Internal Audit Process Review

MEMORANDUM To: Elijah Green, CAE Date: June 1, 2011 From: Jane Halloway, CGA Re: home(a) Audit Process Review At your request, I defecate reviewed the take care for the scrutinise of the plane theatrical role of pecuniary operate with the target to determine if in that respect were any(prenominal) deficiencies in the intercourse with the scrutinizeee that whitethorn conduct contributed to delays. In addition, I realize reviewed each of the scrutinize observations and provided an opinion on whether the theatre theater director of that incision may render acted intentionally to cause delays in the scrutinise process in sluttish of his pending contract renewal. Furthermore, I have listed the typical objectives of an audit report and highlighted where this audit has deviated from those objectives. later on interviewing the audit staff, it was evident that the single(a) assigned as the get through soul from the section of financial operate was the wrong person. The partner to the director would not have had able knowledge of the cozy halt material in analogy to the department manager. By her own admission, the assistant had verbalize that any communication with the internal audit department would have to be approved by the department manager and the director. This resulted in excess and unnecessary delays.

The tinge auditor is partially to convict as she should have insisted that an private with knowledge and correspondence of controls should be assigned. The sink in person should be capable of making decisions on behalf of financial services without obtaining the approbation of several otherwise staff members. This would ensure the receipt of cares response in a timely modality and greatly development the overall expertness of the audit process. As prove by the limited routine of progress meetings between internal audit and the auditee, it is apparent that there was a lack of understanding of the sizeableness of the issues being identified. Again, not keeping management of the audited department informed...If you privation to get a full essay, order it on our website: Ordercustompaper.com

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