Apex Audit System - Scheduling Issues


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APEX (Audit Planning and EXecution) is a highly customizable software product for Audit Management. APEX is a COTS- Commercial Off-the-shelf software. APEX can be used for performing Internal Audits and External Audits.

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Apex Audit System - Scheduling Issues

  1. 1. APEX Audit System<br />http://www.apexauditsystem.com<br />contact@apexauditsystem.com<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />1<br />
  2. 2. APEX Background<br />APEX is developed by SaltlakeInfosolutions Pvt. Ltd. (SIPL), an ISO 9001:2008 certified Software Development Organization based in India<br />APEX is developed by a team that includes, in addition to technical staff, domain experts experienced in Audit including Bank Auditors, Government Auditors and Statutory Auditors.<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />2<br />
  3. 3. APEX Overview<br /><ul><li>Customizable Product
  4. 4. LAN Based, with a Desktop Component
  5. 5. Audit Management System
  6. 6. Includes Risk Management Features
  7. 7. Electronic Workpapers with Audit Programs
  8. 8. Desktop Component Integrates with MS Office</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />3<br />
  9. 9. APEX Overview<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />4<br />
  10. 10. APEX Overview: Planning<br /><ul><li>Audit Staff Management
  11. 11. Auditee (Audit Entity) Management
  12. 12. Risk Assessment
  13. 13. Prioritization
  14. 14. Plan Generation</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />5<br />
  15. 15. APEX Overview: Audit Execution<br /><ul><li>Generation of Work Orders
  16. 16. Updating of Audit Status
  17. 17. Audit Work Breakdown (Audit Programs)
  18. 18. Audit Findings
  19. 19. Track Management Responses</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />6<br />
  20. 20. APEX Overview: Monitoring<br /><ul><li>View Audit Status
  21. 21. View Staff History (Audits completed in given time frame)
  22. 22. View Complete Audit History
  23. 23. View Audit Entity-wise History
  24. 24. Audit Report and Follow up information</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />7<br />
  25. 25. APEX Overview: Working Papers<br /><ul><li>Storage for Work Papers for every Audit
  26. 26. Collaborative Editing of Work Papers
  27. 27. Auditee Archive
  28. 28. Audit Documents</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />8<br />
  29. 29. APEX Overview: Forms & Workflows<br />Custom Development<br />Digitization of Standard forms used in Audit Process<br />Implementation of Form based Workflow<br />Integration of Forms with Database for Easy Retrieval<br />Digital Signatures in Forms for authentication<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />9<br />
  30. 30. Screenshots<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />10<br />
  31. 31. Screenshots<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />11<br />
  32. 32. Screenshots<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />12<br />
  33. 33. SCHEDULING & ASSOCIATED ISSUES<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />13<br />
  34. 34. Background<br /><ul><li>Audit Scheduling was implemented by SIPL (SaltlakeInfosolutions Pvt. Ltd.) at State Audit Institution, Govt. of Oman
  35. 35. Scheduling requires custom development, taking into account parameters specific to end-users</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />14<br />
  36. 36. Team Based<br /><ul><li>Audits are normally team based, with the team size depending upon the size of the task.
  37. 37. An individual auditor is also a team, of size 1.
  38. 38. Different audits conducted by the same organization may require different team sizes.</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />15<br />
  39. 39. Multi-level<br /><ul><li>An Audit Team contains of Team members of varying level of seniority
  40. 40. The team composition is based upon directive of the Audit Manual
  41. 41. e.g. – A team must include a Senior Auditor and the number of other team members depend on the size/classification of the branch</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />16<br />
  42. 42. Dynamic<br />An Audit Schedule is often dynamic, though we would wish for it to be static and unchanging!<br />Reasons why it is hard to have a static schedule:<br /><ul><li>Availability of team (unexpected leave of a team member)
  43. 43. Availability of Auditee
  44. 44. Travel, natural causes etc..
  45. 45. Other, higher priority work or reassigned to another audit</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />17<br />
  46. 46. Prioritized<br /><ul><li>Individual audits vary in priority (actually Auditee Priority)
  47. 47. High risk Auditees (Audit Entities, e.g. Branch of a Bank) are higher priority for the Audit Team
  48. 48. Auditees high in Priority are audited more frequently (number of audits) and intensively (team size and duration of audit) than lower priority auditees.</li></ul>HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />18<br />
  49. 49. Full Cycle<br />All auditees must be covered for audits, based on prioritization<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />19<br />
  50. 50. Skill Matching<br />Members of the Audit organization may have different skill sets which may have to be matched to the tasks.<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />20<br />
  51. 51. Problems with Audit Scheduling<br />The characteristics mentioned above give rise to a number of problems while creating a schedule for audits:<br />Change in Audit Schedule causes ‘Jitter’<br />Gaps between Audits because of staff availability<br />Low utilization of team because of team structure (number of members at various positions)<br />Mismatched task allocations because of availability<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />21<br />
  52. 52. How to Approach Audit Scheduling<br />Study the Audit Organization or Department<br />Understand<br /><ul><li>Prioritization
  53. 53. Tasks
  54. 54. Team Size and Composition
  55. 55. Skill Sets</li></ul>Customize the Audit Scheduling Program as per the results of the study. Ensure that the staff utilization and ‘jitter’ are at acceptablelevels.<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />22<br />
  56. 56. Thank you!<br />VISIT http://www.apexauditsystem.com for more details..<br />HTTP://WWW.APEXAUDITSYSTEM.COM<br />PHONE: +91-98315 92533<br />23<br />