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Morales, Christine Joy D.

[3rd Year- BSA]


2105 Operations Auditing

Audit Plan

Audit Purpose:
● The purpose of the audit is to provide assurance that training and learning activities align
with corporate priorities, are adequately controlled, and are delivered efficiently and
effectively.
Audit Scope:
● Audit firm was hired by a multi-national oil company, with multiple subsidiaries, to
provide inhouse training focused on internal controls to 60 key accounting and audit
executives and managers.
● The company also requires you to assist them in developing a detailed company-wide
internal control implementation plan.
● Audits consist of 3 to 5 months of work

Statement of Conformance
The Audit of Learning and Training conforms with the Internal Auditing Standards for the
Government of Philippines as supported by the results of the quality assurance and
improvement program.

Internal Audit thanks management and staff for their assistance and cooperation throughout
the audit.

Christine Joy D. Morales


Chief Audit Executive & Director General, Performance and Accountability
Philippine Muliti-National Oil Company
Management agrees with the conclusion of the audit.

Mekenny Reyes
Director General, Multi-National Oil Company
Philippine Multi-National Oil Company

Jolly Fowler
Chief Financial Officer/Vice President, Resource Planning and Management
Philippine Multi-National Oil Company

Audit Process:
The audit process consists of inspection, data collection, inquires with employees, review of
documents, etc.
Stages Deliverables Estimated hours

Risk Assessment: ● Compliance checklist ● 365


● Understanding of ● Training risk checklist
client business ● Suggestions
● Scrutinize financial
statements to
identify the risk of
material
misstatement

Further Audit Procedures: ● compile a list, or ● 547.5


comprehensive
● Catalog Your Training catalog, of all the
training programs you
Programs
have developed to
● Analytical review conduct a thorough
● Inquiry audit, as well as all
● Observation the training programs
● Inspection your learners can
● Recalculation access via your
learning systems and
platforms.
● Evaluate their
knowledge COSO
framework by giving
them
● Audit Evidence
● Resulting Documents
from the
implementation of
the audit procedures
● Auditors Calculation
● Statements by
independent parties

Reporting: ● Draft Report ● 365


● Draft Report ● Final Report
● Follow-up meeting
● Discussion on risk and
recommendations
● Incorporation of
comments (if any)
● Final Report

Conclusion:
We expect to submit our final report for this audit by 3 to 5 months. Our findings and
recommendation will be discussed with the management before the submission of the final
report.

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