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operational audit (Unit 3. The Operational Audit Process - Part A (Phase I…
operational audit
Unit 3. The Operational Audit Process - Part A
Phase I: Preliminary Study.
Information Collection
Background
Legal Framework
Organization
Operations
Financing
Control
Additional Information
Phase II: Understanding the Audited Entity.
Minimum Activities to Understand the Audited Entity
Determine why the entity was created
Determine if the initial objectives have changed
Clearly determine the primary mission of the entity
Determine the operations or activities of importance
Clearly determine the legal regulation
Review only documents that contain general provisions
Planning and Programming the Audit
The planning and programming of the work of an operational audit is carried out in
Progressively, to the extent that each of the five phases is being executed
of process.
Phase III: Identification and Selection of Critical Areas.
Basic Aspects
Internal Operational Control
Objective Development
Measurement of Results
Comparison of Actual or Actual Performance with Objectives and Goals
Proposals
Analysis of the Causes of Different Deviations
The Determination of Appropriate Management Action
The Taking Action
Continuous Review
Weak or Critical Areas Selection
Unit 2. The Operations Auditor
Overall responsibility.
The operations auditor has the responsibility to help both management
operational as in general.
Responsibility for Policies and Procedures
• Consistency
• Adequacy.
• Compliance
• Effectiveness
Attributes
Curiosity
Persistence
Adaptability.
Constructive
Business sense.
Cooperation.
Status in the Organization.
It is essential that the operational auditor has the possibility of dealing equally with the
chief operating officer (not as a subordinate trying to persuade him that he is
able to help you).
Relationship with Independent Auditors: It is difficult for operational personnel without financial records to distinguish between the work of the internal operations auditor and that of the independent auditor.
Ratings.
An operational history may be desirable in the operational audit, but not
indispensable.
Unit 1. Genesis of the Operational Audit
Nature of the Operational Audit.
Thinking System
Relationship with Internal Audit
Definition of the Operational Audit.
The Operational Audit is the independent valuation of all the operations of a company,
Objectives of the Operational Audit.
Control Evaluation
Performance Evaluation
Management Assistance
Need for an Operational Audit.
By competition
By senior management
The Importance of Operational Audit
The operational audit is important because it is the instrument of subsequent control
about the administration in general.
Unit 4. The Operational Audit Process - Part B
The Audit Report
Report Content
Synthesis or Summary (Executive Summary)
Introductory Information
Audit Results (Operational Audit Findings)
Annexes
New Issues
The operational audit is beginning to be recognized by the general public.
New Techniques
Current auditors have many sophisticated techniques to help
Directors
Phase V: Communication of the Results of an Operational Audit
Basic Aspects of the Communication of Results
The operational auditor must communicate the results of his examination, verbally
during the course of the fourth stage, to obtain the point of view of
company officials
Phase IV: Detailed Review of Critical Areas
Activities that comprise the Detailed Review of Critical or Weak Areas
Audit Programs for the Examination of Critical Areas
Characteristics of the Operational Audit Find
The Condition
The Criterion
The Effect
The Cause
Conclusions and Recommendations on HAO
The Conclusion
Recommendations
Proof of the Evidence of the Evaluation of the HAO in Papers of
Work
Working Papers in Operational Audit
ID cards
Documents
Utility of Work Papers
Work Paper Preparation Standards
Index
Brands
Work Paper Archive
.