Michael Andersen Consulting Company Ltd. has proposed to act as the external auditors for Federal University of Technology Lokoja. They will audit the university's financial accounts and records for accuracy, validity, appropriateness and efficiency. Their audit will involve analyzing issues concerning university operations, auditing past transactions, examining accounting policies, and reporting on any exceptional issues. They will prepare an audit report with key findings and recommendations. Michael Andersen believes their experience and multi-disciplinary team are well positioned to complete the audit in an efficient manner while minimizing disruption to the university's operations.
Evolving role of internal auditing functionDebashis Gupta
The document discusses the evolving role of internal auditing functions. It covers positioning internal audit in an organization through strategic partnerships with business and benchmarking the internal audit function. It also discusses risk-based audit approaches and governance processes, focusing on the roles of various stakeholders. The document advocates for internal audit to act as a strategic partner by providing quality assurance on critical risks. It outlines how internal auditing has shifted from traditional transaction-based approaches to more modern risk-based approaches.
International standards for the professional practice of internal auditing (s...Jason Sookram
The document discusses the International Professional Practices Framework for Internal Auditing (IPPF) which provides authoritative guidance for internal audit professionals worldwide. It outlines that the IPPF includes mandatory guidance such as the internal auditing definition, code of ethics, and international standards for internal auditing. These standards address attributes of internal auditing organizations and individuals as well as performance standards. Key aspects covered include independence, proficiency, quality assurance programs, planning audits, and managing the internal audit activity in conformance with the IPPF.
This document provides an overview of internal audit strategy and risk approach for not-for-profit organizations. It discusses the context and challenges not-for-profits face, conceptual frameworks for internal control and governance, a practical internal audit model, resourcing strategies, the internal audit process, and integrating risk management. It proposes a risk-based internal audit approach and roadmap for developing an enterprise risk management framework that embeds risk management into operations. The document is intended to help not-for-profits design and implement an effective internal audit and risk management function.
This document outlines the International Professional Practices Framework (IPPF) for internal auditing. It discusses the mandatory guidance which includes the definition of internal auditing, code of ethics, and standards. The strongly recommended guidance includes position papers, practice advisories, and practice guides. The code of ethics contains four principles of integrity, objectivity, confidentiality, and competency. The standards provide a framework for performing internal audits and are organized into attribute standards addressing characteristics like independence and proficiency, and performance standards. The document defines key terms and concepts within the IPPF.
Smart Investor is an independent fee-only registered investment advisor based in California that provides wealth management and retirement plan services. As a fiduciary, Smart Investor's goal is to serve clients' best interests by understanding their goals and implementing a disciplined investment process. Smart Investor works with individuals, non-profits, entrepreneurs, and retirement plan sponsors to help them achieve financial goals through objective financial planning and investment management.
The document provides guidance on planning an audit engagement. It discusses why planning is important and outlines the key stages and considerations in planning an engagement. Planning helps ensure success, a comprehensive outcome, availability of resources, and better management of expectations. The stages of planning discussed are: prepare, objectives, scope, resources, program of work, input/oversight/review. Planning is an iterative process that involves understanding the audit context, objectives, scope, resources needed, and program of work.
This document summarizes the International Standards for the Professional Practice of Internal Auditing. It outlines standards for key internal audit activities including:
- Managing the internal audit activity
- Planning engagements
- Communicating and approving plans
- Performing engagements
- Communicating results
The standards provide requirements for objectively evaluating governance, risk management and controls and making recommendations to improve processes. Internal auditors must plan work, document activities and findings, and report results in accordance with these standards.
This is a step-by-step process on how to plan and carry out Auditing. This shall be useful for Accountants , professionals,small businesses,big businesses.
Evolving role of internal auditing functionDebashis Gupta
The document discusses the evolving role of internal auditing functions. It covers positioning internal audit in an organization through strategic partnerships with business and benchmarking the internal audit function. It also discusses risk-based audit approaches and governance processes, focusing on the roles of various stakeholders. The document advocates for internal audit to act as a strategic partner by providing quality assurance on critical risks. It outlines how internal auditing has shifted from traditional transaction-based approaches to more modern risk-based approaches.
International standards for the professional practice of internal auditing (s...Jason Sookram
The document discusses the International Professional Practices Framework for Internal Auditing (IPPF) which provides authoritative guidance for internal audit professionals worldwide. It outlines that the IPPF includes mandatory guidance such as the internal auditing definition, code of ethics, and international standards for internal auditing. These standards address attributes of internal auditing organizations and individuals as well as performance standards. Key aspects covered include independence, proficiency, quality assurance programs, planning audits, and managing the internal audit activity in conformance with the IPPF.
This document provides an overview of internal audit strategy and risk approach for not-for-profit organizations. It discusses the context and challenges not-for-profits face, conceptual frameworks for internal control and governance, a practical internal audit model, resourcing strategies, the internal audit process, and integrating risk management. It proposes a risk-based internal audit approach and roadmap for developing an enterprise risk management framework that embeds risk management into operations. The document is intended to help not-for-profits design and implement an effective internal audit and risk management function.
