Audit-l is sponsored by Audit Leverage (IAD Solutions, Inc.) www.auditleverage.com ***************************************
Go to www.isaca.org. They are the governing body over most IS/IT Audit standards and sponsor the CISA cert. On the site you will find the standards for risk assessment which includes a detailed answer to your question. Paul B. Hugenberg III, C.I.S.A. Information Technology Audit Officer Sky Financial Group 60 East Main Street (SLV-AUD) Salineville, Ohio 43945 Phone: 330.679.2328 x2190 Fax: 330.679.2387 mailto:[EMAIL PROTECTED] Let me explain why Sky should be your choice for your Home Equity Line or Home Equity Loan! -----Original Message----- From: Virginia Kaimu [mailto:[EMAIL PROTECTED]] Sent: Monday, April 08, 2002 8:27 AM To: '[EMAIL PROTECTED]' Subject: RE: Internal Audit key performance indicators Audit-l is sponsored by Audit Leverage (IAD Solutions, Inc.) www.auditleverage.com *************************************** Hi Joseph, Lauri, What risk factors did you use for rating risks (high/ low/ medium) in the various departments/ functions? Warm regards Virginia Kaimu Tel: 09-264-61-2997087 Fax: 09-264-61-2997104 email: [EMAIL PROTECTED] -----Original Message----- From: [EMAIL PROTECTED] [SMTP:[EMAIL PROTECTED]] Sent: 08/mm/2002 01:35 To: [EMAIL PROTECTED] Subject: Re: Internal Audit key performance indicators Audit-l is sponsored by Audit Leverage (IAD Solutions, Inc.) www.auditleverage.com *************************************** All - In our futures exchange environment, we have done a developed a similar "risk tier." A three year audit plan address all departments at least once with the clearing house (our area of highest risk) revisited multiple times. Each department has been assigned an overall risk (Hi Med Lo) compared to the rest of the organisation. As we do each departmental audits, we identify the core functions and assign risk to each function. If time is an issue (isn't it always?) we may only perform testing on the higher areas of risk. Sign-off by Business Risk as well as each department manager helps us ratify and support these decisions to our board. Cheers - Lauri Martin Audit & Control Analyst SFE Corporation Limited +612 9256 0625 [EMAIL PROTECTED] Sent by: To: [EMAIL PROTECTED] [EMAIL PROTECTED] cc: uditnet.org Subject: Re: Internal Audit key performance indicators 06/04/02 23:50 Please respond to Audit-L Joseph: A few years ago my Audit Committee wanted a "greater presence" throughout the organization. To achieve this we decided to limit time on any audit & do a two tier risk assessment. First we risk assessed to determine where & overall what we audited each year of our 5 year plan. Then we went to these departments or operations and did another risk assessment to determine what to cover with each audit. Took some extra work up front, but saved us time in the end and provided a real risk focused audits & results. Anyone else ever take this approach? Share your results & opinions? Thanks, Ron Keister, CIA, CPA In a message dated 04/05/2002 3:01:49 PM Eastern Standard Time, [EMAIL PROTECTED] writes: I agree with you Tracey, except in approach. You note that to add value your projects are much bigger and all encompassing. I think for a risk based approach to work, the audits performed are becoming more specific and directed. I think that large projects tend to reduce the effectiveness of an auditors time because you are not focusing in on the problem at hand. I tend to break up large projects into multiple auditable units and then apply my risk criteria to the pieces and focus on those with higher risk. This is all probably because I have only a two man staff and time is what I am measured on. Thanks. Joseph A. Rychalski Director, Internal Audit Development Corporation for Israel 646-319-4512 212-446-5828 __________________________________________________________________________ This e-mail is confidential and is intended for the addressee only. If you are not the intended recipient any use, disclosure or copying of this e-mail is prohibited. If you have received this e-mail in error, please notify the sender immediately by reply e-mail and delete this e-mail from your system. Audit Leverage is a department management software package that integrates and automates the entire audit process. This comprehensive package includes risk assessment, audit planning, budgeting, staffing, scheduling, timekeeping, automated work papers, audit findings & recommendations, reporting and audit follow-up. Audit Leverage allows auditors in the field to work off-line and dial in to synchronize their work with the Audit Leverage database on the network, enabling managers to review the work papers instantly without being at the job site. Demo available at www.auditleverage.com If your organization would like to sponsor this discussion list send an e-mail to [EMAIL PROTECTED] for information. 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Audit Leverage allows auditors in the field to work off-line and dial in to synchronize their work with the Audit Leverage database on the network, enabling managers to review the work papers instantly without being at the job site. Demo available at www.auditleverage.com If your organization would like to sponsor this discussion list send an e-mail to [EMAIL PROTECTED] for information. To unsubscribe to the Audit-l list send an e-mail to [EMAIL PROTECTED] Leave the subject line blank and include the following message in the body: Unsubscribe audit-l (yourname) Thanks, Jim Kaplan List Manager Audit Leverage is a department management software package that integrates and automates the entire audit process. This comprehensive package includes risk assessment, audit planning, budgeting, staffing, scheduling, timekeeping, automated work papers, audit findings & recommendations, reporting and audit follow-up. Audit Leverage allows auditors in the field to work off-line and dial in to synchronize their work with the Audit Leverage database on the network, enabling managers to review the work papers instantly without being at the job site. Demo available at www.auditleverage.com If your organization would like to sponsor this discussion list send an e-mail to [EMAIL PROTECTED] for information. To unsubscribe to the Audit-l list send an e-mail to [EMAIL PROTECTED] Leave the subject line blank and include the following message in the body: Unsubscribe audit-l (yourname) Thanks, Jim Kaplan List Manager
