Details

Beyond Audit


Beyond Audit

Auditing Remotely and Delivering Value
Wiley Corporate F&A 1. Aufl.

von: Robert L. Mainardi

38,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 02.03.2021
ISBN/EAN: 9781119789628
Sprache: englisch
Anzahl Seiten: 256

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

<p><b>Your game plan for strategic success in today’s remote audit department</b></p> <p>Beyond Audit is your guide to taking advantage of this unique moment to review and enhance your audit methodology to improve execution, operations, and audit product. Change has been thrust upon the audit industry, and every company must adapt to business interruptions and remote work environments. Now is the perfect time for audit departments to step back and turn a critical eye on their own operations. We have an opportunity to identify new ways of increasing product offerings and building more effective and efficient operations, ultimately creating better results for our partners and clients.</p> <p>This book will take you from a foundational understanding of the business environment through to a reflective review of your own operational effectiveness and efficiency. You’ll gain access to the Audit Risk Barometer (ARB), an innovative self-assessment tool that scores audit department strengths and opportunities for improvement. This book also includes a detailed methodology for working with your business partner to ensure clear identification of business objectives. You’ll also learn how to identify “true process risks” to ensure that testing remains focused and adds value. Finally, you'll learn critical skills and team development ideas for every level.</p> <ul> <li>Gain a fundamental understanding of today's business environment and how traditional and remote auditing fits into the new business puzzle</li> <li>Use the exclusive Audit Risk Barometer to conduct a valuable self-assessment and uncover your team’s strengths and weaknesses</li> <li>Learn how to effectively and efficiently work with your business partner to identify objectives and value-add opportunities</li> <li>Access online resources, including video summaries and interactive tools to revamp your audit department</li> </ul> <p>Beyond Audit incorporates links to online video summaries, templates mentioned throughout the book, interviews with experienced professionals, and an audit tracking software tool. This book is an enormously valuable resource for audit teams of any size and shape.</p>
<p>Preface xi</p> <p>Acknowledgment xv</p> <p>About the Author xvii</p> <p><b>Chapter 1: What Happened 1</b></p> <p>Audit Execution Challenges 2</p> <p>Understanding Your Role 5</p> <p>Critical Meeting Keys 7</p> <p><b>Chapter 2: Understanding the Remote Approach 11</b></p> <p>Traditional versus Remote Audit 11</p> <p>Recognizing the Challenges 14</p> <p>Responsibility Assignments 18</p> <p>Communicating Critical Information 19</p> <p>Audit Planning 22</p> <p>Audit Fieldwork 24</p> <p>Audit Reporting 25</p> <p>Audit Wrap-Up 26</p> <p><b>Chapter 3: Marketing the Internal Audit Department 29</b></p> <p>Creating Your Audit Brand 29</p> <p>Defining Internal Audit 30</p> <p>Internal Audit’s Three Pillars 32</p> <p>Explaining the Audit Phases 34</p> <p>Dispelling the Myths 38</p> <p><b>Chapter 4: Building an Effective Audit Team 41</b></p> <p>Beyond Audit Learning Map 42</p> <p>Skills Focus in the Remote Environment 44</p> <p>Remote Business Partner Meetings 49</p> <p>Agendas Drive the Meeting 50</p> <p>Audit Status Memos 53</p> <p>Remote Auditor Skills Profile 54</p> <p>Beyond Audit Development Plan 59</p> <p><b>Chapter 5: The Methodology – Objective Recognition 61</b></p> <p>Improving the Audit Process 61</p> <p>Beyond Audit – ORC Model 62</p> <p>Identifying the Business Objective 66</p> <p>Business Objective Identification Challenge 69</p> <p>Business Objective Identification in a Remote Audit 70</p> <p>Business Process Risks 73</p> <p>Business Process Controls 75</p> <p>Completing the Audit Planning 77</p> <p><b>Chapter 6: Audit Fieldwork 79</b></p> <p>Fieldwork Communication 82</p> <p>Fieldwork Responsibilities 84</p> <p>Workpaper Requirements 85</p> <p>Beyond Audit – Baseline Workpaper Components 86</p> <p>Sufficient Evidence 91</p> <p>Workpaper Self-Review and Keys 93</p> <p>Beyond Audit – Top 10 Keys to Managing Fieldwork 93</p> <p><b>Chapter 7: The Methodology – Partner Results 101</b></p> <p>Communicating Audit Results 101</p> <p>Understanding the Audit Report Phase 102</p> <p>Audit Report Foundation 104</p> <p>Beyond Audit – Issue Discussion Keys 105</p> <p>Audit Reporting throughout an Audit 106</p> <p>Effective Internal Audit Report Components 107</p> <p>Audit Report Challenges 119</p> <p><b>Chapter 8: Internal Audit Value 121</b></p> <p>Defining Real Action 122</p> <p>Steps in Creating an Action Plan 125</p> <p>Action Plan