The document discusses audit and inspection in the context of local authorities in England. It summarizes the key findings of a 2019 parliamentary report on the topic. The report found that the 2014 Local Audit and Accountability Act fragmented accountability and that the new audit regime is not as effective as the previous Audit Commission in ensuring value for money and fairness. It also discusses limitations of audits and inspections in improving outcomes and ensuring food safety. The document covers the purpose and goals of public audits, inspector independence, the impact of changing regulations, and ways auditing could be improved.
Quality Audit in pharmaceutical industryHari Haran
It deals with the understanding and process for auditing
pharmaceutical industries. This covers the methodology involved in auditing process of different in pharmaceutical industries.
The audit process involves 6 phases:
1) Preliminary planning
2) Pre-survey
3) Survey
4) Data collection and analysis
5) Reporting
6) Postaudit evaluation
The objective of an audit is to enable the auditor to express an opinion on whether the financial statements are prepared in accordance with the applicable financial reporting framework. The scope of an audit determines the audit procedures necessary to achieve the audit's objective.
This document discusses pharmaceutical audits. It defines audits and describes their purpose in ensuring quality compliance. The document outlines the types of audits, including internal, external, and regulatory audits. It discusses the objectives, management, responsibilities, planning process, and information gathering aspects of conducting pharmaceutical audits. The overall purpose of audits is to evaluate quality systems and processes and ensure they meet requirements for continuous improvement.
Audit and Inspection in Clinical ResearchClinosolIndia
Audit and inspection are two critical components of quality assurance in the pharmaceutical industry. Both are essential for ensuring compliance with regulatory requirements and for identifying areas where improvements can be made in quality systems.
An audit is a systematic and independent examination of a company's quality system to determine whether it meets the requirements of applicable regulations and standards. The audit process involves reviewing documentation, procedures, and practices to identify potential areas of non-compliance and areas for improvement. The audit can be internal, where a company audits its own quality system, or external, where an independent third-party audits the quality system.
Inspection, on the other hand, is a regulatory process conducted by government authorities to ensure that a company's quality system is compliant with regulations and standards. The inspection process involves a review of a company's facilities, procedures, and documentation to determine whether they meet regulatory requirements. Inspections may be conducted on a routine basis or may be triggered by specific events, such as a product recall or a serious adverse event.
During an audit or inspection, the auditors or inspectors will typically review a range of documents and processes, including:
Standard operating procedures (SOPs) for quality control and quality assurance
Documentation of manufacturing processes and quality control testing
Personnel training records and qualifications
Equipment and facility maintenance and cleaning records
Complaint and deviation handling procedures
Batch records and release testing
The goal of an audit or inspection is to identify any deficiencies in the quality system that could impact product quality or patient safety. Depending on the severity of any non-compliance identified, regulatory action may be taken, such as issuing a warning letter or suspending a company's manufacturing license.
Overall, audits and inspections play a critical role in ensuring the safety, efficacy, and quality of pharmaceutical products, and are an essential part of the regulatory process for the pharmaceutical industry.
This document is a research report submitted by Atiq Been Rahim to his lecturer Suman Paul Chowdhury at BRAC University regarding determining audit fees. The report includes an introduction, acknowledgements, executive summary, table of contents, and sections on the introduction, audit types and objectives, current status of audit fees in Bangladesh, determinants of audit fees, and a comparative analysis of audit fees for different sectors and firm sizes. It analyzes factors that influence what an audit firm charges as fees and compares fees across industries and company sizes.
The Health Finance and Governance (HFG) Project organized a multi-country workshop to support policymakers from public health and finance agencies in developing concrete action plans for mobilizing domestic resources for health. This presentation on the HFG toolkit addresses gaps in the Ministry of Health and Ministry of Finance relationship. The toolkit presents a set of strategies, self assessment methodologies and performance management processes to help the MOH better manage their own resources and to help foster more effective coordination between the MOH and the MOF.
Quality Audit in pharmaceutical industryHari Haran
It deals with the understanding and process for auditing
pharmaceutical industries. This covers the methodology involved in auditing process of different in pharmaceutical industries.
The audit process involves 6 phases:
1) Preliminary planning
2) Pre-survey
3) Survey
4) Data collection and analysis
5) Reporting
6) Postaudit evaluation
The objective of an audit is to enable the auditor to express an opinion on whether the financial statements are prepared in accordance with the applicable financial reporting framework. The scope of an audit determines the audit procedures necessary to achieve the audit's objective.
This document discusses pharmaceutical audits. It defines audits and describes their purpose in ensuring quality compliance. The document outlines the types of audits, including internal, external, and regulatory audits. It discusses the objectives, management, responsibilities, planning process, and information gathering aspects of conducting pharmaceutical audits. The overall purpose of audits is to evaluate quality systems and processes and ensure they meet requirements for continuous improvement.
