What happens once an area is selected for an audit?
The Internal Audit Department prepares for the audit by planning the audit scope and objectives and becoming familiar with the area to be audited. Except for surprise audits, the auditee is always notified in writing prior to the start of the audit. An entrance conference may be scheduled to discuss the purpose and scope of the audit. The actual fieldwork may take from a few days to several weeks to complete. During our fieldwork, as well as at the conclusion of our fieldwork, we will discuss any findings or recommendations noted during the audit. A preliminary report is prepared and reviewed with the auditee. The auditee is then provided an opportunity to review the report and provide us with a written plan of corrective action that has been or will be taken addressing each of the recommendations made, if any.
