ASSURANCE IN FINANCIAL AUDITING Table of contents_part7 ppt

A Handbook 145 QUAๆASSURANCE IN FINANCIAL AUDITING 3 Organisational Development ♦ Strategic Plan Same as above 4 Change Management ♦ Strategic Plan ♦ Activity Report ♦ Any Policy Document Same as above 7. External Stakeholder Relations QA Element Source Method 1 Audited Entities ♦ Communication Strategy ♦ Annual Audit Report ♦ Annual Activity Report ♦ Strategic Plan Document Review, Browsing, Interviews, and Focus Group Discussions 2 Parliament/Head of State/Head of Executive ♦ Annual Audit Report ♦ PAC Reports Document Review, Interviews, and Focus Group Discussions 3 Public ♦ Annual Audit Reports ♦ The RAA ♦ Media Document Review, Interviews, and Focus Group Discussions 4 Peers ♦ Annual Audit Reports ♦ Annual Activity Reports ♦ Media Same as above 5 Donors ♦ Assessment Reports conducted by Donors, Peers etc. Document Review and Interviews 6 International Organisations ♦ Annual Audit Reports ♦ Annual Activity Reports ♦ Websites & Media Document Review, Browsing, and Interviews 7 Media Same as above Same as above 8 Professional and Academic Institutions Same as above Same as above 8. Results QA Element Source Method 1 Output (Quality, Quantity) ♦ Annual Audit Report of the RAA ♦ Performance Report of SAI Document Review, Browsing, and Interviews This is trial version www.adultpdf.com A Handbook 146 QUAๆASSURANCE IN FINANCIAL AUDITING ♦ PAC Resolutions ♦ Parliament and other stakeholders 2 Impact ♦ Audit Follow Up Report ♦ Annual Audit Report ♦ Audit Performance Reports ♦ Auditees, PAC Members Document Review, Browsing, Interviews, and Focus Group Discussions This is trial version www.adultpdf.com A Handbook 147 QUAๆASSURANCE IN FINANCIAL AUDITING Appendix 4E DOCUMENT REVIEW GUIDING LIST OF DOCUMENTS TO BE USED DURING THE DOCUMENT REVIEW: INDEPENDENCE AND LEGAL FRAMEWORK • Constitution of the country with reference to articles referring to the external audit function; • Specific Audit Legislation; • By-laws and regulations; • Public Financial Management legislation; • Any other documents that could clarify the mandate and legal basis of the RAA HUMAN RESOURCE • Human Resource Management policy documents; • Conditions of service; • Minimum qualification framework for new appointments; • Scheme of Service; • Performance Appraisal manual; • Recruitment and selection procedures; • Succession planning manual; • Promotion policy, rules and regulations; • Performance assessment results of the past 3 years per job level; • Copy of the organizational structure of the RAA; • Staff retention policy; • Promotion policy; • Career development policy; • List of qualifications of staff; • Assessment results of staff for the last three years; • Staff well being policy. AUDIT METHODOLOGY AND STANDARDS • Auditing standards of the RAA (all types of audits conducted); • Audit manuals and guides of the RAA (all disciplines); • Documents of the technical review process of the RAA; • Audit files (samples) of different types of the audit; • Audit reports (sample) of different types of the audit; • Documents relevant to audit tools used by the RAA. GOVERNANCE This is trial version www.adultpdf.com A Handbook 148 QUAๆASSURANCE IN FINANCIAL AUDITING • Annual report; • Strategic plan; • Operational plan; • Delegations and management framework; • Code of conduct of the RAA; • Quality Assurance manual; • Internal audit reports; • External audit report; • Report on the performance report (activity report); • Peer review reports (if any); • Self assessments (if any). CORPORATE SUPPORT • Budget; • Procedure manual for preparing a budget for the RAA; • Information Communication and Technology (ICT) strategic plan; • Asset register; • IT inventory; • Management Information System (MIS) manual; • MIS reports (sample). CONTINIOUS IMPROVEMENT • Training plan of the RAA; • Training manuals; • Training courses (sample); • Annual training reports; • List of research projects the RAA has approved for the next year/2 years; • Co-operation agreements with professional associations; • Continuous professional development (CPD) program of RAA; • Change management strategy of RAA. EXTERNAL STAKEHOLDER RELATIONS • Communication strategy; • Press release (sample); • Public Accounts Committee (PAC) (or similar body) reports and resolutions; • Previous assessment reports conducted by donors / peers / self assessment; • Stakeholder survey