Audit and Inspection in Clinical ResearchClinosolIndia
Audit and inspection are two critical components of quality assurance in the pharmaceutical industry. Both are essential for ensuring compliance with regulatory requirements and for identifying areas where improvements can be made in quality systems.
An audit is a systematic and independent examination of a company's quality system to determine whether it meets the requirements of applicable regulations and standards. The audit process involves reviewing documentation, procedures, and practices to identify potential areas of non-compliance and areas for improvement. The audit can be internal, where a company audits its own quality system, or external, where an independent third-party audits the quality system.
Inspection, on the other hand, is a regulatory process conducted by government authorities to ensure that a company's quality system is compliant with regulations and standards. The inspection process involves a review of a company's facilities, procedures, and documentation to determine whether they meet regulatory requirements. Inspections may be conducted on a routine basis or may be triggered by specific events, such as a product recall or a serious adverse event.
During an audit or inspection, the auditors or inspectors will typically review a range of documents and processes, including:
Standard operating procedures (SOPs) for quality control and quality assurance
Documentation of manufacturing processes and quality control testing
Personnel training records and qualifications
Equipment and facility maintenance and cleaning records
Complaint and deviation handling procedures
Batch records and release testing
The goal of an audit or inspection is to identify any deficiencies in the quality system that could impact product quality or patient safety. Depending on the severity of any non-compliance identified, regulatory action may be taken, such as issuing a warning letter or suspending a company's manufacturing license.
Overall, audits and inspections play a critical role in ensuring the safety, efficacy, and quality of pharmaceutical products, and are an essential part of the regulatory process for the pharmaceutical industry.
This document is a research report submitted by Atiq Been Rahim to his lecturer Suman Paul Chowdhury at BRAC University regarding determining audit fees. The report includes an introduction, acknowledgements, executive summary, table of contents, and sections on the introduction, audit types and objectives, current status of audit fees in Bangladesh, determinants of audit fees, and a comparative analysis of audit fees for different sectors and firm sizes. It analyzes factors that influence what an audit firm charges as fees and compares fees across industries and company sizes.
The Health Finance and Governance (HFG) Project organized a multi-country workshop to support policymakers from public health and finance agencies in developing concrete action plans for mobilizing domestic resources for health. This presentation on the HFG toolkit addresses gaps in the Ministry of Health and Ministry of Finance relationship. The toolkit presents a set of strategies, self assessment methodologies and performance management processes to help the MOH better manage their own resources and to help foster more effective coordination between the MOH and the MOF.
Rapport_Task Reallocation and cost prices_def_eng-GBArjan Kouwen
a professional who carries out tasks under the responsibility of another professional.
Substitution: the transfer of (part of) the tasks of one professional group to another professional group.
Job differentiation: the division of tasks between different professional groups.
Task reallocation: the transfer of (part) of the tasks of one professional group to another professional group.
In this research, the terms task reallocation and job differentiation are used interchangeably. The focus is on the
transfer of tasks from the medical specialist to the physician assistant or nursing specialist.
Medical specialist: a physician who, after a six-year university base study, has specialised in an organ (system) or a part
or field thereof.
Why is it important to assist your client in the audit process and how can it impact you?
Assisting clients with the audit firm selection process can be an opportunity to add value to your client relationship
Vetting plan audit firms and correspondence may lead to valuable referral relationships
Save clients from the possible risk of fines and penalties
Possible co-fiduciary responsibility in selecting other plan service providers
How to develop a proactive approach for assisting clients with the audit process
This document discusses pharmaceutical quality audits. It begins by defining quality audits and their purpose in verifying quality management systems and identifying areas for improvement. It then describes the three main types of quality audits: internal audits conducted within a company, external audits conducted by customers on suppliers, and regulatory audits conducted by independent bodies. The document outlines the objectives, management, responsibilities, planning process, information gathering techniques, administration, and classification of deficiencies for quality audits. It concludes that quality audits can benefit companies by evaluating quality systems and determining if processes and products meet requirements.
The document discusses best practices for internal auditing in government organizations. It defines best practices as the most efficient and effective methods for accomplishing tasks based on proven successful procedures. An effective internal audit function is a key component of good governance and can improve accountability, decision-making, and performance. Best practices for internal auditing in government include risk-based audit planning, timely reporting, grading audit findings by level of criticality, and rigorous follow-up processes to ensure issues are addressed. Maintaining independence, developing codes of conduct, and establishing audit committees are also important aspects of internal auditing best practices.
1. The document discusses social compliance audits and codes of conduct audits, outlining key concepts such as the purpose of audits, auditor roles and responsibilities, and audit types and strategies.
