MICHAEL P.CANGEMI, TOMMIE SINGLETON – MANAGING THE AUDIT FUNCTION A CORPORATE AUDIT DEPARTMENT PROCEDURES GUIDE

Praise for managing the audit function. The role and importance of the internal audit function has been elevated by the corporate governance issues, accounting irregularities, and legislative actions that have taken place over the past two years. Managing the Audit Function is a useful guide and reference tool for those in charge of the function. Daniel S. Kaplan is a business risk services partner. The firm is called Ernst & Young. It was refreshing to read Internal Audit literature with the appropriate focus on information systems and information systems auditing, since computer systems play a key role in the processing of accounting transactions and the performance of business operations in today’s business environment. William J. Powers is the National Director. Assurance services for information systems. The firm is called BDO Seidman, LLP. They created a knowledge management tool for the creation of quality audit manuals and functions. Managing the Audit Function is an important book for all audit managers, and with the addition of new and updated material, including information on the implications and requirements of the Sarbanes-Oxley Act, it provides the information to keep pace with changing conditions affecting the audit function. Robert S. Roussey is a professor of accounting. The Leventhal School of Accounting is located at the University of Southern California. International President of the Information Systems Audit and Control Association. Two of the world’s most knowledgeable IT auditors have prepared a procedures manual for an internal auditing department. The book is useful because it gives examples throughout audit documents, such as audit reports, responses to reports, responses to delinquent responses, matrices, and flowcharts. The book should be a reference manual for every audit department. Dale L. Flesher is a PhD, CPA and CFE. Associate Dean and Professor of Accountancy. The University of Mississippi.

TABLE OF CONTENTS

Foreword.

Preface.

FUNDAMENTALS OF INTERNAL AUDITING

Chapter 1. There is a background.

There is an introduction.

The history of auditing.

There is a history of internal auditing.

Government agencies are audited.

There is a history of information systems auditing.

Federal regulations are related to auditing.

Professional organizations are related to internal auditing.

Chapter 2. Auditing standards and responsibilities.

There is an introduction.

There are two ethics, one ethics and one ethics and 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884 888-349-8884

There are professional auditing standards.

There are life cycle standards for systems development.

2.5 professional development

The responsibilities of a corporate auditor.

Chapter 3. There is an internal control system.

The definition is 3.1.

There are fundamental assumptions in establishing an internal control system.

Internal control models are effective.

There are regulations.

There are 3.5 policies.

There is a risk assessment.

There are control strategies.

There are 3.8 malicious activities.

There are specific controls.

There are two parts to management and administration.

Chapter 4. The organization of the department.

There is an introduction.

There is a Corporate Audit Charter.

There is a company organization.

There are audit department policies.

Chapter 5. There are personnel, administration, and recruiting.

There is an introduction.

Personal development is related to personal development.

There are personnel files.

There is a Periodic Performance Evaluation Review.

There is an annual staff meeting.

There is a new staff orientation.

TechnICAL PROCEDURES is part three.

Chapter 6. Audit planning.

Corporate Audit Planning, Scheduling, and Staffing.

There are internal controls.

There is materiality.

There are 6.4 types of audits.

Time reporting.

Expense reporting.

Chapter 7. Audit performance.

There is a Corporate Audit Performance Process Matrix.

There are 7.2 workpapers.

Audit Objectives

Chapter 8. There is audit reporting.

The corporate audit report process.

The report was sent to management.

The report was sent to the Audit Committee.

Part four is about long-term effectiveness.

Chapter 9. The audit department needs to be managed.

There is an introduction.

Corporate governance is 9.2

Quality assurance.

There are Continuous Improvement Systems for Internal Auditors.

Marketing the audit function.

Index.

AUTHOR INFORMATION

Aigner Group is a leading wholesale/retail firm that designs and produces quality branded leather goods. He founded and directed a service area for internal audit services and was the general auditor of Phelps Dodge Corporation before joining Aigner Group. It’s not like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it’s like it Tomie Singleton is the Director of the Development of Computer Accounting Information Systems at the University of North Alabama.

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