results; • Media clips; • Website address of RAA. RESULTS • Performance report of the RAA; • General report of the RAA; This is trial version www.adultpdf.com A Handbook 149 QUAๆASSURANCE IN FINANCIAL AUDITING • Activity report of the RAA; • Individual audit reports; • Bench marks in the RAA; • Constitutional review reports; • Public Accounts Committee (PAC) resolutions; • Peer review reports (if any); • Any sources that might indicate impact. This is trial version www.adultpdf.com A Handbook 150 QUAๆASSURANCE IN FINANCIAL AUDITING Appendix 4F PHYSICAL OBSERVATION INFRASTRUCTURES’ PHYSICAL OBSERVATION CHECKLIST Name of SAI: _________________________________________________________ Observation by: _________________________________________________________ Date :________________( dd/mm/yy) Instructions: The checklist questions below refer either to existence of material and infrastructure or appraisal of situations, things and behaviours. • When responding to Existence questions, please check yes or no cases (in Existence column). • When responding to an appraisal question (sufficiency, adequacy, convenience, human behaviours,) please check cases 1 to 5 in the ranking column. • (Notes: 1 - unacceptable, 2– poor, 3 - good, 4 - very good, 5 –excellent). • In case you have any remark, please post it in the appropriate remark column. Existence Ranking Remarks No Checklist description Yes No 1 2 3 4 5 A Physical work environment Offices convenience There is sufficient room space. Office rooms are well organised. Work areas are clean Work areas are tidy Work areas are free from sound. This is trial version www.adultpdf.com A Handbook 151 QUAๆASSURANCE IN FINANCIAL AUDITING Existence Ranking Remarks No Checklist description Yes No 1 2 3 4 5 Room temperature is adequate. Furniture is efficiently arranged. Lighting condition in work areas is adequate. Storage equipments exist for each staff. Storage spaces for each staff are adequate. Common space and commodities Waiting areas for visitors exist. Waiting areas for visitors are convenient. Drinking water facilities exist. Drinking water facilities are convenient. Rest rooms exist. Rest rooms are convenient. Parking facilities exist. Parking facilities are convenient. This is trial version www.adultpdf.com A Handbook 152 QUAๆASSURANCE IN FINANCIAL AUDITING Existence Ranking Remarks No Checklist description Yes No 1 2 3 4 5 Training room Training rooms exist. Training rooms are well equipped. Meeting rooms Meeting rooms exist. Meeting rooms are well equipped. Security Security checkpoint exists prior to offices access. Fire security exists. Location Departments/divisions/sections are efficiently located. Library and Archives Space is sufficient. Library is well organised. Access to library is easy. This is trial version www.adultpdf.com A Handbook 153 QUAๆASSURANCE IN FINANCIAL AUDITING Existence Ranking Remarks No Checklist description Yes No 1 2 3 4 5 Categories and numbers of books are sufficient. Library is clean. Permanent files exist. Audit Reports exist. Courseware exists. Borrowed materials are controlled and followed-up. Access to confidential information is controlled. B- Stationery, tools and equipments Stationeries Stationary for each staff member is sufficient. Technology Number of desktop computers and laptops is sufficient. Anti virus protection exists. Internet access for all the staff exists. Internet access is easy. This is trial version www.adultpdf.com A Handbook 154 QUAๆASSURANCE IN FINANCIAL AUDITING Existence Ranking Remarks No Checklist description Yes No 1 2 3 4 5 Intranet exists. Printers exist. Printers are sufficient. Printers are effective. Photocopying facilities exist. Photocopying facilities are convenient. Relevant software exists. Fax machines exist. Fax machines are effective. Telephone machines for internal communication exist. Telephone machines for internal communication are effective. Telephone machines for external communication exist. Telephone machines for external communication are effective. Control for minimizing misuse of computers and other costly equipments (Fax, international call, mobile phone, etc.) are This is trial version www.adultpdf.com [...]... after some review of documents pertaining, at least, to the structure and functions of the RAA HOW TO CONDUCT AN INTERVIEW Using the interview technique involves three stages: Planning the interview, conducting the interview and concluding and documenting Planning the interview The effectiveness of conducting an interview is directly related to the quality of planning that precedes it The interviewer should... 