This document outlines the International Professional Practices Framework (IPPF) for internal auditing. It discusses the mandatory guidance which includes the definition of internal auditing, code of ethics, and standards. The strongly recommended guidance includes position papers, practice advisories, and practice guides. The code of ethics contains four principles of integrity, objectivity, confidentiality, and competency. The standards provide a framework for performing internal audits and are organized into attribute standards addressing characteristics like independence and proficiency, and performance standards. The document defines key terms and concepts within the IPPF.
Smart Investor is an independent fee-only registered investment advisor based in California that provides wealth management and retirement plan services. As a fiduciary, Smart Investor's goal is to serve clients' best interests by understanding their goals and implementing a disciplined investment process. Smart Investor works with individuals, non-profits, entrepreneurs, and retirement plan sponsors to help them achieve financial goals through objective financial planning and investment management.
The document provides guidance on planning an audit engagement. It discusses why planning is important and outlines the key stages and considerations in planning an engagement. Planning helps ensure success, a comprehensive outcome, availability of resources, and better management of expectations. The stages of planning discussed are: prepare, objectives, scope, resources, program of work, input/oversight/review. Planning is an iterative process that involves understanding the audit context, objectives, scope, resources needed, and program of work.
This document summarizes the International Standards for the Professional Practice of Internal Auditing. It outlines standards for key internal audit activities including:
- Managing the internal audit activity
- Planning engagements
- Communicating and approving plans
- Performing engagements
- Communicating results
The standards provide requirements for objectively evaluating governance, risk management and controls and making recommendations to improve processes. Internal auditors must plan work, document activities and findings, and report results in accordance with these standards.
This is a step-by-step process on how to plan and carry out Auditing. This shall be useful for Accountants , professionals,small businesses,big businesses.
internal audit function ans controller's role in investors relationArgentinaMorata
This document discusses the roles of internal audit, the controller, and investor relations. It defines internal audit as an independent function to evaluate operations and ensure proper controls. The controller oversees accounting and finance and can influence internal audit priorities. For investor relations, the objectives are enhancing shareholder value through regular communication of financial and strategic information. The controller acts as an information resource, interpreter, and communicator in investor relations, assisting with financial documents and presentations. The CEO may also be involved in major investor meetings and addressing important company matters.
The document discusses the principles and concepts of audits according to ISO 9001:2008. It provides three main points:
1) Audits are an important part of the PDCA cycle and help uncover system deficiencies to facilitate continual improvement. They help reduce quality costs from errors.
2) There are three main types of audits - system audits, process audits, and product audits. System audits assess the quality management system, process audits assess individual processes, and product audits establish if products meet specifications.
3) Audits provide benefits like ensuring requirements are met, aiding improvements, and providing an internal control mechanism. They are an important tool for organizations to continually improve.
The document provides guidance on writing internal audit reports. It discusses what an audit report is, its purpose, and key components. An audit report summarizes an audit's work, findings, and recommendations. It follows a four-step process: identifying issues, analyzing root causes, recommending corrections, and obtaining management responses. The document outlines the typical structure and contents of an audit report, including disclosing findings, describing findings in detail, and making suggestions. It also discusses report drafting, communication, and distribution processes to ensure reports reach the intended users.
Internal auditing departments are led by a chief audit executive ("CAE") who generally reports to the audit committee of the board of directors, with administrative reporting to the chief executive officer (In the United States this reporting relationship is required by law for publicly traded companies).
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The internal audit activity must be independent, and internal auditors must be objective in performing their work. Internal auditors must possess the knowledge, skills, and other competencies needed to perform their individual responsibilities and apply the care and skill expected of a reasonably prudent and competent internal auditor. The chief audit executive must develop and maintain a quality assurance and improvement program that covers all aspects of the internal audit activity.
The document discusses the purpose and role of internal auditing. It describes internal auditing as an independent function that examines and evaluates an organization's activities to help management discharge their responsibilities effectively. The objective is to promote control within the organization at a reasonable cost. The document outlines the audit process, including planning, performing, reporting, and following up on corrective actions. It provides best practices for tasks like risk assessment, test design, documentation, reporting findings, and building trust with auditees.
Audit evidence a framework (ppt ch7[1].pdf)bagarza
The document discusses audit evidence and the framework for gathering sufficient and appropriate evidence during an audit. It covers key aspects of planning evidence collection including determining what procedures to perform, how much evidence is needed, and when to perform procedures. The document also discusses commonly used audit procedures like observation, inquiry, confirmations, and analytical procedures as well as factors that influence the extent of audit procedures. It emphasizes the importance of properly documenting all audit evidence in the work papers.
Process level auditing involves auditors facilitating managers' assessment of control strengths and weaknesses across related activities. The auditors and managers work together to develop improvement plans where needed. Under this approach, all existing controls are reviewed by managers and auditors to determine how efficiency can be improved. The auditors act as consultants to help enhance department operations.
This document discusses project auditing, including what a project audit is, its benefits, how to determine a project's success or failure, and the project audit process. A project audit is a formal inquiry into any aspect of a project that aims to identify issues, improve performance, and evaluate success. It can help identify problems early, clarify costs and schedules, and reduce risks. A successful project meets its objectives efficiently and satisfies customers, while an unsuccessful one lacks clear objectives, experienced people, and accountability. The audit should cover the current and future status of the project, critical issues, risks, and lessons learned. It follows a life cycle of initiation, baseline definition, data collection, analysis, reporting, and termination.
