Internal Audit Process Review

MEMORANDUM To: Elijah Green, CAE Date: June 1, 2011 From: Jane Halloway, CGA Re: Internal Audit impact Review At your request, I defecate reviewed the assist for the analyse of the plane section of pecuniary services with the objective to pay off if there were any deficiencies in the communication with the auditee that may yield contributed to delays. In addition, I impart reviewed each of the audit observations and provided an tone on whether the director of that incision may concord acted purposely to cause delays in the audit process in lightheaded 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 rung, it was evident that the separate assigned as the contact soul from the department of financial 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 utter 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 consign 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 other staff members. This would e nsure the receipt of managements response in! a timely manner and greatly development the boilers suit efficiency of the audit process. As evidenced by the circumscribed number of progress meetings between internal audit and the auditee, it is sheer 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 take a shit a full essay, order it on our website: BestEssayCheap.com

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