Develop a thorough understanding of business processes in scope for assigned audits and document control environment matrix.
Identify and document inherent risks and controls within the business processes.
Collect information listed in and update audit profile template.
Prepare audit plan and audit engagement program including checklists and working papers.
Formal notification of Audit engagement to the Auditee.
Participate in opening meetings to discuss the audit objective, obtain access to required documentation, and for introduction with the audit team.
Internal Audit- Fieldwork
Develop a risk based test plan by selecting appropriate audit approach, test procedures and sampling criteria based on professional judgment and departmentally defined internal audit methodology.
Ensure audit tests and working papers are in accordance with Internal Audit Manual.
Ensure comment sheet and work papers are organized and referenced for review by Manager, Internal Audit.
Evaluate the adequacy of process design and the effectiveness of controls in meeting business and control objectives. Identify and document control and process weaknesses and provide evidential support for findings.
Participate in closing meetings with client at the end of fieldwork, providing clear explanations for identified issues.
Conduct follow up audit for previous assignments.
Internal Audit- Reporting
Prepare concise and informative audit report to effectively communicate the findings and recommendations to the branch/department and senior management.
Conduct timely discussion of comment sheet and draft report to the auditee and middle management.
Provide practical and value added recommendations to address control weaknesses and/or process inefficiencies.
Report regularly to Audit Manager with regard to progress in achieving planned objectives.
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