The document provides an overview of the tools and techniques used in beginning auditing. It discusses internal auditing today, including the definition and roles of internal auditors. It covers the audit model stages of planning, performing, communicating and monitoring. Specific topics within these stages are also outlined, such as audit planning, interviewing, process documentation, walkthroughs, and developing audit programs. Emerging tools that can automate parts of the audit process are also mentioned. The document aims to introduce auditors to the key components and best practices for conducting an audit.
David Cohen has over 15 years of experience in risk management and operational roles in the financial services industry. He has expertise in risk assessment, controls reviews, credit analysis, and ensuring adherence to regulations. Most recently, he provided operational risk and control support to UBS Bank AG and American Express, where he reviewed processes, risks, controls, and key risk indicators. Prior to that, he held risk management roles at Bank of New York Mellon, where he conducted risk assessments, developed risk dashboards, and engaged with compliance on risk oversight. He has a bachelor's degree in economics from Queens College.
The document outlines the key steps in initial audit planning:
1. Accept the client and perform initial planning including client acceptance procedures, engagement letter, and staff selection.
2. Understand the client's business and industry by learning about operations, management, objectives, and the external environment.
3. Assess client business risk by evaluating sources of risk that could influence the client to misstate financials.
4. Perform preliminary analytical procedures to evaluate the client's financial health using ratios that assess short-term debt paying ability, liquidity, long-term debt obligations, and profitability.
The document describes the audit process used by the Department of Audit Services at Montefiore Medical Center, including selecting audit areas, notifying the auditee, conducting an entrance conference, performing fieldwork to review processes and transactions, having an exit conference to discuss findings, and issuing an audit report with any recommendations. The goal is to work with management to evaluate controls and processes, identify risks, and recommend improvements through an objective review.
The document lists the four major phases of audit planning and their related activities. Phase a involves accepting the client and initial planning, including sending an engagement letter, identifying experts needed, and determining financial statement users. Phase b focuses on understanding the client's business and industry through activities like facility tours, identifying related parties, and reviewing accounting principles. Phase c involves assessing client business risks such as through reviewing management controls. Finally, phase d includes preliminary analytical procedures, like comparing the client's ratios to competitors.
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/audit-report-model-and-sample-268
This document "Audit Report: Model and Sample" contains a model of an audit report and a real sample from an IT Audit assignment (data of client not disclosed for privacy and confidentiality issues).
This has been used effectively in various types of internal and external audit assignments as well as consulting assignments, especially in reviewing internal controls for all types of companies.
Saad Bashir provides his curriculum vitae for a job application. He has over 11 years of experience in internal audit, primarily in the financial sector in Australia, Europe, the Middle East, and Asia Pacific. His experience includes internal auditing, risk management, financial reporting, and information technology audits. He also has experience creating audit manuals, policies, and training staff. Saad Bashir is seeking a new position that utilizes his expertise in audit, risk management, and financial controls.
This document provides an internal auditor competency framework developed by the Institute of Internal Auditors - Australia. It outlines competencies across four key areas: standards, technical skills, interpersonal skills, and knowledge areas. It describes the behaviors expected at different job levels (new internal auditor, practicing internal auditor, internal audit manager, chief audit executive). The framework is intended to guide professional development, recruitment, performance reviews, and succession planning for internal auditors in Australia.
The document defines internal audit as an independent, objective function that evaluates risk management, controls and governance to help an organization achieve its objectives. It lists skills like communication, technical expertise, integrity, business acumen and skepticism as important for internal auditors. The document also describes functional and administrative reporting structures and outlines the key components an internal audit charter should include like scope, responsibilities and standards. Finally, it provides an overview of the audit process from planning to closing meetings and recommends training resources on auditing best practices.
BDO General Audit of Financial StatementsBDO Indonesia
BDO Indonesia will conduct an audit of the company's financial statements in accordance with auditing standards. The audit will include evaluating accounting policies, internal controls, risks of misstatement, and assessing accounting estimates. BDO will perform audit procedures to obtain evidence about the financial statements and issue an opinion on whether the statements fairly represent the company's financial position in accordance with standards. BDO will also communicate any significant deficiencies in internal controls identified during the audit.
BDO General Audit of Financial StatementsBDO Indonesia
BDO Indonesia will conduct an audit of the company's financial statements in accordance with auditing standards. The audit will include evaluating accounting policies, internal controls, risks of misstatement, and assessing accounting estimates. BDO will perform audit procedures to obtain evidence about the financial statements and will express an opinion on whether the statements fairly represent the company's financial position in accordance with standards. BDO will also communicate any significant deficiencies in internal controls identified during the audit.
This deck offers an overview of our validation assistance theme to assist banks and financial institutions mitigate model risk, assist with IRB accreditation and models refinement. Nexx uses a proprietary validation tool that has been verified and tested independently. Email us to learn more about our validation capabilities and assistance themes.
internal audit function ans controller's role in investors relationArgentinaMorata
This document discusses the roles of internal audit, the controller, and investor relations. It defines internal audit as an independent function to evaluate operations and ensure proper controls. The controller oversees accounting and finance and can influence internal audit priorities. For investor relations, the objectives are enhancing shareholder value through regular communication of financial and strategic information. The controller acts as an information resource, interpreter, and communicator in investor relations, assisting with financial documents and presentations. The CEO may also be involved in major investor meetings and addressing important company matters.
