Each edition of Audit Tips highlights good practices and provides practical advice for performance auditors on a selected theme.
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Public sector auditors are used to building their audit programs on the changing realities of their organization. Risks are used to identify audit topics that are more likely to require assurance and advice on corrective measures which could be used by management, oversight bodies, and stakeholders.
In this Audit Tips, we provide risks to consider when conducting audits in the post-COVID-19 environment
Sampling is the selection of a subset of the totality of elements that could be analyzed, called the population. It can be generalizable, i.e., drawn randomly in order to efficiently extrapolate the results to the population, or purposeful, i.e., based on a rational argument linked to the audit objective, in order to provide insights on the nature or cause of a problem. The following success factors contribute to optimize your sampling approach and minimize your risks that the sampling procedures performed will not detect a significant deviation.
In this Audit Tips, we provide 4 tips to optimize your sampling approach and minimize your risks that the sampling procedures performed will not detect a significant deviation.
Sampling is the selection of a subset of the totality of elements that could be analyzed, called the population. It can be generalizable, i.e., drawn randomly in order to efficiently extrapolate the results to the population, or purposeful, i.e., based on a rational argument linked to the audit objective, in order to provide insights on the nature or cause of a problem. Using sampling can be a useful evidence collection strategy when conducting a performance audit.
In this Audit Tips, we provide 5 tips that you should consider when deciding whether and how to use sampling in your next performance audit.
Audit standards require auditors to collect sufficient appropriate evidence to support their conclusions. To demonstrate that this requirement has been met, it is common practice for audit teams to prepare substantiation files that present, for each section of a performance audit report, the relevant evidence that was collected and explain how this evidence supports the conclusions reached.
In this Audit Tips, we provide 8 tips that will help performance auditors to prepare substantiation files that are clear, complete, and easy to review.
In today’s digital environment, all connected assets are at risk of being hacked. For this reason, public sector organizations must remain hyper-vigilant and implement the latest good practices in IT risk management to protect their IT assets from unauthorized access and to prevent the use, disclosure, disruption, modification, review, and destruction of the information they contain.
Internal and legislative auditors can support public sector organizations by providing independent assurance about whether cybersecurity risks are well managed. This Audit Tips edition presents 10 key cybersecurity risk areas that should be considered for audit.
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