2. It explains that social compliance audits systematically and independently assess facilities against standards to determine if requirements are being met.
3. Effective audits are planned, independent, have management cooperation, and have a compliance orientation to evaluate implementation of standards.
This document discusses quality assurance and auditing. It defines quality assurance and audits, and outlines the key aspects of structuring an audit program including planning, performing, and reporting on audits. It discusses auditing specific activities, functions, product lines, and quality systems. It also covers quality surveys to assess overall quality performance, standards, and culture. Product audits and sampling for product audits are mentioned.
The depth and scope of examination, time of audit, processing methods, etc. In deciding on a specific technique, also need to take account of the objective of the audit action and the capacities limited by time or other factors.
An audit is a systematic process of objectively obtaining and evaluating evidence regarding financial statement assertions to determine if they are in accordance with established criteria. The auditor ascertains if assertions about economic actions and events, such as existence, completeness, and valuation of assets and liabilities, are fairly presented. An independent audit provides reasonable assurance of the reliability of financial statements and helps ensure management has fulfilled its responsibility to adopt proper controls and prepare accurate reports.
This document discusses community health audits and sanctions. It defines nursing audits as a review of patient records to assess quality of care using established criteria. Audits can be internal or external. The goals of community health audits are to monitor programs, identify errors/frauds, provide advice on weaknesses, and improve efficiency. Regular audits of health records, finances, vaccines, stocks and more are important. The audit process involves identifying issues, establishing standards, collecting data, analyzing results, implementing changes, and re-auditing. Types of audits include retrospective, concurrent, and quality/process/structure audits. Community health committees oversee audits and ensure standards are met.
There are five main pillars considered critical for building an effective internal audit function in the public sector: perception and ownership, improved processes and governance, legislative support, improved incentives, and commitment to change. Internal auditing has shifted from simply ensuring compliance to adding value by reviewing management procedures and focusing on efficiency and effectiveness, though this requires changes to culture and priorities. Factors like independence, understanding organizational issues, responsiveness, and implementing recommendations impact the internal audit function's effectiveness.
The document discusses the final stages of an audit, including assembling audit evidence, evaluating results, communicating findings, and completing the audit. It notes that auditors must evaluate audit evidence objectively, draft reports to communicate issues and conclusions, and ensure quality control procedures are followed to complete the audit properly. Post-audit responsibilities involve monitoring corrective actions, reviewing for subsequent events, and retaining workpapers for the required retention period.
The document summarizes new compliance guidance from the Office of Inspector General (OIG) for healthcare organization boards of directors. The guidance addresses expectations for the relationships between audit, compliance, and legal departments; mechanisms for internal issue reporting; identifying regulatory risks; and encouraging enterprise-wide accountability. It recommends that boards understand the guidance and invest resources to properly oversee compliance programs through policies and procedures, training, auditing, and regular reporting. Following the guidance can help boards meet their responsibilities, though there is no single approach and healthcare compliance remains challenging.
This document provides an overview of mystery audits. It defines a mystery audit as an audit conducted without the auditee's knowledge to anonymously assess factors like customer service quality. Mystery auditors complete questionnaires on their impressions to identify improvement areas. Mystery audits provide independent examinations of internal practices and customer perspectives. They can also evaluate employee productivity when conducted without employee awareness. The document outlines the mystery audit process and discusses benefits for service organizations and users. It provides a sample mystery audit questionnaire for multiplex cinemas.
This document contains questions and answers about auditing processes and quality systems. It discusses the different types of audits, defines audit evidence and lists factors that affect audit evidence reliability. It explains the audit process steps and defines nonconformities, classifying them into critical, major and minor types with examples. It also lists the elements of a quality system, discussing management responsibilities. Other questions cover cGMP regulations regarding premises, personnel, equipment and raw materials, packaging and labeling controls. Quality system elements like manufacturing operations and evaluation activities are also explained.
This document discusses quality auditing in the pharmaceutical industry. It defines quality auditing and explains that it involves systematically examining quality systems to determine compliance. The document outlines different types of audits including internal, external, regulatory, product, process, and system audits. It discusses planning, conducting, and reporting on audits. The key objectives of audits are to ensure quality, assess effectiveness of quality assurance systems, and permit timely correction of any issues. Audits help build confidence in quality management practices and identify areas for improvement.
1. Major failure of BK&D CPAs are as follows-a. Portions of the r.pdfviji4laxmi
1. Major failure of BK&D CPAs are as follows:-
a. Portions of the report by PCAOB may describe deficiencies or potential deficiencies in the
systems, policies, procedures, practices, or conduct of the firm that is the subject of this report.
