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  • Internal Audit Roadmap Infographic

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    Zik Rozikin
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    The internal audit roadmap outlines the key steps to developing and executing an internal audit plan. This includes getting to know the business, assessing controls, developing the audit plan and charter, executing audits, gathering stakeholder feedback, and concluding audits by establishing remedial action plans. The roadmap provides structure and transparency to engage stakeholders and manage expectations throughout the audit process.

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    The internal audit roadmap outlines the key steps to developing and executing an internal audit plan. This includes getting to know the business, assessing controls, developing the audit plan and charter, executing audits, gathering stakeholder feedback, and concluding audits by establishing remedial action plans. The roadmap provides structure and transparency to engage stakeholders and manage expectations throughout the audit process.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    2K views1 page

    Internal Audit Roadmap Infographic

    Uploaded by

    Zik Rozikin
    The internal audit roadmap outlines the key steps to developing and executing an internal audit plan. This includes getting to know the business, assessing controls, developing the audit plan and charter, executing audits, gathering stakeholder feedback, and concluding audits by establishing remedial action plans. The roadmap provides structure and transparency to engage stakeholders and manage expectations throughout the audit process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    INTERNAL AUDIT ROADMAP

    A CLEAR OUTLINE OF THE INTERNAL AUDIT ROADMAP CAN HELP ENGAGE


    STAKEHOLDERS AND MANAGE EXPECTATIONS ALONG THE WAY

    ?
    ? EXECUTE INTERNAL AUDIT PLAN
    CONDUCT:
    Kickoff meeting
    Activities within agreed scope
    Work on time and on budget
    Issue identification and validation
    Issue tracking
    Audit progress and issue updates GATHER FEEDBACK
    GET TO KNOW THE 1 for auditees FROM STAKEHOLDERS
    BUSINESS 6 TO IMPROVE SERVICE IDENTIFY
    REVIEW: DELIVERY POTENTIAL
    Financial results IMPROVEMENTS
    Business and process
    documentation
    Meaning of industry- 2
    specific terms 7
    Risk inherent in business
    activities ASSESS CONTROL DEVELOP INTERNAL
    AUDIT PLAN
    ENVIRONMENT
    DOCUMENT: KEEP UP TO DATE 8
    ESTABLISH: WITH BUSINESS AND
    5
    ... ... Staffing Risk-based priorities
    Resource requirements REGULATORY NEWS CONCLUDE AUDIT,
    Regulatory obligations ESTABLISH REMEDIAL
    Regulatory reporting ACTION PLANS AND
    CONDUCT INTERVIEWS Risks due to strategy,
    3 ISSUE REPORT
    AND RESEARCH physical environment, IT,
    CONCLUDE:
    UNDERSTAND: financial crime, fraud,
    Closing meeting
    9
    Who the stakeholders are financial exposures and
    customers Action planning
    Incentives for risk taking
    DEFINE INTERNAL Draft report
    Current and anticipated
    Reviews
    business changes AUDIT CHARTER UPDATE RISK
    Financial/transaction
    4 Distribution of final report
    OUTLINE: ASSESSMENT AND Audit performance review
    significance trends Responsibilities INTERNAL AUDIT PLAN Audit certification & follow up
    Current control SLAs
    environment: resources, Expectations
    systems, processes, policies, Methodology
    and cultural changes Audit Universe

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