The document discusses the principles and concepts of audits according to ISO 9001:2008. It provides three main points:
1) Audits are an important part of the PDCA cycle and help uncover system deficiencies to facilitate continual improvement. They help reduce quality costs from errors.
2) There are three main types of audits - system audits, process audits, and product audits. System audits assess the quality management system, process audits assess individual processes, and product audits establish if products meet specifications.
3) Audits provide benefits like ensuring requirements are met, aiding improvements, and providing an internal control mechanism. They are an important tool for organizations to continually improve.
The document provides guidance on writing internal audit reports. It discusses what an audit report is, its purpose, and key components. An audit report summarizes an audit's work, findings, and recommendations. It follows a four-step process: identifying issues, analyzing root causes, recommending corrections, and obtaining management responses. The document outlines the typical structure and contents of an audit report, including disclosing findings, describing findings in detail, and making suggestions. It also discusses report drafting, communication, and distribution processes to ensure reports reach the intended users.
Internal auditing departments are led by a chief audit executive ("CAE") who generally reports to the audit committee of the board of directors, with administrative reporting to the chief executive officer (In the United States this reporting relationship is required by law for publicly traded companies).
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. The internal audit activity must be independent, and internal auditors must be objective in performing their work. Internal auditors must possess the knowledge, skills, and other competencies needed to perform their individual responsibilities and apply the care and skill expected of a reasonably prudent and competent internal auditor. The chief audit executive must develop and maintain a quality assurance and improvement program that covers all aspects of the internal audit activity.
The document discusses the purpose and role of internal auditing. It describes internal auditing as an independent function that examines and evaluates an organization's activities to help management discharge their responsibilities effectively. The objective is to promote control within the organization at a reasonable cost. The document outlines the audit process, including planning, performing, reporting, and following up on corrective actions. It provides best practices for tasks like risk assessment, test design, documentation, reporting findings, and building trust with auditees.
Audit evidence a framework (ppt ch7[1].pdf)bagarza
The document discusses audit evidence and the framework for gathering sufficient and appropriate evidence during an audit. It covers key aspects of planning evidence collection including determining what procedures to perform, how much evidence is needed, and when to perform procedures. The document also discusses commonly used audit procedures like observation, inquiry, confirmations, and analytical procedures as well as factors that influence the extent of audit procedures. It emphasizes the importance of properly documenting all audit evidence in the work papers.
Process level auditing involves auditors facilitating managers' assessment of control strengths and weaknesses across related activities. The auditors and managers work together to develop improvement plans where needed. Under this approach, all existing controls are reviewed by managers and auditors to determine how efficiency can be improved. The auditors act as consultants to help enhance department operations.
This document discusses project auditing, including what a project audit is, its benefits, how to determine a project's success or failure, and the project audit process. A project audit is a formal inquiry into any aspect of a project that aims to identify issues, improve performance, and evaluate success. It can help identify problems early, clarify costs and schedules, and reduce risks. A successful project meets its objectives efficiently and satisfies customers, while an unsuccessful one lacks clear objectives, experienced people, and accountability. The audit should cover the current and future status of the project, critical issues, risks, and lessons learned. It follows a life cycle of initiation, baseline definition, data collection, analysis, reporting, and termination.
The document provides an overview of the tools and techniques used in beginning auditing. It discusses internal auditing today, including the definition and roles of internal auditors. It covers the audit model stages of planning, performing, communicating and monitoring. Specific topics within these stages are also outlined, such as audit planning, interviewing, process documentation, walkthroughs, and developing audit programs. Emerging tools that can automate parts of the audit process are also mentioned. The document aims to introduce auditors to the key components and best practices for conducting an audit.
David Cohen has over 15 years of experience in risk management and operational roles in the financial services industry. He has expertise in risk assessment, controls reviews, credit analysis, and ensuring adherence to regulations. Most recently, he provided operational risk and control support to UBS Bank AG and American Express, where he reviewed processes, risks, controls, and key risk indicators. Prior to that, he held risk management roles at Bank of New York Mellon, where he conducted risk assessments, developed risk dashboards, and engaged with compliance on risk oversight. He has a bachelor's degree in economics from Queens College.
The document outlines the key steps in initial audit planning:
1. Accept the client and perform initial planning including client acceptance procedures, engagement letter, and staff selection.
2. Understand the client's business and industry by learning about operations, management, objectives, and the external environment.
3. Assess client business risk by evaluating sources of risk that could influence the client to misstate financials.
4. Perform preliminary analytical procedures to evaluate the client's financial health using ratios that assess short-term debt paying ability, liquidity, long-term debt obligations, and profitability.
The document describes the audit process used by the Department of Audit Services at Montefiore Medical Center, including selecting audit areas, notifying the auditee, conducting an entrance conference, performing fieldwork to review processes and transactions, having an exit conference to discuss findings, and issuing an audit report with any recommendations. The goal is to work with management to evaluate controls and processes, identify risks, and recommend improvements through an objective review.
The document lists the four major phases of audit planning and their related activities. Phase a involves accepting the client and initial planning, including sending an engagement letter, identifying experts needed, and determining financial statement users. Phase b focuses on understanding the client's business and industry through activities like facility tours, identifying related parties, and reviewing accounting principles. Phase c involves assessing client business risks such as through reviewing management controls. Finally, phase d includes preliminary analytical procedures, like comparing the client's ratios to competitors.