The express inclusion of certain deficiencies and potential deficiencies, however, should not be
construed to support any negative inference that any other aspect of the firm\'s systems, policies,
procedures, practices, or conduct is approved or condoned by the Board or judged by the Board
to comply with laws, rules, and professional standards.
b. Any references in this report to violations or potential violations of law, rules, or professional
standards should be understood in the supervisory context in which this report was prepared.
Any such references are not a result of an adversarial adjudicative process and do not constitute
conclusive findings of fact or of violations for purposes of imposing legal liability. Similarly, any
description herein of a firm\'s cooperation in addressing issues constructively should not be
construed, and is not construed by the Board, as an admission, for purposes of potential legal
liability, of any violation.
c. Board inspections encompass, among other things, whether the firm has failed to identify
financial statement misstatements, including failures to comply with Securities and Exchange
Commission (\"SEC\" or \"Commission\") disclosure requirements, in its audits of financial
statements. This report\'s descriptions of any such auditing failures necessarily involve
descriptions of the apparent misstatements or disclosure departures. The Board, however, has no
authority to prescribe the form or content of an issuer\'s financial statements. That authority, and
the authority to make binding determinations concerning whether an issuer\'s financial
statements are misstated or fail to comply with Commission disclosure requirements, rests with
the Commission. Any description, in this report, of financial statement misstatements or failures
to comply with Commission disclosure requirements should not be understood as an indication
that the Commission has considered or made any determination regarding these issues unless
otherwise expressly stated.
2. Analytical procedures are one of many financial audit processes which help an auditor
understand the client\'s business and changes in the business, and to identify potentialrisk areas
to plan other audit procedures.
The objective of analytical procedures used in the overall review stage
of the audit is to assist the auditor in assessing the conclusions reached and in
the evaluation of the overall financial statement presentation. A wide variety of
analytical procedures may be useful for this purpose. The overall review would
generally include reading the financial statements and notes and considering
(a) the adequacy of evidence gathered in response to unusual or unexpected
balances identified in planning the audit or in the c.
Performance audit has a long story in many countries to oversee the programme or activity carried out by the public agencies to manage the resource in an efficient and economical manner and the programme are carried out effectively and managed to give a positive impact to the target group. In Malaysia, performance audit has started way back since the 1990’s but the approach at that time whereby certain criteria and aspects are not complicated as compared to this day. Performance audit from time to time are also affected by the government policy and the development of the ICT.
The document discusses the differences between performance auditing and financial auditing. Performance auditing examines the economy, efficiency, and effectiveness of an organization, assessing if resources are being used appropriately and if the organization is achieving its objectives. Financial auditing focuses on ensuring financial statements are accurate and that the organization is complying with accounting standards and regulations. Some key differences highlighted are that performance auditing evaluates if targets are being met and makes recommendations for improvement, while financial auditing does not.
The document discusses internal audit practices at commercial banks in Kenya, using Kenya Commercial Bank as a case study. It begins with background on internal auditing and its importance in assessing risks, compliance, and improving operations. The research aims to evaluate the effects of internal audit practices on financial performance of commercial banks. Specifically, it will examine factors like audit planning, skills/training, resources, and methods to understand their impact on a bank's profitability, asset quality, and other performance metrics. The study employs a mixed methodology, collecting both quantitative and qualitative data from internal audit reports, financial statements, and interviews. The results will provide insights on strengthening internal audit functions at banks for better financial and risk management outcomes.
Heritage Conservation.Strategies and Options for Preserving India HeritageJIT KUMAR GUPTA
Presentation looks at the role , relevance and importance of built and natural heritage, issues faced by heritage in the Indian context and options which can be leveraged to preserve and conserve the heritage.It also lists the challenges faced by the heritage due to rapid urbanisation, land speculation and commercialisation in the urban areas. In addition, ppt lays down the roadmap for the preservation, conservation and making value addition to the available heritage by making it integral part of the planning , designing and management of the human settlements.
Rapport_Task Reallocation and cost prices_def_eng-GBArjan Kouwen
a professional who carries out tasks under the responsibility of another professional.
Substitution: the transfer of (part of) the tasks of one professional group to another professional group.
Job differentiation: the division of tasks between different professional groups.
Task reallocation: the transfer of (part) of the tasks of one professional group to another professional group.
In this research, the terms task reallocation and job differentiation are used interchangeably. The focus is on the
transfer of tasks from the medical specialist to the physician assistant or nursing specialist.
Medical specialist: a physician who, after a six-year university base study, has specialised in an organ (system) or a part
or field thereof.
Why is it important to assist your client in the audit process and how can it impact you?
