Audit Process

Although every audit is unique, the following audit process is similar to most engagements but may vary depending on the content or needs of the NDUS Internal Audit and the client.

Planning

Planning internal audit engagements involves gathering information on the activity being audited and assessing risk.  The focus of the audit will vary depending upon the nature of the engagement. During this phase you can expect the following:

• Audit Notification letter- the client is notified in writing when their area is selected for review.
• Entrance meeting- meeting with the management to discuss basic information and answer management questions.
• Engagement letter- announcement to the client of the scope, objectives, timing, and other information applicable to the engagement.

Fieldwork

During this phase, the internal auditor will perform audit program tests including, but not limited to, internal control questions, observation, inspection, confirmation, etc. to enable a reasonable basis for an opinion or conclusion about controls, compliance, performance, etc.

Reporting

At the completion of fieldwork, the auditor will draft a written audit report to communicate the results of the engagement. Every attempt will be made to ensure the report is accurate, objective, clear, concise, constructive, timely, and complete.  The report will include the engagement objectives and scope as well as applicable conclusions, recommendations, responses, and corrective action plans.  Reports go through a drafting and finalization process providing the opportunity for review, update and response.

• Preliminary Draft
• Draft for management response
• Official draft
• Final audit report

Feedback Survey

After the final audit report has been issued, a post-audit feedback survey will be sent where a client may rate our performance and their satisfaction with the audit process.

Follow-up

NDUS Internal Audit performs a limited follow-up to verify the completion of the audit recommendations, based on the proposed implementation date and updates provided by management on Audit Findings software.