This Slideshare presentation is a partial preview of the full business document. To view and download the full document, please go here:
http://flevy.com/browse/business-document/audit-report-model-and-sample-268
This document "Audit Report: Model and Sample" contains a model of an audit report and a real sample from an IT Audit assignment (data of client not disclosed for privacy and confidentiality issues).
This has been used effectively in various types of internal and external audit assignments as well as consulting assignments, especially in reviewing internal controls for all types of companies.
Saad Bashir provides his curriculum vitae for a job application. He has over 11 years of experience in internal audit, primarily in the financial sector in Australia, Europe, the Middle East, and Asia Pacific. His experience includes internal auditing, risk management, financial reporting, and information technology audits. He also has experience creating audit manuals, policies, and training staff. Saad Bashir is seeking a new position that utilizes his expertise in audit, risk management, and financial controls.
This document provides an internal auditor competency framework developed by the Institute of Internal Auditors - Australia. It outlines competencies across four key areas: standards, technical skills, interpersonal skills, and knowledge areas. It describes the behaviors expected at different job levels (new internal auditor, practicing internal auditor, internal audit manager, chief audit executive). The framework is intended to guide professional development, recruitment, performance reviews, and succession planning for internal auditors in Australia.
The document defines internal audit as an independent, objective function that evaluates risk management, controls and governance to help an organization achieve its objectives. It lists skills like communication, technical expertise, integrity, business acumen and skepticism as important for internal auditors. The document also describes functional and administrative reporting structures and outlines the key components an internal audit charter should include like scope, responsibilities and standards. Finally, it provides an overview of the audit process from planning to closing meetings and recommends training resources on auditing best practices.
BDO General Audit of Financial StatementsBDO Indonesia
BDO Indonesia will conduct an audit of the company's financial statements in accordance with auditing standards. The audit will include evaluating accounting policies, internal controls, risks of misstatement, and assessing accounting estimates. BDO will perform audit procedures to obtain evidence about the financial statements and issue an opinion on whether the statements fairly represent the company's financial position in accordance with standards. BDO will also communicate any significant deficiencies in internal controls identified during the audit.
BDO General Audit of Financial StatementsBDO Indonesia
BDO Indonesia will conduct an audit of the company's financial statements in accordance with auditing standards. The audit will include evaluating accounting policies, internal controls, risks of misstatement, and assessing accounting estimates. BDO will perform audit procedures to obtain evidence about the financial statements and will express an opinion on whether the statements fairly represent the company's financial position in accordance with standards. BDO will also communicate any significant deficiencies in internal controls identified during the audit.
This deck offers an overview of our validation assistance theme to assist banks and financial institutions mitigate model risk, assist with IRB accreditation and models refinement. Nexx uses a proprietary validation tool that has been verified and tested independently. Email us to learn more about our validation capabilities and assistance themes.
This document provides an overview of Riskpro India, an audit and risk management firm. It summarizes Riskpro's services and audit methodology. The key points are:
- Riskpro provides services in enterprise risk management, corporate governance, regulatory compliance, and training. It has offices across India.
- Riskpro's audit methodology is risk-based and focuses on organizational objectives and risks. It aims to provide constructive advice and identify improvement opportunities.
- The audit process involves understanding the business, assessing risks, fieldwork, dealing with critical issues, and reporting. It takes a top-down, enterprise risk approach.
This document provides an overview of Riskpro India, an audit and risk management firm. It summarizes Riskpro's services and audit methodology. The key points are:
- Riskpro provides services in enterprise risk management, corporate governance, regulatory compliance, and training. It has offices across India.
- Riskpro's audit methodology is risk-based and focuses on organizational objectives and risks. It aims to provide constructive advice and identify improvement opportunities.
- The audit process involves understanding the business, assessing risks, fieldwork, dealing with critical issues, and reporting. It takes a top-down, enterprise risk approach.
Steadfast Business Consulting LLP provides a range of professional services including auditing, taxation, secretarial, legal, and advisory services. They have a team of qualified professionals with experience in their respective fields. Their services include internal audits, risk assurance, governance matters, CXO advisory, and more. They take a risk-based approach to internal audits following applicable Indian and global standards.
Josik Consultants Limited is a Nigerian company that provides project management, engineering design, and construction services. The document outlines Josik's services which include project management consultancy, inspection, auditing, and performance management. It also describes engineering design services for structures, highways, and water/hydraulic structures. Past projects include university erosion control, road construction, parking lot rehabilitation, and oil/gas related construction. The company aims to use engineering knowledge and project management best practices to successfully deliver projects on time and on budget for clients.
This is a presentation I gave at the 2007 PMI NCR Symposium on how to conduct a Project Audit. Contact me at Larry.Cooper@IGPLI.Net if you have questions.
Axion Consulting is committed to growing through embracing technology, developing partnerships, and providing high customer satisfaction. Their core values include integrity, excellence, passion, open communication, transparency, value creation, and fairness. They offer a range of consulting services including business process reengineering, internal control design, ERP solutions, internal auditing, HR and institutional design, risk management, corporate affairs, taxation, and training programs. Their clients are in various industries such as energy, education, construction, healthcare, and logistics.
