book

Audit Planning: A Risk-Based Approach

by K. H. Spencer Pickett

August 2013

Intermediate to advanced

304 pages

7h 3m

English

Wiley

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INTRODUCTIONRISK-BASED AUDIT-PLANNING MODEL: PHASE ONERISK-BASED AUDIT-PLANNING MODEL: PHASE TWORISK-BASED AUDIT-PLANNING MODEL: PHASE THREERISK-BASED AUDIT-PLANNING MODEL: PHASE FOURRISK-BASED AUDIT PLANNING MODEL: FINALSUMMARYNOTES
INTRODUCTIONBASIC PLANNING MODEL: PHASE ONEBASIC PLANNING MODEL: PHASE TWOBASIC PLANNING MODEL: PHASE THREEBASIC PLANNING MODEL: PHASE FOURBASIC PLANNING MODEL: FINALSUMMARYNOTES

INTRODUCTIONCORPORATE RISK REGISTER MODEL: PHASE ONECORPORATE RISK REGISTER MODEL: PHASE TWOCORPORATE RISK REGISTER MODEL: PHASE THREECORPORATE RISK REGISTER MODEL: PHASE FOURCORPORATE RISK REGISTER MODEL: FINALSUMMARYNOTES
INTRODUCTIONANNUAL AUDIT-PLANNING MODEL: PHASE ONEANNUAL AUDIT-PLANNING MODEL: PHASE TWOANNUAL AUDIT-PLANNING MODEL: PHASE THREEANNUAL AUDIT-PLANNING MODEL: PHASE FOURANNUAL AUDIT-PLANNING MODEL: FINALSUMMARYNOTES
INTRODUCTIONENGAGEMENT PLANNING MODEL: PHASE ONEENGAGEMENT PLANNING MODEL: PHASE TWOENGAGEMENT PLANNING MODEL: PHASE THREEENGAGEMENT PLANNING MODEL: PHASE FOURENGAGEMENT PLANNING MODEL: FINALSUMMARYNOTES
INTRODUCTIONPROJECT MANAGEMENT PLANNING MODEL: PHASE ONEPROJECT MANAGEMENT PLANNING MODEL: PHASE TWOPROJECT MANAGEMENT PLANNING MODEL: PHASE THREEPROJECT MANAGEMENT PLANNING MODEL: PHASE FOURPROJECT MANAGEMENT PLANNING MODEL: FINALSUMMARYNOTES
INTRODUCTIONRISK FOCUS MODEL: PHASE ONERISK FOCUS MODEL: PHASE TWORISK FOCUS MODEL: PHASE THREERISK FOCUS MODEL: PHASE FOURRISK FOCUS MODEL: FINALSUMMARYNOTES
INTRODUCTIONHOLISTIC RISK-BASED AUDIT PLANNING MODEL: PHASE ONEHOLISTIC RISK-BASED AUDIT PLANNING MODEL: PHASE TWOHOLISTIC RISK-BASED AUDIT PLANNING MODEL: PHASE THREEHOLISTIC RISK-BASED AUDIT PLANNING MODEL: PHASE FOURHOLISTIC RISK-BASED AUDIT PLANNING MODEL: FINALSUMMARYNOTES
ASSESSING THE RBAP COMPONENT CHECKLIST

Content preview from Audit Planning: A Risk-Based Approach

6 PROJECT MANAGEMENT

Internal auditors should enhance their knowledge, skills, and other competencies through continuing professional development.

—IIA Standard 1230

INTRODUCTION

This chapter sets out some of the basics regarding project management as a complement to risk-based audit planning. Many auditors get involved in long-winded projects during their career but have no particular training at planning larger projects over and above the basic audit engagement planning that relates to smaller pieces of work. Sarbanes-Oxley, ERM, control frameworks, ethics initiatives, performance management schemes, value for money initiatives, CSA programs, contingency planning, and a whole assortment of emerging topics can be led by internal audit under the consulting role. In fact, there is a call for auditors to lead on Sarbanes-Oxley preparations:

Internal auditors frequently are skilled at managing large or complicated projects, ensuring key deliverables are produced on time. The internal auditor may be asked to take on the role of lead project manager for all or part of the efforts related to complying with Section 404. A project manager may generally be responsible for monitoring progress of a project, arranging for appropriate communication of project results during the project, and monitoring adherence to the established timetable. If the internal auditor's role is restricted to these administrative tasks, objectivity would not likely be impaired. However, if the project manager's ...