Audit Deliverables

1
Audit Deliverables

• May 26, 2004
• Ron Degiuli, Presenter

2
What is Sufficient Audit Evidence?

• References
• GAO Government Auditing Standards, Chapter 4 -
  AICPA generally accepted standards of field work
  and
• Chapter 7 - Field Work Standards for Performance
  Audits
• GAO/PCIE Financial Audit Manual
• Section 400 Testing
• Section 900 Substantive Testing
• Section 1000 Reporting

3
What is Sufficient Audit Evidence?

• Documentary evidence consists of created (source
  document) information such as
• letters,
• contracts,
• accounting records,
• invoices, and
• management information on performance.

4
What is Sufficient Audit Evidence?

• Testimonial evidence is obtained through
• inquiries,
• interviews, or
• questionnaires.
• Analytical evidence includes
• computations,
• comparisons,
• separation of information into components, and
  rational arguments.

5
What is Not Audit Evidence ?

• Screen print of an input screen
• Copies of documents that have been altered in any
  way (ie. Whiteout, etc.)

6
OCFO Audit Liaison

• Financial Management Key Milestones and Due Dates
  (Timeline) for the Consolidated Audit
• Quarterly timelines
• Coordination Committee
• Coordinate and QA Audit Deliverables
• Stand Alone Audits
• Entrance Conferences and Status Meetings

7
Sample Letters

• Management Representation Letter
• Quarterly CFO Certification Letters
• Differences between quarters
• 1st 3rd quarters similar
• 2nd and 4th quarter require higher level
  signatures