Automating The Audit Function Presentation

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Automating The Audit Function Presentation

  1. 1. Automating the Audit Process
  2. 2. Challenges Facing Internal Audit <ul><li>Pressures on Resources </li></ul><ul><ul><li>Adding Value </li></ul></ul><ul><ul><li>Right Sizing </li></ul></ul><ul><ul><li>Outsourcing </li></ul></ul><ul><li>Cultural Changes </li></ul><ul><li>Geographic Dispersion </li></ul><ul><li>Industry Consolidation </li></ul><ul><li>Regulatory Oversight </li></ul>
  3. 3. Our Vision <ul><li>Create a Fully Integrated Process </li></ul><ul><li>Be Multi-Dimensional </li></ul><ul><ul><li>Whatever you need </li></ul></ul><ul><ul><li>Wherever you are </li></ul></ul><ul><ul><li>Whenever you want </li></ul></ul><ul><li>Provide a Single Point of Entry </li></ul>
  4. 4. The Components <ul><li>Automated Planning </li></ul><ul><li>Automated Workpapers </li></ul><ul><li>Automated Audit Tracking </li></ul><ul><li>Automated Audit Tools </li></ul>
  5. 5. Automated Audit System <ul><li>Windows-based tool: </li></ul><ul><li>Scaleable from Win95 to Win 2008 Server </li></ul><ul><li>Supports mobile teams </li></ul><ul><li>Enables more effective team work </li></ul><ul><li>Enhances productivity </li></ul>
  6. 6. Automated Audit System Components Audit Tracking Comment Tracking Regulatory Compliance Workpapers Time Keeping Audit Planning Risk Assessment Reference
  7. 7. Application Integration <ul><li>Lotus Notes </li></ul><ul><ul><li>Microsoft XP </li></ul></ul><ul><ul><li>Microsoft Excel </li></ul></ul><ul><ul><li>Microsoft Word </li></ul></ul><ul><ul><li>allCLEAR Flowcharter </li></ul></ul>
  8. 8. Connectivity Mainframe / Host Lotus Notes Database Server Auditor Workstations Shared Resources <ul><ul><ul><li>WAN </li></ul></ul></ul>Audit LAN Remote Connection VPN
  9. 9. Audit Planning <ul><li>Manager Meetings </li></ul><ul><li>Grand Round Meetings </li></ul>
  10. 10. Risk Assessment <ul><li>Risk Analysis Database </li></ul><ul><ul><li>Provides a corporate risk profile </li></ul></ul><ul><ul><li>Provides foundation for Multi-Year Audit Planning </li></ul></ul>
  11. 11. Workpapers <ul><li>Workpaper Database Template </li></ul><ul><ul><li>Standardizes the Audit Process </li></ul></ul><ul><ul><li>Provides instant access to all audit documentation </li></ul></ul><ul><ul><li>Automatically creates all “standard” audit workpapers </li></ul></ul>
  12. 12. Audit Tracking <ul><li>Audit Tracking </li></ul><ul><ul><li>Provides a single location for review of audit progress. </li></ul></ul><ul><ul><li>Simplifies monitoring audit status, budgets and deadlines. </li></ul></ul>
  13. 13. Reference <ul><ul><li>Audit Services Operations Manual </li></ul></ul><ul><ul><li>Audit Universe </li></ul></ul><ul><ul><li>Audit Programs </li></ul></ul><ul><ul><li>Audit Reports </li></ul></ul><ul><ul><li>Audit Committee Reports </li></ul></ul><ul><ul><li>Audit Time/Expense Tracking </li></ul></ul><ul><ul><li>Audit Follow-up Tracking </li></ul></ul><ul><ul><li>Audit Text/Graphics </li></ul></ul>
  14. 14. Regulatory Compliance <ul><li>FASB Pronouncements </li></ul><ul><li>GAAP & GAAS Guidelines </li></ul><ul><li>External Comments </li></ul><ul><li>Healthcare Regulations </li></ul><ul><ul><li>Medicare </li></ul></ul><ul><ul><li>HCFA </li></ul></ul><ul><ul><li>NYSDOH </li></ul></ul>
  15. 15. Tracking Report Comments <ul><li>Follow-up Tracking Database </li></ul><ul><ul><li>Ensures adequate and timely resolution of Audit Findings </li></ul></ul><ul><ul><li>Interfaces with Business Line Management </li></ul></ul>
  16. 16. Time Keeping <ul><li>Time Keeping Database </li></ul><ul><ul><li>Reports Time Allocations and Expenditures to Audits and Tracking Databases </li></ul></ul><ul><ul><li>Tracks Budgeted and Actual Time </li></ul></ul>
  17. 17. Additional Audit Databases <ul><li>Flowcharting </li></ul><ul><li>Org Chart </li></ul><ul><li>Audit Status Report </li></ul><ul><li>Audit Protocols </li></ul><ul><li>Bulletin Board </li></ul><ul><li>Audit & Healthcare News </li></ul><ul><li>Meetings </li></ul><ul><li>Corporate Policies & Procedures </li></ul><ul><li>Personnel </li></ul><ul><li>Corporate Phonebook </li></ul><ul><li>Sign-In/Out </li></ul><ul><li>Best Practices </li></ul><ul><li>GAAP & GAAS Guidelines </li></ul><ul><li>Resource Tracking </li></ul>
  18. 18. Achieved Outcomes <ul><li>Streamlined the audit process. </li></ul><ul><li>Used a risk-based approach on all audits. </li></ul><ul><li>Provided centralized management of all audits. </li></ul><ul><li>Provided electronic mail integration and consolidated reporting. </li></ul><ul><li>Summarized and share audit information. </li></ul><ul><li>Allows document review, hand off and approval from any location. </li></ul><ul><li>Tracks issues from origination through follow-up. </li></ul>
  19. 19. Auditor Assistant
  20. 20. Auditor Assistant on Lotus Notes

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