TABLE OF CONTENTS In Chapter 5, we looked at the top down approach to audit, and in Chapter 6, we looked at the conduct of the review and verification. This third stage of the audit process is to conclude the audit bottom up in such a way that you help management to understand the status of what they have in place and where, if necessary, it may need improvement.
You should still have at least 20 per cent of the total time scheduled for the audit available for this stage.
Staying with the vision of an audit being like a ride on a roller coaster, the concluding stage of the ride starts just after the roller coaster has bottomed out. Your heart has missed a beat and your stomach is coming back up to meet your mouth, and then there is a momentary release of tension until you see the steepness of the climb upwards directly in front of you. But the speed of descent down the roller coaster, with its resultant flood of information into the audit team s group brain, normally provides sufficient momentum to enable you to reach the top of the slope, at which point the audit team should be ready to issue an audit report.
Figure 7.1 illustrates the concluding stage of The Audit Process Roller Coaster , and this chapter describes how to do it.
A-Factor 47: Acceleration top down provides sufficient momentum for...
