What to Expect During an Audit
When your area is audited, you should expect the following as we plan, conduct, and report results during an audit:
- Planning may include, but not limited to, the following:
- Discussion and document of key processes to identify risks and existing controls;
- Reconciliation of identified risks and controls;
- Designing a test plan to test existing controls; and,
- Identifying any unmitigated risks.
- Testing includes, but not limited to:
- Execution of the designed test plan;
- Developing controls for unmitigated risks; and,
- Identifying potential process improvements.
- Reporting includes, but is not limited to, the following:
- Periodic updates of testing results;
- Preparation of a draft report for review and input; and,
- A management action plan as a part of the final report.
Input is solicited and encouraged during every phase of the audit process.