San Jose State University

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San Jose State University

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Combination of substantive and compliance tests, focusing only on key objectives ... Working for Multi-national companies. Career Opportunities. Questions ... – PowerPoint PPT presentation

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Title: San Jose State University

1
San Jose State University
October 12, 2006

Internal Audit A 2006 Perspective
Lynn Falbo lfalbo_at_wrcas.com
2
Agenda

Audit Evolution
Working for Multi-national companies
Career Opportunities
Questions

3
Audit Evolution

Audit Generations
Control-Based Auditing
Process-Based Auditing
Risk-Based Auditing
Risk-Management Based Auditing
Merging / integration of Financial, Operational,
IT focus

4
Audit Generations
5
Introduction
Audit Process Methodology
Knowledge about ideal situations
Understanding the actual status
are the keys for improvements
Comparison Analysis of Documents Interviews Questi
onnaires
Actual Key Data Structure Processes Interfaces e
tc.
Ideal (Better) Strategy Business Policy Law,
guidelines State of the Art Customer Surveys etc.
Recommendations constructive future-oriented feasi
ble improving processes and profits
6
Audit Evolution Questions
Introduction

What Generation is represented by previous slide
Audit Process Methodology model?
What Generation best represents the focus of SOX
(COSO Internal Control Framework)?
What Generation best describes the methodology
you were taught?
What Generation is predominant in industry today?

7
COSO Internal Control Framework
8
COSO / Cobit Internal Control Framework
9
COSO ERM (Enterprise Risk Management) Framework
10
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11
Agenda