Assisting clients with the audit firm selection process can be an opportunity to add value to your client relationship
Vetting plan audit firms and correspondence may lead to valuable referral relationships
Save clients from the possible risk of fines and penalties
Possible co-fiduciary responsibility in selecting other plan service providers
How to develop a proactive approach for assisting clients with the audit process
This document discusses pharmaceutical quality audits. It begins by defining quality audits and their purpose in verifying quality management systems and identifying areas for improvement. It then describes the three main types of quality audits: internal audits conducted within a company, external audits conducted by customers on suppliers, and regulatory audits conducted by independent bodies. The document outlines the objectives, management, responsibilities, planning process, information gathering techniques, administration, and classification of deficiencies for quality audits. It concludes that quality audits can benefit companies by evaluating quality systems and determining if processes and products meet requirements.
The document discusses best practices for internal auditing in government organizations. It defines best practices as the most efficient and effective methods for accomplishing tasks based on proven successful procedures. An effective internal audit function is a key component of good governance and can improve accountability, decision-making, and performance. Best practices for internal auditing in government include risk-based audit planning, timely reporting, grading audit findings by level of criticality, and rigorous follow-up processes to ensure issues are addressed. Maintaining independence, developing codes of conduct, and establishing audit committees are also important aspects of internal auditing best practices.
1. The document discusses social compliance audits and codes of conduct audits, outlining key concepts such as the purpose of audits, auditor roles and responsibilities, and audit types and strategies.
2. It explains that social compliance audits systematically and independently assess facilities against standards to determine if requirements are being met.
3. Effective audits are planned, independent, have management cooperation, and have a compliance orientation to evaluate implementation of standards.
This document discusses quality assurance and auditing. It defines quality assurance and audits, and outlines the key aspects of structuring an audit program including planning, performing, and reporting on audits. It discusses auditing specific activities, functions, product lines, and quality systems. It also covers quality surveys to assess overall quality performance, standards, and culture. Product audits and sampling for product audits are mentioned.
The depth and scope of examination, time of audit, processing methods, etc. In deciding on a specific technique, also need to take account of the objective of the audit action and the capacities limited by time or other factors.
An audit is a systematic process of objectively obtaining and evaluating evidence regarding financial statement assertions to determine if they are in accordance with established criteria. The auditor ascertains if assertions about economic actions and events, such as existence, completeness, and valuation of assets and liabilities, are fairly presented. An independent audit provides reasonable assurance of the reliability of financial statements and helps ensure management has fulfilled its responsibility to adopt proper controls and prepare accurate reports.
This document discusses community health audits and sanctions. It defines nursing audits as a review of patient records to assess quality of care using established criteria. Audits can be internal or external. The goals of community health audits are to monitor programs, identify errors/frauds, provide advice on weaknesses, and improve efficiency. Regular audits of health records, finances, vaccines, stocks and more are important. The audit process involves identifying issues, establishing standards, collecting data, analyzing results, implementing changes, and re-auditing. Types of audits include retrospective, concurrent, and quality/process/structure audits. Community health committees oversee audits and ensure standards are met.
There are five main pillars considered critical for building an effective internal audit function in the public sector: perception and ownership, improved processes and governance, legislative support, improved incentives, and commitment to change. Internal auditing has shifted from simply ensuring compliance to adding value by reviewing management procedures and focusing on efficiency and effectiveness, though this requires changes to culture and priorities. Factors like independence, understanding organizational issues, responsiveness, and implementing recommendations impact the internal audit function's effectiveness.
The document discusses the final stages of an audit, including assembling audit evidence, evaluating results, communicating findings, and completing the audit. It notes that auditors must evaluate audit evidence objectively, draft reports to communicate issues and conclusions, and ensure quality control procedures are followed to complete the audit properly. Post-audit responsibilities involve monitoring corrective actions, reviewing for subsequent events, and retaining workpapers for the required retention period.
The document summarizes new compliance guidance from the Office of Inspector General (OIG) for healthcare organization boards of directors. The guidance addresses expectations for the relationships between audit, compliance, and legal departments; mechanisms for internal issue reporting; identifying regulatory risks; and encouraging enterprise-wide accountability. It recommends that boards understand the guidance and invest resources to properly oversee compliance programs through policies and procedures, training, auditing, and regular reporting. Following the guidance can help boards meet their responsibilities, though there is no single approach and healthcare compliance remains challenging.
This document provides an overview of mystery audits. It defines a mystery audit as an audit conducted without the auditee's knowledge to anonymously assess factors like customer service quality. Mystery auditors complete questionnaires on their impressions to identify improvement areas. Mystery audits provide independent examinations of internal practices and customer perspectives. They can also evaluate employee productivity when conducted without employee awareness. The document outlines the mystery audit process and discusses benefits for service organizations and users. It provides a sample mystery audit questionnaire for multiplex cinemas.
