_____ ____ 1. Research the audit engagement and apply appropriate Auditors Standards and Code of Ethics
_____ ____ 2. Determine appropriate laws/regulations that govern this area: a. state law b. federal law c. guidelines d. Other - wage/hour, etc.
_____ ____ 3. Maintain an awareness of the potential for fraud, and when appropriate: a. Design audit steps to address significant risk of fraud b. Employ audit tests to detect fraud c. Determine if suspected fraud merits investigation
_____ ____ 4. Determine if the audit should be conducted under the attorney client privilege
_____ ____ 5. Establish the audit engagement's objective and scope
_____ ____ 6. Collect data a. Policies and procedures b. Preliminary surveys c. Meeting summaries d. Other relevant and useful information
_____ ____ 7. Evaluate the relevance, sufficiency and competence of data collected
_____ ____ 8. Analyze and interpret data collected
_____ ____ 9. Develop work papers
_____ ____ 10. Review of work papers
_____ ____ 11. Communicate interim progress with auditee
_____ ____ 12. Draw conclusions
_____ ____ 13. Report audit engagement results: a. Conduct exit conference b. Prepare draft report or other communication c. Approve draft report d. Obtain management's response to report e. Include management's response in final report
_____ ____ 14. Determine next steps: a. Monitoring b. Follow-up activity c. Other
_____ ____ 15. Issue final audit report a. Distribute to all participating departments up through Sr. VP level. b. Place