The document discusses quality management in auditing. It defines quality management as ensuring audits are fit for purpose and maintain public trust. Quality management includes engagement resources like people and technology, engagement performance through direction, supervision and review, and monitoring and remediation. It also covers ethical requirements and the audit planning process.
This document is a resume for Asim Ismail, a Chartered Accountant and Certified Internal Auditor with over 8 years of experience in auditing and accounting. He has worked as an Assistant Manager of Internal Audit for Al Khaleej Sugar and as a Senior Internal Auditor for Arabtec Holding PJSC. His experience includes conducting risk-based operational and financial audits, developing annual audit plans, and ensuring compliance with auditing standards and regulations.
ASCENTOR is a professional services organisation providing advisory, forensic, assurance and recruitment solutions to medium and large companies across all major industries in Romania. The firm has built its foundation on the experience of its partners, all from international advisory networks. Our services include advisory, consulting, transactions, recruitment, forensics, litigation support and audit.
How to survive a Project Management Audit Dec 2-2014rhenderson08
This document provides tips on how to prepare for and navigate a project management audit. It begins by defining what a project audit is and explaining that the goal is to add value by improving processes, not to find fault. It then outlines the typical steps in a project audit, including planning, documentation review, interviews, and reporting. The document stresses that audits are meant to help projects succeed, not penalize, and provides advice on how to work collaboratively with auditors. Common risks audits identify and how they can help projects are also discussed.
Prudent Partners is creating a niche for itself in the financial planning field, Within 6 months of its launch; today it is serving 25+ clients across different strata of society.
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.
The document discusses the challenges facing a consultant in the Malaysian construction industry, which include a highly fragmented industry, low barriers to entry, and intense competition. It also examines the roles of consultants, such as advising clients, project management, and ensuring quality control. Recommendations are provided to help consultants overcome challenges like unclear project scope and costs overruns.
An internal audit is essential to maintain operational efficiency and financial reliability and to safeguard assets. It provides independent assurance that an organization’s risk management, governance and internal control process are operating effectively.
Our team of internal auditors shall complete the project based on understanding and discussions with the management of the Client regarding their expectations from the Internal Audit function.
We provide audit and assurance services designed to deliver value and ensure confidence of investors, regulators, business partners and lenders in your business. Internal audit is not just a watchdog of activities and internal controls within an organization, it is also a business catalyst, and, if done right, can provide valuable advice to management and the board of directors. We are one of the first ten audit firms registered with the Chamber of Financial Auditors of Romania (CAFR). We are also an ACCA member.
1. Proposal to Act as External
Auditors Act as External Auditors
Proposal to
Federal University of
Federal University of Technology
Technology Lokoja
Lokoja
November 2011
November 2011
AUDITAUDIT
Proposal to Act as External
Auditors
Michael Andersen 1
2. Disclaimers
This Proposal is made by Michael Andersen Consulting Company
Ltd., a Nigerian Accounting and Audit practice , is in all respects subject
to the negotiation, agreement, and signing of a specific engagement
letter or contract.
This Proposal contains confidential material proprietary to Michael
Andersen Consulting Company Ltd. The materials, ideas, and concepts
contained herein are to be used to assist Federal University of
Technology Lokoja.
This information and the ideas herein may not be disclosed to anyone
outside the Federal University of Technology Lokoja, or be used for any
other purpose, except with the prior consent of Michael Andersen
Consulting Ltd.
This proposal is subject to the satisfactory completion of Michael
Andersen’s customary evaluation of prospective clients and
engagement. 2
Michael Andersen
3. Michael Andersen Telephone : 234 (0) 7033420653;
Consulting Company Ltd. 234 (0) 8056667569; 234 (0)
228B Eti-Osa Way Dolphin 8028903048, 234 (0)
Estate, Ikoyi, 8067661346
Lago, Nigeria. Email:
Andersenfinance@live.com
Nigeria & Confidential
Private Internet: www.Michael
Federal University of Technology, Andersen.com
Lokoja,
Kogi State.
Attention: Professor Abdulmumini Rafindadi- The Registrar
23 July 2010
Dear Sir,
On behalf of Michael Andersen Consulting Company Ltd., we thank you for
granting us to the opportunity to submit a proposal to provide Audit services
as external auditor to the institution.
3
Michael Andersen
4. Michael Andersen Consulting Company Ltd. is delighted to submit this formal
response which presents our scope of work, approach and methodology,
experience and capability with respect to assisting you in achieving your goals.
We have carefully considered your requirements and believe that we are
ideally placed to provide you with the services you require. We are putting
forward a team that:
Comprises seasoned professionals with deep transaction experience.
These professionals understand the salient issues in the education
environment and technical issues associated with the proposed
engagement and are expected to bring their expertise to bear towards a
successful execution.
Accordingly, we would like to draw your attention to the following aspects of
our proposal:
Michael Andersen Consulting Company Ltd. is amongst the leading
advisors in the Public Sector Accounting in Nigeria, offering unrivalled
experience in the areas of Audit and transaction support.
Michael Andersen Consulting Company Ltd. is currently executing
numerous audit related advisory services and transaction structuring,.
This is an important opportunity for us. The team is ready to commence work
when instructed and enthusiastic about the prospect of working with you.4 We
Michael Andersen
5. Proposal content
• Background
• Our approach and scope of work
• Why ATACOFF?
