Audit Process
- Planning - Gain an understanding of the organization's mission, goals, and processes, and research relevant laws and regulations.
- Notification - Notify the department of the upcoming audit and its purpose.
- Opening Meeting - Discuss and formulate audit objectives.
- Fieldwork - Perform analytical procedures and tests of selected transactions, as well as interview department personnel.
- Report Drafting - Present draft audit report and recommendations for discussion.
- Management Response - Request management responses to recommendations and incorporate responses into draft report.
- Closing Meeting - Provide an opportunity to discuss the draft report and recommendations prior to final report issuance.
- Finalize Audit Report - Issue final audit report.
- Follow Up - Review status of management's action plans within one year after final report issuance, if applicable.
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