BACKGROUND & PLANNING1. Obtain adequate background information on the audit area such as:· General ledger account listing· Audit reports from other audit and/or compliance groups· Productivity and performance measurement reports/stats· Financial reports/statements· Policies & Procedures· List of information technology applications utilized· List of laws and regulations2. Review policies and procedures for completeness verifying they at a minimum address compliance with laws and regulations.3. Examine productivity and performance measures for trends to assist in the developing audit scope.4. Review financial reports/statements for unusual trends/fluctuations.
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