Accounting Internal Audit
Procedure Form
This document outlines the internal audit procedure for our accounting department. The aim is to ensure compliance with our financial policies, the accuracy of our financial records, and the efficiency of our financial operations. This procedure is integral to maintaining the integrity and reliability of our financial reporting.
Objective
The objective of our internal audit procedure is to provide independent assurance that our risk management, governance, and internal control processes are operating effectively.
Scope
The scope of the internal audit procedure includes, but is not limited to:
Verification of financial transactions and records.
Assessment of internal control systems.
Evaluation of compliance with applicable laws and regulations.
Review of the efficiency and effectiveness of operations in the accounting department.
Procedure
Please complete all fillable fields as required and return to the audit department in accordance with the specified deadlines.
Planning
Description | Responsible Party | Due Date | Notes |
Identify areas to be audited based on risk assessment. | | | |
Develop audit objectives and scope. | | | |
Allocate resources and assign audit team members. | | | |
Schedule audit and notify departments involved. | | | |
Execution
Description | Responsible Party | Documentation Required |
Conduct opening meeting with relevant department heads. | | Meeting minutes |
Perform detailed audit procedures, including inspection, observation, and confirmation, as appropriate. | | Working papers, evidence collected |
Document findings and issues identified during the audit. | | Audit findings report |
Conduct closing meeting to discuss findings with department heads. | | Meeting minutes, preliminary findings |
Reporting
Description | Responsible Party | Due Date | Format |
Prepare draft audit report, including recommendations for improvement. | | | PDF/Word Document |
Review draft report with Audit Manager for approval. | | | |
Distribute final audit report to senior management and relevant department heads. | | | Email/Print |
Follow-up
Description | Responsible Party | Follow-up Date | Status |
Implement recommendations as per audit report. | | | Completed |
Conduct follow-up audit to verify implementation of recommendations. | | | |
Prepare follow-up report documenting the status of recommendations. | | | |
Confidentiality
All audit processes and results are confidential and should be handled with the utmost discretion. Only authorized personnel will have access to audit reports and findings.
Approved by:
[Your Name]
[Your Title]
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