When your area is audited, you should expect the following as we plan, conduct and report results.
- Planning includes a project risk assessment to determine objectives.
- Field work includes process and control reviews and testing of transactions.
- We will share opportunities to improve your operations as they are identified and ask for your input as we develop recommendations.
- We will share a draft report for your input before final report is issued.
- We will include your management action plan as a part of our final report.
Your input is encouraged at every phase.
Some potential results you should expect when we complete our audit are:
- Recommendations for improved controls and more economical or efficient use of resources;
- Conclusions on degree of compliance with policies, procedures, regulations and adequacy of financial records;
- Assessment of risks and controls.