Professional Documents
Culture Documents
NOTE: THIS STUDY HELP WAS DESIGNED TO GUIDE YOUR STUDY EFFORTS.
IT IS NOT INTENDED TO BE A LIST OF EVERYTHING ON THE EXAM.
ANALYTICAL PROCEDURES
1. Definition
2. Uses of analytical procedures
1
PLANNING THE INTERNAL AUDIT
1. Establishing audit objectives – Based on Primary Objectives of Internal Control
(Standard 2120):
A – Achievement of the organization’s strategic objectives
R - Reliability and integrity of financial and operational information
E - Effectiveness and efficiency of operations
S - Safeguarding assets
C - Compliance with laws, regulations, and contracts
2. Scope
3. Expected outcomes and deliverables
4. Understand the auditee, including auditee objectives and assertions
a. Opening Conference
b. On-Site Tour
c. Document Study
2
INTERNAL CONTROL
1. COSO and IIA definitions of internal control
2. Internal control roles and responsibilities
3. Limitations of internal control
4. Classification of controls
a. Based on level of control
b. Based on importance
5. Types of controls
a. Preventive
b. Detective
c. Corrective
d. Directive
e. Compensating/complementary
OTHER
1. Case - Ocean County’s Procurement Audit
2. All aspects of your audit project up to this point
READINGS
(Only the readings on this list are subject to inclusion on the exam)
1. “A Glimpse of the Future,” Internal Auditor, Jun 2013, 51-55
2. “Improving Client Relations,” Internal Auditor, Oct 2009, 19-21.
3. “A Solid Understanding of Risk,” Internal Auditor, Jun 2013, 21-25.
4. “Risk Innovation,” Internal Auditor, Feb 2012, 49-52.
5. “COSO 2013,” Internal Auditor, Aug 2013, 60-65.
6. “Write Your Own Stinking Procedures,” Internal Auditor, June 2015, 69.
7. “Audit Evidence,” Internal Auditor, Feb 2009, 19-20.
8. “Becoming a Better Interviewer,” Internal Auditor, Jun 2013, 64-69.