Automating the Audit Process

Challenges Facing Internal Audit

Pressures on ResourcesPressures on Resources– Adding ValueAdding Value– Right SizingRight Sizing– OutsourcingOutsourcing

Cultural ChangesCultural Changes Geographic DispersionGeographic Dispersion Industry ConsolidationIndustry Consolidation Regulatory OversightRegulatory Oversight

Our Vision

Create a Fully Integrated ProcessCreate a Fully Integrated Process

Be Multi-DimensionalBe Multi-Dimensional– Whatever you need Whatever you need – Wherever you areWherever you are– Whenever you wantWhenever you want

Provide a Single Point of EntryProvide a Single Point of Entry

The Components

Automated PlanningAutomated Planning Automated WorkpapersAutomated Workpapers Automated Audit TrackingAutomated Audit Tracking Automated Audit ToolsAutomated Audit Tools

Automated Audit System

Windows-based tool:Windows-based tool: Scaleable from Win95 to Win 2008 ServerScaleable from Win95 to Win 2008 Server Supports mobile teamsSupports mobile teams Enables more effective team workEnables more effective team work Enhances productivityEnhances productivity

Automated Audit System Components

AuditTracking

CommentTracking

Regulatory Compliance

Workpapers

Time Keeping

Audit Planning

Risk Assessment

Reference

Application Integration

Lotus NotesLotus Notes Microsoft XP Microsoft XP

Microsoft ExcelMicrosoft Excel

Microsoft WordMicrosoft Word

allCLEAR FlowcharterallCLEAR Flowcharter

Mainframe / HostMainframe / Host

Lotus Notes Lotus Notes Database ServerDatabase Server

Auditor Workstations

Shared ResourcesShared Resources

WANWAN

Audit LAN

Connectivity

Remote ConnectionVPN

Audit Planning

Manager MeetingsManager Meetings

Grand Round MeetingsGrand Round Meetings

Risk Assessment

Risk Analysis DatabaseRisk Analysis Database

– Provides a corporate risk profileProvides a corporate risk profile

– Provides foundation for Multi-Year Audit PlanningProvides foundation for Multi-Year Audit Planning

Workpapers

Workpaper Database TemplateWorkpaper Database Template

– Standardizes the Audit ProcessStandardizes the Audit Process

– Provides instant access to all audit documentationProvides instant access to all audit documentation

– Automatically creates all “standard” audit Automatically creates all “standard” audit workpapersworkpapers

Audit Tracking

Audit TrackingAudit Tracking

– Provides a single Provides a single location for review of location for review of audit progress.audit progress.

– Simplifies monitoring Simplifies monitoring audit status, budgets audit status, budgets and deadlines.and deadlines.

Reference

Audit Services Operations ManualAudit Services Operations Manual Audit UniverseAudit Universe Audit ProgramsAudit Programs Audit ReportsAudit Reports Audit Committee ReportsAudit Committee Reports Audit Time/Expense TrackingAudit Time/Expense Tracking Audit Follow-up TrackingAudit Follow-up Tracking Audit Text/GraphicsAudit Text/Graphics

Regulatory Compliance

FASB PronouncementsFASB Pronouncements GAAP & GAAS GuidelinesGAAP & GAAS Guidelines External CommentsExternal Comments Healthcare RegulationsHealthcare Regulations

MedicareMedicare HCFAHCFA NYSDOHNYSDOH

Tracking Report Comments

Follow-up Tracking DatabaseFollow-up Tracking Database

– Ensures adequate and timely Ensures adequate and timely resolution of Audit Findingsresolution of Audit Findings

– Interfaces with Business Line Interfaces with Business Line ManagementManagement

Time Keeping

Time Keeping DatabaseTime Keeping Database

– Reports Time Allocations and Reports Time Allocations and Expenditures to Audits and Tracking Expenditures to Audits and Tracking DatabasesDatabases

– Tracks Budgeted and Actual TimeTracks Budgeted and Actual Time

Additional Audit Databases

FlowchartingFlowcharting Org ChartOrg Chart Audit Status ReportAudit Status Report Audit ProtocolsAudit Protocols Bulletin BoardBulletin Board Audit & Healthcare Audit & Healthcare

NewsNews MeetingsMeetings

Corporate Policies & Corporate Policies & ProceduresProcedures

PersonnelPersonnel Corporate PhonebookCorporate Phonebook Sign-In/OutSign-In/Out Best PracticesBest Practices GAAP & GAAS GAAP & GAAS

GuidelinesGuidelines Resource Tracking Resource Tracking

Achieved Outcomes

Streamlined the audit process.Streamlined the audit process. Used a risk-based approach on all audits.Used a risk-based approach on all audits. Provided centralized management of all audits.Provided centralized management of all audits. Provided electronic mail integration and Provided electronic mail integration and

consolidated reporting.consolidated reporting. Summarized and share audit information.Summarized and share audit information. Allows document review, hand off and approval Allows document review, hand off and approval

from any location.from any location. Tracks issues from origination through follow-up.Tracks issues from origination through follow-up.

Auditor Assistant

Auditor Assistant on Lotus Notes