AUDIT WORK PROGRAM Page 1 of 2

RISK MANAGEMENT Oct-Dec 2002

DEPARTMENT Telephone Expense-RSM Period Covered:
Dept. / Division

AUDIT OBJECTIVES: To assess if telephone expenses by RSM are valid and properly spent and to determine compliance on policy
5J.01.14.

WP Done
By Date Comment
Ref Y/N?

1.) Planning
1.1 Determine & understand the related policies &
procedures/instruction manuals.
Reference # Procedures/Policies
5J.01.14 G&A Expense-Telephone Expense
7J.01.14 Schedule of Monthly Maximum Limits for Cellular
/Telephone Charges
1.2 Make a research through the internet about the best practices.
1.3 Determine the areas or function that may involve risk
1.4 Prepare and/or update the internal control questionnaire.

2.) Audit Fieldwork

1.1 Interview the concerned personnel.

2.2 Performed compliance audit

2.2.1 Obtain the monthly schedule of telephone allowance

and credit card file report for the 4 th quarter of 2002
from the Budget Analyst.

2.2.2 Check the schedule of monthly allowance if only

qualified personnel were entitled and verify if the
maximum limit set per Annex 7J.01.14 is strictly
followed. (ICQ #4)

2.2.3 Check if the charges for telephone allowance covers

only the actual call and does not include cost of the
unit and monthly subscription charge. (ICQ #5)

2.2.4 Examine the expense report and check whether

there are reimbursement made for telephone
expenses for RSMs.(ICQ# 6 & 1)

2.2.5 Check the billing statements and verify if all call

were for business only.

2.3 Prepare related working papers or schedules

2.4 Prepare recommendation to minimize if not eliminate the risk.
 AUDIT WORK PROGRAM Page 2 of 2

RISK MANAGEMENT Oct-Dec 2002

DEPARTMENT Telephone Expense-RSM Period Covered:
Dept. / Division

3.) Reporting

3.1 Prepare summary of audit findings / observations.

3.2 Discuss the preliminary audit findings to the appropriate process

owner/Dep’t/Div Head and obtain corrective actions.

3.3 Prepare preliminary Audit Report and submit to the immediate

superiors

3.4 Edit the reports and prepare final Audit Report

4) SUPERVISION, REVIEW AND CONCLUSIONS

a) Conclude responsive to the audit objectives.

b) Prepare points regarding internal controls and other business matters.
c) Perform senior review and supervision.
d) Clear senior review points.

PERFORMED BY REVIEWED BY:

Risk Management Assistant Risk Management Supervisor