Adoption Process 130</p> <p>CA Methodology Overview 132</p> <p>Action Plan Tracking 137</p> <p><b>Chapter 9: Internal Audit Dashboards 141</b></p> <p>Dashboard Defined 142</p> <p>Beyond Audit – DDIO Methodology 144</p> <p>Audit Dashboard Functions 154</p> <p>Audit Dashboard – Lessons Learned 159</p> <p><b>Chapter 10: Communication Focus 161</b></p> <p>Understanding the Communication Model 162</p> <p>Message Delivery 165</p> <p>The Value of Listening 168</p> <p>Beyond Audit Advisor Approach 169</p> <p>Internal Audit Relationships 173</p> <p>Beyond Audit – Internal Audit Marketing 178</p> <p>Beyond Audit – Meeting Facilitation Keys 179</p> <p><b>Chapter 11: Analyzing Internal Audit 181</b></p> <p>Beyond Audit – ARB Methodology 182</p> <p>ARB Conclusion 197</p> <p><b>Chapter 12: How Good Is Audit? 199</b></p> <p>Introducing the Top Ten 200</p> <p>Creating an Action Plan 220</p> <p><b>Chapter 13: Focused on Learning 221</b></p> <p>Remote Learning 222</p> <p>Index 227</p>
<p><b>ROBERT L. MAINARDI</b> is the Founder of Beyond Audit (formally Mainardi & Associates), a firm that develops, facilitates, and administers custom training programs in auditing and risk. He was formerly a Vice President with Penn Mutual Life Insurance where he managed audit operations, staff, and business relationships for the life, brokerage, investment, and trust and mutual fund businesses.</p>
<p>Change has been thrust upon the audit industry and every company must adapt to business interruptions and remote work environments. Now is the perfect time for audit departments to take a step back and cast a critical eye on their own operations, seeking ways to improve product offerings and identify efficiencies.</p><p>In <i>Beyond Audit: Auditing Remotely and Delivering Value</i>, accomplished audit leader and author Robert L. Mainardi delivers a detailed guide of how audit departments must adjust their audit approach and execution in the post-COVID-19 business landscape. It emphasizes that a different skill focus for audit teams is necessary and that those teams must develop and change as they learn to audit from remote locations, while retaining their ability to strategically and effectively identify the most critical controls to be examined.</p><p>The book will take auditors from a foundational understanding of the current status of the new business environment and walk them through a reflective review of their own operational effectiveness and efficiency. It includes a detailed methodology to be followed, from planning to action item development, to ensure clear identification and agreement with the busines partner of the business objectives and corresponding “true process risks.”</p><p>You’ll learn about the Audit Risk Barometer, an innovative self-assessment tool that scores and scales individual audit department strengths and opportunities for improvement. You’ll also find links to online video summaries, interviews with experienced professionals, template explanations, technique comparisons, and recommendations for topics discussed in each chapter.</p><p>Perfect for audit teams of any size and shape, <i>Beyond Audit</i> is an invaluable resource for anyone seeking to gain a fundamental understanding of today’s business environment and how traditional and remote auditing fits into the new business puzzle.</p>
<p>A One-Stop Game Plan for Strategic Success in the Remote Audit Environment</p><p><i>Beyond Audit: Auditing Remotely and Delivering Value</i> offers auditors a complete and insightful set of tools to improve your audit methodology and enhance execution, operations, and audit product. You’ll learn to identify new ways of increasing product offerings and building more effective and efficient operations, creating better results for your partners and clients.</p><p>Beginning with a foundational overview of the new business environment (post-COVID-19) and moving you through a reflective review of your own operational efficacy and efficiency, you’ll find a detailed methodology for working with your business partners to ensure clear identification of business objectives.</p><p>You’ll also discover the Audit Risk Barometer, an innovative self-assessment tool that scores your audit department’s strengths and weaknesses, revealing new opportunities for improvement. In addition, you’ll discover how to identify “true process risks” to make sure your testing remains focused and adds value, as well as critical skills and team development ideas for audit groups of all shapes and sizes.</p><p>Ideal for audit teams of any size or in any industry, <i>Beyond Audit</i> delivers a foundational understanding of the modern, post-COVID-19 business environment and shows you how traditional and remote auditing fits with the objectives and goals of your business partners.</p>

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