Uploaded byCrisnick Lorenzo
Audit Management System
The document describes an audit management system called Audit Management System IA that can automate the audit process. It allows auditors to plan audits, document controls and test plans, manage issues, and track resources. The system provides features for audit administration, documentation, issue management, and resource management. It aims to help auditors achieve a paperless audit process.
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Audit Management System
- 1. W C ORKGROUP ONNECTION Automatingthe Audit Process _______________________________ A Presentation by Workgroup Connection
- 2. W C ORKGROUP ONNECTION AUDITORS’ WORKING PAPER NIGHTMARES Lost audit Materials provided evidences by auditee Direct audit Lost working evidences papers Erroneous file Company policies version/format and procedures Record of interviews Electronic evidences Organizing WP Draft audit from several reports, typos auditors
- 3. W C ORKGROUP ONNECTION The Alternative: Automate The Working Paper Preparation To achieve a truly paperless environment in the workplace with respect to the following: – Audit Administration – Organizing Audit Documentation – Documenting Risk Assessment – Issue Management – Resource Management
- 4. W C ORKGROUP ONNECTION Processes to Automate Audit Documentation • Process flowcharts • Process narratives • Controls evaluation • Test plan • Audit program/procedures/work performed • Supervisor review • Review notes • Risk assessment/analysis • Compensating controls identification • Embed any type of electronic document • Others (automatic indexing, auto-cross referencing)
- 5. W C ORKGROUP ONNECTION Processes to Automate Reporting • Summary of Weaknesses • Audit Recommendations • Present Draft for Discussion with Management • Capture Management Comments • Report Results of Examination • Final Audit Report • Executive Summary • Ability to generate printout of all working papers Audit Administration • Budgeting • Resource Planning
- 6. W C ORKGROUP ONNECTION Our Solution Audit Management System IA • Automated audit management solution • Feature rich • Designed, coded and tested by auditors • Utilizes Lotus Notes technology • Current version: 2.5.2
- 7. W C ORKGROUP ONNECTION AMS Main Menu
- 8. W C ORKGROUP ONNECTION Audit Administration Activity Monitoring • Track all ongoing audit work, by activity or staff
- 9. W C ORKGROUP ONNECTION Audit Administration Activity Monitoring • Monitor time charges per audit domain or auditor
- 10. W C ORKGROUP ONNECTION Audit Administration Audit Rating • Track ratings for all projects
- 11. W C ORKGROUP ONNECTION Audit Administration Budget Analysis • Analyze performance against budgets
- 12. W C ORKGROUP ONNECTION Audit Administration Other Audit Administration Features • Track documents requested from, and provided by, client • View User Manual • View staff assignments
- 13. W C ORKGROUP ONNECTION Audit Documentation Audit Planning • Define Audit Plan details and documents • Easily view Control definitions and associated test plans • View Audit Program Guide
- 14. W C ORKGROUP ONNECTION Audit Documentation Audit Planning • Provide flexible but comprehensive risk classification • Easily identify risks according to classification
- 15. W C ORKGROUP ONNECTION Audit Documentation
- 16. W C ORKGROUP ONNECTION Audit Documentation Process description • Define process flowchart • Document process narrative • View controls associated with each business process
- 17. W C ORKGROUP ONNECTION Audit Documentation Control Testing • View controls by preparer, reviewer, or issue identified • Create Summary of Recommendations instantly
- 18. W C ORKGROUP ONNECTION Audit Documentation
- 19. W C ORKGROUP ONNECTION Audit Documentation Control Testing • View controls where walkthrough have been performed • View controls identified as key controls • Risk assessment methodologies for recording frequency and severity
- 20. W C ORKGROUP ONNECTION Audit Documentation
- 21. W C ORKGROUP ONNECTION Audit Documentation Control Testing • View Test Plans according to review status
- 22. W C ORKGROUP ONNECTION Audit Documentation
- 23. W C ORKGROUP ONNECTION Audit Documentation Review Notes • Monitor review notes and responses by document type or status • Provide immediate feedback
- 24. W C ORKGROUP ONNECTION Audit Documentation Reports • Generate various reports directly, with quick link to Issue Manager
- 25. W C ORKGROUP ONNECTION Audit Documentation
- 26. W C ORKGROUP ONNECTION Issue Management Issue Management • View audit issues identified per domain • Track responsibility and remediation target dates for these issues
- 27. W C ORKGROUP ONNECTION Issue Management
- 28. W C ORKGROUP ONNECTION Issue Management Issue Management • View outstanding audit issues over pre-determined time periods
- 29. W C ORKGROUP ONNECTION Issue Management Issue Management • Track issues under remediation
- 30. W C ORKGROUP ONNECTION Issue Management Issue Management • View up-to-date statistics on issues for remediation
- 31. W C ORKGROUP ONNECTION Resource Management Projects • View list of projects, and assign resources to these projects as necessary
- 32. W C ORKGROUP ONNECTION Resource Management Projects • View list of projects • View project calendar using daily, weekly, or monthly calendar views • View project status • Assign auditors to projects
- 33. W C ORKGROUP ONNECTION Resource Management
- 34. W C ORKGROUP ONNECTION Resource Management Resource Management • View list of auditors, their assignments and schedules
- 35. W C ORKGROUP ONNECTION Other AMS Features • On-line working paper reviews • Electronic sign-off of working papers • Automatic alerts via e-mail for Past due dates Actions not completed Risks that require reassessment Changes in risk level • Full version control of all audit reports • Ability to embed any type of electronic document • Allow multiple auditors to work on the same document • Remote review of working papers at any point during the audit
- 36. W C ORKGROUP ONNECTION Contact Us For more details, contact: Abraham B. Cortez abrahambcortez@gmail.com or Crisnick V. Lorenzo crisnickvlorenzo@gmail.com