summary (Preliminary Survey – Findings) n See Summary on pps. 10-46 thru 10-50
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