163 QUA ASSURANCE IN FINANCIAL AUDITING Conducting the interview Beginning the interview: Acquaint yourself with the interview guide and questions before arriving at the venue If it is a long questionnaire, identify priority questions, bearing in mind the other tools already used or to be used, the position of the interviewee in the organizational hierarchy, time available for the interview, etc Introduce... should plan meticulously before conducting an interview Following are some suggested steps for effective planning of an interview: Select the interviewer(s) possessing the interviewing skills Sometimes, a panel of interviewers may be used, with a mix of expertise In the latter case, bear in mind the risk that an interviewee may feel uncomfortable facing many interviewers at the same time Research the... obtaining the facts or other information pertinent to the purpose of the interview, and toward conserving time A skilled interviewer will guard against the interviewee’s discussing irrelevant matters to avoid answering questions or providing information on painful or disturbing topics This is trial version www.adultpdf.com A Handbook 164 QUA ASSURANCE IN FINANCIAL AUDITING Provide clear transition... version www.adultpdf.com A Handbook 155 QUA ASSURANCE IN FINANCIAL AUDITING Appendix 4G GUIDANCE DOCUMENTS RELATING TO FOCUS GROUP DEFINITION A focus group could be defined as a group of interacting individuals having some common interest or characteristics, brought together by a moderator / facilitator, who uses the group and its interaction as a way to gain information about a specific or focused issue... of surveys by identifying issues most relevant to potential respondents This is trial version www.adultpdf.com A Handbook 159 QUA ASSURANCE IN FINANCIAL AUDITING PRINCIPLES FOR DESIGNING FOR FOCUS GROUP MEETINGS 1 Define the terms used so that all respondents have the same understanding of what is being asked 2 Prepare the Focus Group script The script determines the content of the discussion within... with subordinates This is trial version www.adultpdf.com A Handbook 160 QUA ASSURANCE IN FINANCIAL AUDITING Appendix 4H INTERVIEW INTRODUCTION Conducting interviews is a common technique used for gathering information during needs assessments To ensure comprehensiveness of a needs assessment, interviews should be preceded by a survey and, if possible, complemented by the use of other data and information... Handbook 162 QUA ASSURANCE IN FINANCIAL AUDITING organizational structure That will enable the interviewer to elicit information from different perspectives and thereby provide a more holistic picture Depending on the capacity building domain being focused, it would be useful to interview representatives of external stakeholders of the RAA, for example, from some auditees, ministry of finance, public... when the appointment was made Thank the interviewee before closing the interview Prepare a memorandum of the interview discussions as soon as possible after the interview The memorandum should state the name of the RAA, the name and position of the interviewee, the name of the interviewer, venue of interview, date and time of interview It should record the key data and information resulting from each... gathering tools as well The results of the survey should feed into the interview It is important to recognise that the quality of the needs assessment is likely to be inadequate if only the interview tool is used for obtaining data and information on capacity building needs assessment WHAT IS AN INTERVIEW An interview is a data and information collection procedure in the form of a carefully planned set of . 156 QUA ASSURANCE IN FINANCIAL AUDITING Appendix 4G GUIDANCE DOCUMENTS RELATING TO FOCUS GROUP DEFINITION A focus group could be defined as a group of interacting individuals having some. Handbook 164 QUA ASSURANCE IN FINANCIAL AUDITING Conducting the interview Beginning the interview: Acquaint yourself with the interview guide and questions before arriving at the venue 162 QUA ASSURANCE IN FINANCIAL AUDITING It facilitates arriving at common understanding between interviewers and interviewee; Provided opportunity to obtain sensitive and confidential information