Challenges

  • Develop standards for documentation, testing and reporting testing status and testing results across the business lines
  • Provide a mechanism to report identified exceptions for evaluation and remediation requirements
  • Timing of test procedures and liaising with process owners

The Approach

  • Identifying and evaluating the organization’s risk areas and providing input into the development of the annual audit plan
  • Performing audit procedures, including identifying and defining issues, conducting testing, and concluding on testing results
  • Conducting interviews and walkthroughs, reviewing documents and evidence, and preparing working papers
  • Identifying, developing and documenting audit issues and recommendations using independent judgment concerning areas being reviewed
  • Communicating the results of audit results via written reports and verbal presentations to management
  • Working with the internal audit group to perform internal control procedures, understanding and documenting client processes and procedures, identifying and defining issues, conducting testing, and concluding on testing results

Accomplishments

  • Ability to access the deficiencies across the business and place checks and balances
  • Assessed potential and likelihood of misstatement of various errors
  • Identified compensating controls to mitigate the risks

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