This document contains questions and answers about auditing processes and quality systems. It discusses the different types of audits, defines audit evidence and lists factors that affect audit evidence reliability. It explains the audit process steps and defines nonconformities, classifying them into critical, major and minor types with examples. It also lists the elements of a quality system, discussing management responsibilities. Other questions cover cGMP regulations regarding premises, personnel, equipment and raw materials, packaging and labeling controls. Quality system elements like manufacturing operations and evaluation activities are also explained.
This document discusses quality auditing in the pharmaceutical industry. It defines quality auditing and explains that it involves systematically examining quality systems to determine compliance. The document outlines different types of audits including internal, external, regulatory, product, process, and system audits. It discusses planning, conducting, and reporting on audits. The key objectives of audits are to ensure quality, assess effectiveness of quality assurance systems, and permit timely correction of any issues. Audits help build confidence in quality management practices and identify areas for improvement.
1. Major failure of BK&D CPAs are as follows-a. Portions of the r.pdfviji4laxmi
1. Major failure of BK&D CPAs are as follows:-
a. Portions of the report by PCAOB may describe deficiencies or potential deficiencies in the
systems, policies, procedures, practices, or conduct of the firm that is the subject of this report.
The express inclusion of certain deficiencies and potential deficiencies, however, should not be
construed to support any negative inference that any other aspect of the firm\'s systems, policies,
procedures, practices, or conduct is approved or condoned by the Board or judged by the Board
to comply with laws, rules, and professional standards.
b. Any references in this report to violations or potential violations of law, rules, or professional
standards should be understood in the supervisory context in which this report was prepared.
Any such references are not a result of an adversarial adjudicative process and do not constitute
conclusive findings of fact or of violations for purposes of imposing legal liability. Similarly, any
description herein of a firm\'s cooperation in addressing issues constructively should not be
construed, and is not construed by the Board, as an admission, for purposes of potential legal
liability, of any violation.
c. Board inspections encompass, among other things, whether the firm has failed to identify
financial statement misstatements, including failures to comply with Securities and Exchange
Commission (\"SEC\" or \"Commission\") disclosure requirements, in its audits of financial
statements. This report\'s descriptions of any such auditing failures necessarily involve
descriptions of the apparent misstatements or disclosure departures. The Board, however, has no
authority to prescribe the form or content of an issuer\'s financial statements. That authority, and
the authority to make binding determinations concerning whether an issuer\'s financial
statements are misstated or fail to comply with Commission disclosure requirements, rests with
the Commission. Any description, in this report, of financial statement misstatements or failures
to comply with Commission disclosure requirements should not be understood as an indication
that the Commission has considered or made any determination regarding these issues unless
otherwise expressly stated.
2. Analytical procedures are one of many financial audit processes which help an auditor
understand the client\'s business and changes in the business, and to identify potentialrisk areas
to plan other audit procedures.
The objective of analytical procedures used in the overall review stage
of the audit is to assist the auditor in assessing the conclusions reached and in
the evaluation of the overall financial statement presentation. A wide variety of
analytical procedures may be useful for this purpose. The overall review would
generally include reading the financial statements and notes and considering
(a) the adequacy of evidence gathered in response to unusual or unexpected
balances identified in planning the audit or in the c.
Performance audit has a long story in many countries to oversee the programme or activity carried out by the public agencies to manage the resource in an efficient and economical manner and the programme are carried out effectively and managed to give a positive impact to the target group. In Malaysia, performance audit has started way back since the 1990’s but the approach at that time whereby certain criteria and aspects are not complicated as compared to this day. Performance audit from time to time are also affected by the government policy and the development of the ICT.
The document discusses the differences between performance auditing and financial auditing. Performance auditing examines the economy, efficiency, and effectiveness of an organization, assessing if resources are being used appropriately and if the organization is achieving its objectives. Financial auditing focuses on ensuring financial statements are accurate and that the organization is complying with accounting standards and regulations. Some key differences highlighted are that performance auditing evaluates if targets are being met and makes recommendations for improvement, while financial auditing does not.
The document discusses internal audit practices at commercial banks in Kenya, using Kenya Commercial Bank as a case study. It begins with background on internal auditing and its importance in assessing risks, compliance, and improving operations. The research aims to evaluate the effects of internal audit practices on financial performance of commercial banks. Specifically, it will examine factors like audit planning, skills/training, resources, and methods to understand their impact on a bank's profitability, asset quality, and other performance metrics. The study employs a mixed methodology, collecting both quantitative and qualitative data from internal audit reports, financial statements, and interviews. The results will provide insights on strengthening internal audit functions at banks for better financial and risk management outcomes.
Heritage Conservation.Strategies and Options for Preserving India HeritageJIT KUMAR GUPTA
Presentation looks at the role , relevance and importance of built and natural heritage, issues faced by heritage in the Indian context and options which can be leveraged to preserve and conserve the heritage.It also lists the challenges faced by the heritage due to rapid urbanisation, land speculation and commercialisation in the urban areas. In addition, ppt lays down the roadmap for the preservation, conservation and making value addition to the available heritage by making it integral part of the planning , designing and management of the human settlements.
