How do I carry out Operational Audits surrounded by a commerce industry?
Could any tell me how they would shift about auditing these areas: Sales, Inventory and A/R surrounded by a manufacturing company similar to Seagate. l am going for a job interview tomorrow and l will be taking a audition on this. l have be doing audit for the past 11/2 yrs but contained by the financial industry. Please help! I really want this situation.
Answers: Yeah, I used to be Manager of Oper Auditing for a mfg co. a few years back. One of the most nice and interesting jobs I ever have!
Start your initial interviews with: the freedom of the audit- what, when, how, etc.
But the real switch to success lies here: Then interview knob management personnel. In these interviews, by a few pertinent question, you are looking to find out what CONTROLS have be established and put in place to provide assurance of an mediocre level of internal control, safeguard, and compliance near key policies/procedures
Some examples of CONTROLS are: is here a good set of written policies and procedures, a system of checks and balance, is there a system for moral communication upward and downward, have responsibilities and accountabilities be clearly defined and understood by switch people, is at hand a solid organizatoin for accountability/delegation of duties, etc.
Then in the auditing, you simply create a few tests of actual transactions to determine 1) whether the controls they told you going on for are actually within place, and 2) are they actually person followed, ie what is the degree or rank of compliance. It is best thought of as a sort of procedural auditing.
If test results are right, don't go further. If try-out results are bad, expand and progress further to see if there is a legitimate disconnect somewhere or was the preview just an isolated instance.
Hope this help, and good luck, Bill (Mule)
ps to Sady:
I am Curious to know how your interview go??
Was this information not what you were looking for??
The second tests you will requirement to complete for inventory is to develop a sample plan and in reality complete test accounts of the a range of inventory numbers.
If you randomly choose member number XA-5643 and the computer says they are supposed to own 24 in stock - you will hold to verify this is true.
It becomes more complex when the vote they have 25,000 screw in stock. This would be verified via a solidity measurement.
This method can be used for adjectives inventories which would include Raw Materials; Work in Process (WIP) and Finished Goods.
If the Finished Goods are off-site, you may hold to verify them at another location - depending on Company policy.
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Answers: Yeah, I used to be Manager of Oper Auditing for a mfg co. a few years back. One of the most nice and interesting jobs I ever have!
Start your initial interviews with: the freedom of the audit- what, when, how, etc.
But the real switch to success lies here: Then interview knob management personnel. In these interviews, by a few pertinent question, you are looking to find out what CONTROLS have be established and put in place to provide assurance of an mediocre level of internal control, safeguard, and compliance near key policies/procedures
Some examples of CONTROLS are: is here a good set of written policies and procedures, a system of checks and balance, is there a system for moral communication upward and downward, have responsibilities and accountabilities be clearly defined and understood by switch people, is at hand a solid organizatoin for accountability/delegation of duties, etc.
Then in the auditing, you simply create a few tests of actual transactions to determine 1) whether the controls they told you going on for are actually within place, and 2) are they actually person followed, ie what is the degree or rank of compliance. It is best thought of as a sort of procedural auditing.
If test results are right, don't go further. If try-out results are bad, expand and progress further to see if there is a legitimate disconnect somewhere or was the preview just an isolated instance.
Hope this help, and good luck, Bill (Mule)
ps to Sady:
I am Curious to know how your interview go??
Was this information not what you were looking for??
The second tests you will requirement to complete for inventory is to develop a sample plan and in reality complete test accounts of the a range of inventory numbers.
If you randomly choose member number XA-5643 and the computer says they are supposed to own 24 in stock - you will hold to verify this is true.
It becomes more complex when the vote they have 25,000 screw in stock. This would be verified via a solidity measurement.
This method can be used for adjectives inventories which would include Raw Materials; Work in Process (WIP) and Finished Goods.
If the Finished Goods are off-site, you may hold to verify them at another location - depending on Company policy.