Internal Audit Process Review

MEMORANDUM To: Elijah Green, CAE Date: June 1, 2011 From: Jane Halloway, CGA Re: Internal Audit treat Review At your request, I defecate reviewed the assist for the visit of the plane section of pecuniary services with the objective to reconcile if there were any deficiencies in the communication with the canvassee that may demand contributed to delays. In addition, I restrain reviewed each of the audit observations and provided an ruling on whether the director of that incision may arouse acted advisedly to cause delays in the audit process in take fire 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. After interviewing the audit ply, it was evident that the several(prenominal) assigned as the contact soul from the department of monetary services was the wrong person. The assistant to the director would not have had sufficient knowledge of the internal control material in comparison to the department manager. By her own admission, the assistant had let the cat out of the bag 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 lead auditor is partially to load as she should have insisted that an individual with knowledge and understanding of controls should be assigned. The contact person should be capable of making decisions on behalf of financial services without obtaining the approbation of several oth er staff members. This would ensure the rec! eipt of managements response in a timely manner and greatly development the overall efficiency of the audit process. As evidenced by the extra number of progress meetings between internal audit and the auditee, it is observable that there was a lack of understanding of the sizeableness of the issues world identified. Again, not keeping management of the audited department informed...If you privation to withdraw a full essay, order it on our website: BestEssayCheap.com

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