Operational Auditing Seminar

The initial discussions relate to what operational auditing is all about. Comparisons are made to financial and compliance auditing.

The importance of thinking like management (adding value, etc.), and bringing a new perspective to the "table" are also discussed.

Emphasis is placed upon designing a successful operational auditing plan consistent with the overall business plan. Several important topics are discussed, including audit risk assessment, internal controls, developing the operational audit program, gathering audit evidence, drawing conclusions and reporting of audit results.

OPERATIONAL AUDITING

Operational Audit Model

The Consultant

Customer Orientation

A New Perspective

Thinking Like Management
Adding Value

Effectiveness, Efficiency & Economy

Comparison

Operational
Compliance
Financial

Audit Universe/Risk Analysis

KEY INGREDIENTS NEEDED

Relationship to Other Internal Audit Objectives

Staff Requirements - Attributes & Disciplines

DESIGNING AN OPERATIONAL AUDIT PLAN

Establishing Objectives & Goals

Assertion Auditing

Goal Congruence
Management Functions
Specific Assertions

Internal Controls

Essential
Appropriately Selected
Properly Designed
Functioning
Effective, Efficient, Economical

Audit Universe

Audit Risk

Analytical Procedures

Audit Program

Audit Evidence

Drawing Conclusions

Decision Analysis

Reporting