A. AUDIT UNIVERSE
1. Executive management involved
2. Strategic and technology plans used
3. How are auditable entities identified
4. IT systems, applications included as audit entities
5. Means used to define and describe the activities of each audit entity
6. Appropriateness of size and number of audit entities
7. Appropriateness of included audit entities
B. METHODOLOGY
1. Formal risk analysis of the organization
2. Supporting documentation
3. Calculations
4. Updates
1. Based on the analysis of risk
2. Coordination with the external auditors
3. Chief Audit Executive documents the planning process.
4. Plans approved by board of directors or responsible management officials
5. Plans adequately consider training, management requests, etc.
6. Appropriateness of audit plans
1. Number appropriate
2. Staffing analysis part of planning process
3. Number staff vs. internal audit department staffing analysis
4. If staff not adequate, process used to defer or reschedule reasonable & approved by board/executive management
5. Management/board made aware of the effects of the reduced audit coverage
Budgeting process follow the risk and planning process
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