Transcription of AUDIT PROCESS FLOWCHART - Montgomery College
1 AUDIT PROCESS FLOWCHART . Phases of an AUDIT : Advanced Scoping Planning Fieldwork Reporting Monitoring Advanced Scoping & Planning Fieldwork Activities Reporting Activities Chief auditor schedules audits for Conduct AUDIT kickoff meeting with Chief auditor develops draft final AUDIT upcoming year. Confirm with unit / client. Clarify PROCESS . Unit / program report and sends to client. program (client). orientation, planning memo. Finalize interview schedule. Client reviews report and provides Designate AUDIT team and third-party Perform fieldwork. Evaluate the risks, management responses to AUDIT auditors. Initiate advanced scoping. review the unit / program data, request recommendations (two weeks). additional data, hold meetings with key persons in unit / program. Conduct weekly briefings as needed. Chief auditor Final AUDIT Auditors perform risk assessment: reviews report issued gather external data, request internal Pre-closing management to client.
2 Exit background information, hold risk meeting to responses for conference interviews with client, and coordinate Develop AUDIT review draft relevancy and scheduled and schedule and logistics. results. results with appropriate clarify PROCESS client. risk mitigation for larger plan. distribution. Distribute auditor guidance material, Review results. Outline PROCESS for unit / program information, criteria, finalizing AUDIT report. checklists, and guideline to AUDIT Chief auditor distributes final AUDIT team. report to President. Client reviews Work-in- WIP report PROCESS (WIP). AUDIT team meeting to review and provides version of assignments, logistics schedule, and feedback and President authorizes final AUDIT report to AUDIT report AUDIT program/approach, risk control asks questions SALT, PEC, and/or BOT AUDIT Review sent to client. matrix. (1 week). Subcommittee.
3 Monitoring Activities (2). (1) (5) (6). Audited (3) (4). Internal AUDIT Internal AUDIT SVP reports department Internal AUDIT Internal AUDIT tracks Corrective communicates results of Internal updates CAP per conducts review reports on status Action Plans the acceptance AUDIT follow up review and follow- and analysis. of each CAP. (CAP). of risks. review to SALT. up. January 2021.