• Team structure
• Business arrangements
• Key contacts
5
ATACOFF
6. Background (1/2)
We are a leading Accounting, Taxation, Audit and Consulting group
Who We Are of firms located in Abuja the Nigerian capital. Our main focus is
Auditing, Accounting, Business Consulting, Financial Advisory, and
Taxation for Private and Public Sector Organisations. We provide
Accounting Solutions with public sector focus to create value for
our clients and maximize our stakeholders' wealth.
Our The Federal University of Technology, Lokoja is in need of
Understanding external auditors to audit the financial accounts of the college
Of and past records for accuracy ,validity, appropriateness and
Your Needs efficiency. Michael Andersen Consulting Company Ltd. is
equipped to provide audit and assurance services with
minimal disruption to clients’ operations.
In accordance with your requirements, the specific work to be
Required carried out are as follows:
Services To carry out complete and comprehensive analysis of all
issues concerning the operation of the institution;
Michael Andersen 6
7. Background (1/2)
To audit all past transactions for
accuracy, validity, appropriateness and efficiency;
To establish reasons underpinning any inaccuracies and
the parties involved in any form of irregularities;
To examine and comment on the accounting policies;
To carry out this audit with the highest degree of skill, care
and diligence normally
Required
demonstrated by Auditors with similar qualifications and
Services
experience in the performance of comparable engagements
of this nature;
To summarise and report upon any exceptional issues
noticeable to the Auditor during the engagement and that
may have a significant impact on the overall integrity of the
system and process;
To prepare an Audit Report together with Executive
Summaries, Annexes and other documentations as may be
seen necessary on key findings, outcomes, results and
ATACOFF recommendations; and, 7
8. Proposal content
• Background
• Our approach and scope of work
• Why Michael Andersen?
• Team structure
• Business arrangements
• Key contacts
8
Michael Andersen
9. Our approach and scope of work (1/3)
Our audit will focus on the key issues, values and
potential risks to their realisation
Our audit process entails four • Evaluation of identified risks
basic steps: through analysis of financial
1. Planning
and operational data over time
2. Evaluation and by comparison with
3. Interpretation benchmark experience
• Interpretation of results of
4. Reporting analysis through discussions
with Prospect management
• Planning of processes and and by comparison with
activities with a view to identify benchmark experience
potential risks by reviewing Issues focused reporting
financial information about the
… Fieldwork is performed by
Prospect and discussions with
Prospect management. dedicated and qualified
Accountants and specialists:
Michael Andersen 9
10. Our approach and scope of work (2/3)
Our audit and assurance will focus on the key
issues, values and potential risks to their realisation
• Review internal audit
• Given significant
report, assessment of funding
experience, our transaction sources and utilisation
professionals can quickly • Highlighting relevant areas critical
identify areas requiring to the decision making
specialist input and ensure that • Review allocation from the
such specialists make relevant Federal Government, other
report on such issues for grants and management of such
decision making. funds.
• Re - assess the financial reports
… We bring relevant issues to
prepared by the institution.
your attention in a timely and
• Our audit and assurances
concise way:
transcends the basic values of
• Internal Control testing- regular audit as we focus on
assessment of level of control activities that add values to all
risk and checking for possible parties in the process.
Michael Andersen in the system
weaknesses • Assessment of Capital
10
11. Our approach and scope of work (3/3)
Our audit and assurance will focus on the key
issues, values and potential risks to their realisation
• Our professional audit teams are • Our experts comprehend the
briefed on the requirements of the specifics of the institution such
audit and are properly coached as financing challenges, drop in
prior to the commencement of the the trend of government
allocations over
engagement.
time, Inadequate of
• Depending on specific information, communication and
programme requirements we take technology facilities.
a pro-active approach in • Our experts are abreast of
evaluating findings and developments in auditing
discussing these with the School standards, Generally Accepted
authority to ensure agreement of Accounting Principles (GAAP)
any non-compliances and obtain and changes in regulations. In
initial thoughts on corrective this way our firm prepares11
Michael Andersen
complete and coherent audit
12. Proposal content
• Background
• Our approach and scope of work
• Why Michael Andersen?
• Team structure
• Business arrangements
• Key contacts
12
ATACOFF
13. Why Michael Andersen Consulting
Company Ltd.? positioned to assist Federal
We are strongly
University of Technology Lokoja…. .……..
OurOur Experience
Experiences
Our Multi-
Our Human
Disciplinary
Resources
Skills
Michael
Andersen’s
Difference
Our Tools and Our Holistic
Methodologies Approach
13
Michael Andersen
14. Why ATACOFF?
Michael Andersen Consulting Company Ltd. value
proposition Identifying key issues, risks
and mitigating factors up-front
Being properly prepared
Capitalising on our significant
audit experience
Having access to additional
resources
Clear
Helps
focus on Helps
increase
prompt minimise Helps Helps
complianc
identificati disruption increase maintain
e to
on and to the the speed control of
relevant
communic Institution’ of the
statutory
ation of s execution process
requireme
… getting Michael Andersen Consulting Company Ltd. involved
key issues operations
nts
and risks early helps minimise risks
Michael Andersen 14
15. Proposal content
• Background
• Our approach and scope of work
• Why ATACOFF?
• Team structure
• Business arrangements
• Key contacts
15
ATACOFF
16. Team structure (1/3)
Our team draws together audit specialists from our Lagos office to provide
you with the full range of skills and experience to help ensure the success
and the timely completion of the audit.