1. DEPARTMENT OF DAIRY SCIENCE AND
FOOD TECHNOLOGY
INSTITUTE OF AGRICULTURAL SCIENCES
(IAS)
BHU, VARANASI
Topic- Audit and Inspection.
PRESENTED BY:-
Upendra Singh
M.Tech Dairy Technology
22412MDT017
2. Introduction.
Why do we need quality assurance ?
Who should be involved in the QA process ?
Audit and inspection.
How to prepare for an audit ?
Major Mistakes & Problems Mistakes.
Alternative System of Inspection and Audit ?
Local Audit and Accountability Act 2014.
Role of Audits in Food Safety.
Limitations of Audits.
Improving Audits & Inspections.
3. It is important there are appropriate audit and inspection
arrangements in place.
For the purpose of this report public audit refers to
financial audit providing an opinion on financial accounts
and whether Value for Money (VfM) arrangements are in
place.
Audit and inspection are often seen as inter-related with
inspection an extension of audit into performance.
District Audit Service was set up in 1844, originally as
part of the Treasury, to ensure probity and proper
stewardship of public money.
4. The sponsor is responsible for implementing and
maintaining quality assurance & quality control systems
with written SOPs.
To insure that trials are conducted & data are generated,
documented (recorded) in compliance with protocol, GCP
& applicable regulatory requirements.
The sponsor is responsible for securing agreement from
all involved parties to ensure direct access.
All trial related sites, source data/documents & reports
for the purpose of monitoring and auditing by the
sponsor & inspection by domestic & foreign regulatory
authorities. ICH GCP 1997
5.
6. Audit
The independent, systematic action to ensure the quality
of study data generated, is accurate reliability, and right is
protected and followed GCP, SOPs & applications in the
country.
Inspection act by a regularities of conducting an official
review of documents, records and any other resources
that are deemed by the authority.
Support regulatory authority decision
Safety, Validity of data, regulatory compliance etc.
When the data from the trial will be used for authority
approval.
7. Should start from the beginning of the study.
Ensure that we have the documents to prove that study
has been conducted properly.
(According to ICH-GCP, Local regulation, Institution SOP)
All Party understand the protocol procedure.
Any concern raised by any party should be documented.
Third-party audits are relied upon within a single
company or supply chain for a number of reasons. For
some, it is a genuine desire to improve food safety, quality
and sanitation.
8. Misconduct of the study-
- Study not being approved.
- Major protocol violation.
- Fraud data.
Cause loss of reputation of investigator/ institute.
Loss of reputation of sponsor.
Withdrawal, termination of product license.
Auditor’s job is to find mistake !
Don’t arrange or make up, he/she will find anyway.
Too good to be true when everything is perfect.
As long as the mistake is minor & acceptable.
9. It is possible, I believe, to devise a method of audit and
inspection that is committed to the achievement of
common agreed standards.
It would be possible, however, to achieve a consensus
about what basic standards should be - even about
desirable improvements in these over time - that would
not divide the inspected from inspectors.
The government has to some degree moved towards such
an acknowledgement in its advocacy of specialist schools
and even foundation hospitals, though it is clear that
other purposes, favouring not only difference but also
enhanced stratification and ranking.
10. One of the purposes of inspectors would be, in
consultancy or facilitation mode, to assist and catalyse
this process, from their own knowledge and experience.
Audits would be required first to report on how far
institutions met basic objectives.
A process of inspection and audit which encourages
innovation and discovery might, one would hope, have
some effects all the way down on the habits of
managements, staff, and pupils and clients themselves.
Much stress is now laid by government on
responsiveness to customers and customer-satisfaction
as criteria of good practice and good governance.
11. Section 1 - Main Finding.
Section 2 - Evaluation of the new audit regime and Audit Commission
abolition.
Section 3 - Fragmentation of public sector audit regulatory space and
accountability under the new audit regime.
Section 4 - Auditor independence.
Section 5 - Audit scope.
Section 6 - Inspection and improving services.
Section 7 - Competition in the audit market and audit fees.
Section 8 - Implications for accountability and democracy, and
Section 9 - Conclusions.
12. Section 1 - Main Finding-
The main finding of this report is that public audit should,
and should be seen to, serve the public interest.
Public audit is not just another professional service.
The audit and inspection system is not broken in terms of
what it does, but the question is whether it does the right
thing.
Currently, for local government, it is known what local
authorities.
13. Section 2 - Evaluation of the new audit regime
and Audit Commission abolition-
It is important that there is post-legislative scrutiny of the
Local Audit and Accountability Act 2014 to ensure the
new audit and inspection regime is fit for purpose,
together with an evaluation of the business case for Audit
Commission abolition.
