Internal Audit

The Internal Auditor checks that

procedures in the Quality Manual are
being followed and identifies any
areas of concern to be rectified.
Netrack has a procedure for how
audits are planned, conducted and
recorded.

External Audit
The
external
auditors
primary
responsibilities are to:
1. identify items that have a reasonable
possibility
of
causing
the
financial
statements to be materially misstated;
2. design and execute tests to determine
whether misstatements have occurred; and
3. test the effectiveness of internal control
over financial reporting.

Addressing the Audit

Findings
Step 1: Discuss any initial operational or financial
concerns
Step 2: Discuss audit findings with management
as they are identified, and well before the issue of
the audit report, to obtain feedback and assess
managements proposed course of action
Step 3: Implement corrective action and retain
documentation on the implementation and results.