An outline of the structure of the core team is presented below, followed by
a more detailed description of Audit Partnereach core team member.
the role of
Associates
Trainees Staff
............Our team is constituted based on experience and qualifications
16 1
Michael Andersen
17. Team structure (2/3)
Curriculum vitae
Name Michael Olujitan
Position Chief Executive Officer, Michael Andersen Consulting Ltd.Advisory Services
Education and • B.Sc. Petroleum Engineering, University of Ibadan, Ibadan, Nigeria
Qualifications • Fellow, Association of Chartered Certified Accountants, UK
• Associate, Institute of Chartered Accountants of Nigeria
Area of expertise Financial Services; Telecommunications, Public Sector and Energy (Oil, Gas & Power)
Years of 18 years
experience
Experience and Michael specialises in value for money reviews, capital projects, Audit Tests of Financial
track record
Systems using IDEA 5.0 Audit software, preparation of Audit Reports including
recommendations for improving existing systems, Accounting and Taxation , Banking,
Corporate Finance , Project Appraisals and Funding.
He is experienced in International Project Finance,, review of viability of mergers and
takeovers, involving the review of Balance sheets and Accounts of merging organisations
and making recommendations for improvements.
• Kayode is the CEO of Michael Andersen Consulting Ltd.& Head of our Accounting
Advisory Services.
• He has overall responsibility for our Accounting Support Services and function. In this
role, he has been involved in providing accounting services, corporate governance and
risk advisory services to our major clients in key sectors of the economy.
• Prior to ATACOFF, Kayode was the Managing partner of Michael Andersen & Co
Michael Andersen Chartered Accountants, a UK based financial advisory boutique. 17
18. Team structure (3/3)
Curriculum vitae (cont’d)
Name Olugbenga Odeyemi
Position Chief Operating Officer, Michael Andersen Consulting Ltd.Advisory Services, Abuja
Education and • M.Sc. Finance, (with Distinction). Middlesex University , United Kingdom.
Qualifications • Associate, Institute of Chartered Accountants of Nigeria
• Doctor of Veterinary Medicine , University of Ibadan
Area of expertise Financial Services; Telecommunications, Infrastructure and Public Sector
Years of 7 years
experience
Relevant
Experience Prior to ATACOFF, Gbenga was a Senior Associate of KPMG Professional Services
where he led many regulatory reporting assignments. He attended international trainings
on mergers and acquisition in South Africa and united Kingdom.
As a Senior Associate, he led the teams on the following Financial Advisory Services
across the sector:
• Restructuring due diligence of a Primary Mortgage Institution based in Abuja
• Acquisition Due Diligence of a private Telecommunication operator based in Western
Nigeria
• Cross border acquisition by a leading African Mobile Telecommunication Company
• Crafting of business plans, business case assessment, financial models and
establishment of optimal financing mix
• Regulatory reporting on financial transactions for many of the States of the Federation
• Risk Assets assessment and portfolio advisory services to financial institutions
• Diagnostic review of troubled Nigerian Bank post Central Bank of Nigeria’s Audit.
ATACOFF 18
Dr. Gbenga facilitated lectures and trainings on Financial futures, options and
19. Proposal content
• Background
• Our approach and scope of work
• Why ATACOFF?
• Team structure
• Business arrangements
• Key contacts
19
ATACOFF
20. Business arrangements (1/2)
Time table
Timetable
3 - Weeks 6 - Weeks 2 - Weeks 2 -Weeks
Review and
Report
Planning Fieldwork writing Completion
Agree detailed Fieldwork Report Report
scope preparation finalisation
Issues feedback
• This timetable is indicative and may be expanded, contracted or phased
further depending on your requirements and the level of access to
information and management
• We would envisage an initial period of planning time followed by six weeks
of fieldwork, two weeks of review and report writing, developing a draft
report for factual accuracy assessment by management, with a view to
having a final report within 3 months of commencing the work
20
Michael Andersen
21. Business arrangements (2/2)
Time table
We have designed the process to ensure minimal disruption:
-We will be happy to revisit the timetable with you at any point, should
the need arise
-Ideally, we would hope to be fully briefed up front by the School
Authority
• -We will agree based on hourly rates list with you at the the level of skills
Our fees are an information request corresponding to start of the
and experience of the personnelour be assigned order for an efficient are
audit before commencement of to fieldwork in to the audit. Our fees
exclusivefrom theand reimbursable commencement
process of VAT date of fieldwork out-of-pocket expenses which shall be
calculated separately.
• Our out-of-pocket expenses such as transportation, report production etc,
which are a direct result of the project, are charged at cost and billed
separately.
Michael Andersen
21
22. Proposal content
• Background
• Our approach and scope of work
• Why ATACOFF?
• Team structure
• Business arrangements
• Key contacts
22
ATACOFF
23. Key contacts
We welcome enquiries and will be happy to discuss your specific needs with
you. Please feel free to contact any of the individuals listed below:
Name Phone Number E-mail
Michael Olujitan + 234 7033420653 or +234 8056667569
michaelolujitan@hotmail.com
CEO, Michael Andersen Consulting Company Ltd.
+234 8075444920 or +234 8028645994 @yahoo.com
COO, Michael Andersen Consulting Company
Michael Andersen 23