Outside of post-legislative scrutiny, a broader review of
the financial sustainability of local government (and
other local public bodies in general) should consider the
impact and implications arising from the new regime for
audit and accountability arrangements.
14. Section 3 - Fragmentation of public sector audit
regulatory space and accountability under the new
audit regime-
The new audit regime is more fragmented compared to
the Audit Commission.
However, in passing the Local Audit and Accountability
Act 2014, Parliament deliberately wanted to separate
functions.
If a separate body was established should it cover all
public bodies, only local public bodies.
This would cut across central government departments
and so need wide support.
15. Section 4 - Auditor independence-
As a principle to uphold auditor independence, local
authorities should not be able to appoint their own
auditors.
The public interest is for the auditors to represent the
public and not the officers and councillors of a local
authority.
The principle of independent appointment of auditors
for all local bodies was breached under the new local
audit regime.
In practice, however, most local authorities adopted the
central procurement arrangements of the PSAA.
16. Section 5 - Audit scope-
The Audit Commission had both audit and inspection
elements to their regime.
The additional responsibilities around inspection
extended the auditors work to give a qualitative
assessment that led to rankings and league tables.
This led to the perception of the Audit Commission
being a regulator and not merely an auditor.
This led to the perception of the Audit Commission
being a regulator and not merely an auditor.
17. Section 6 - Inspection and improving services-
However, contrary to popular belief, the inspection and
intervention were never part of the audit, but a separate
function that has ceased.
The sector-led approach of the LGA is there as a
voluntary means of the sector improving itself and is not
designed to be a substitute for the Audit Commission
inspection process.
The MHCLG should not therefore attach too much weight
on that in the accountability system.
18. Section 7 - Competition in the audit market and
audit fees-
The new audit regime has failed to increase audit market
competition for local government.
The cost of the new audit regime and audit fees are lower
reflecting reduction in audit.
scope, changes in activity and procurement efficiencies,
but benefits have also been lost.
The quality component of the procurement bid process
should be higher.
Staff training and technology.
19. Section 8 - Implications for accountability and
democracy-
Arrangements for local people to be informed about VfM
and fairness are not in place.
The new audit regime provides an opinion on financial
audit and conclusion on whether VfM arrangements were
in place.
However, it does not say if there was delivery of VfM or if
fairness has been achieved.
This is something that is lost from an accountability and
democracy perspective under the new local audit regime.
20. The popularity of third-party audits has increased
corresponding to a shift in food safety governance away from
government regulation and inspection toward the
development of private food safety standards.
(Busch, 2011).
There are many different food safety standards available
to food producers and manufacturers even within a single
industry segment.
Third-party audits are relied upon within a single
company or supply chain for a number of reasons.
It has been determined that creating a food safety culture
is imperative to an effective food safety risk management
system (Powell, Jacob, & Chapman, 2011; Yiannas, 2008).
21. Audit systems, in their current form, have limitations in
improving food safety.
There are no current empirical evaluations that look at
the correlation between audit scores and foodborne
illness.
Third-party audits are analogous in many ways to
regulatory municipal inspections of foodservice
operations: the effectiveness of both audits and
inspections.
Foodservice inspection is a cornerstone of local public
health, yet inspection scores can be poor predictors of
foodborne illness. (Powell et al., 2012)
22. Food safety auditors and inspectors are an integral part
of the food safety system, and their use will expand in the
future, for both domestic and imported foodstuffs.
Auditing can be helpful, in theory.
Audit reports, are only useful if the purchaser who
requires them reviews the results.
Audits and inspections can assist in the development of a
food safety culture by dictating criteria for the sale of
goods. (Acheson, 2010).
23. On the contrary, I am in favour of a lively system of audit
and inspection, but one which has as one of its principal
goals to stimulate, facilitate, and support on going
improvements in practice.
This goal is consistent with that of improving common
standards.
Systems of inspection and accountability could become a
form of democratic empowerment, encouraging collective
identification with the public sphere.
The micro-regime of regulation developed in recent years
has been in part the instrument of this conception.
24. Laurence Ferry (2019). Parliamentary Academic Fellowship report by
Professor Laurence Ferry to Housing, Communities and Local
Government Select Committee, Audit and Inspection of Local Authorities
in England: Five years after the Local Audit and Accountability Act 2014.
https://www.parliament.uk/business/committees/committees-a-
z/commons-select/housing-communities-and-local-government-
committee/audit-inspection-local-authorities-england/
Rustin, Michael. (2004). Rethinking Audit and Inspection pp 86-107.
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critique to enhance food safety, Food Control 30 (2013) 686e691.
http://dx.doi.org/10.1016/j.foodcont.2012.07.044