There is always a risk that a conclusion made from a sample may not be correct since auditors do not examine 100% of the entire population. Corporate plans (departmental, investment, security, human resources), Corporate Risk Profile, Human Resource workforce dashboards, Ministers' Mandate Letters, departmental priorities, Departmental Results Framework, Departmental Results Reports, Management Accountability Framework Assessment results, Reports prepared by other internal and external assurance providers, Mission operations and functional management, Internal audit staff of other government departments, Coordinate with internal oversight providers (Inspection, Evaluation), Coordinate with external assurance providers, Synthesize document review and prepare branch profiles, Extract relevant data relating to missions and conduct analysis, Identify and assess risks based on results of analysis, Prioritize auditable entitities based on risk, Map auditable entities to Core Responsibilities, Corporate Risk Profile, Ministers' Mandate Letters, and departmental priorities to ensure adequate coverage, Consider work conducted by other assurance providers, Prioritize auditable entitites for each fiscal year, Ensure engagements are focused on areas that best provide insight into opportunities for improvement, Assess whether audit/advisory is the right tool, Document the plan and submit for approval, Development, Peace and Security Programming, Occupational Health & Safety and Well-being Management, COVID-19 Emergency Repatriations to Canada, Grants & Contributions Part II - Feminist International Assistance Policy, Real Property Investment & Portfolio Management, Mission Audit Bamako, Mali (joint site visit with Mission Inspection), Audit of Foreign Service Directives Relocation, Advisory: Covid - 19 Emergency Repatriations to Canada, Advisory: Grants & Contributions Part ll Feminist International Assistance Policy, Advisory: Duty of Care Governance & Spending, Advisory: Covid - 19 Remote Work Risk Assessment, Advisory: Innovative Programming Design Framework, Audit of IT Part II (post risk assessment), Audit of Trade Commissioner Services Regional Operations, New Direction in Staffing 5 Year Cyclical Assessment, Mission Audits (to be determined) - Mission 1. Hence, what is more important is the treatment of planning as a continuous process commencing from the end of the previous year audit and comes to an end with current audit engagement completion. This schedule results from the risks assessment that the auditor performs at the planning stage. Audit of Information for Decision Making (Costing Methodology): The Office of the Comptroller General has changed its plan. In addition, strategy formulation depends on the features of audit engagement like its characteristics, reporting objectives, auditors professional judgment, the outcome of preliminary engagement activities, and the resources necessary to perform the audit engagement. This document will be a roadmap to maintaining the reliability of the department. Preliminary Objective: To determine whether sound management practices and effective controls are in place to ensure good stewardship of resources at the mission in support of the achievement of Global Affairs Canada objectives. The follow-up process at NRCan is a two-phase process, which begins with a management self-assessment of the level of implementation for each recommendation and Management Action Plan (MAP). IyTe.XLceIi/Z~7+z !Ve eRqqTp>%c3(nh2p5V#;v'j208Z } ^%~r/3"(.v`XS|I7:xNU Each spring, as part of the second phase, the Audit Branch performs a validation that the recommendations assessed by management have been fully implemented. The Innovation Fund initiative has just begun. Internal Audit Strategic Plan Template Download this Internal Audit Strategic Plan Template Design in Google Docs, Word, Apple Pages. Chown(AWD), 47. The technical storage or access that is used exclusively for statistical purposes. The OCAE strategy is to create value for Global Affairs Canada by leveraging our expertise to drive improvements that support the Department in achieving its mandate and contribute to management excellence. The Office of the Auditor General repriortized its audit work at the request of Parliament. The pace of change and the growing complexity in the Department are a major challenge. Norton (WED, WFD, WWD), 26. International Assistance OperationsPrg Official: DPD/C. Launched in 2017, FIAP puts Canada at the forefront of global efforts to eradicate poverty and to foster a more peaceful inclusive and prosperous world. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. The scope will include the management of real property, vehicles, machinery and equipment, material inventory, consular revenue and cash, and LES overtime. An audit plan represents a blueprint for conducting an audit. There could be chatter or rumors of something going on that should be looked at within the organization that could be perceived as risk areas. If these risks or changes emerge and suggest higher priority audit activity, the RBAP will be adjusted so that the OCAE can take appropriate responses. The two elements of planning are creating an overall audit strategy and the associated plan. Preliminary Objective: To examine the governance structure as well as expenditures within the Duty of Care envelope. The validation approach includes the following procedures: conducting interviews; reviewing supporting evidence; and performing analysis and testing based on risk. Management of Federal-Provincial Offshore Agreements, 4. The figure below depicts the OCAEs suite of services. As we all know, audit risks are a combination of inherent, control, and detection risks. Horizontal Audit of Human Resources (HR) Planning, 16. The second step to prioritize the audit universe involves consideration of several factors, including significance to departmental strategic outcomes and operational objectives; senior management requests and priorities; the DACs advice and recommendations; external audit activities and planned evaluations; readiness of the entity for audit activities; and availability of internal resources to complete the audit on time. Advisory Project on HR Capacity for Science-based Programs, 35. Americas TradePrg Official: NGM/D. The auditors assessment of the risks influences the audit methods nature, timing, and scope. Risk Assessment and Internal Audit Plan - 2017/2018 -1- Executive Summary This document provides the results of the annual risk assessment for Oregon Tech (the Institution) and fiscal year 2017/2018 internal audit plan. Assessment of the ecoEnergy for Biofuels Program, 3. Grants and Contributions Policy and OperationsPrg Official: SGD/M. Legal ServicesPrg Official: JUS/T. Following this step, professional judgement is still required to risk-assess and rank the auditable entities. Hamson(IRG, IRD, IGD, OAD, OPD, NND, OSD, NLD, ECD, WWD, MID), 31. Currently, the Department is not implicated in any such audits. !;m.57WogB/sfW!{cF"UQK4#|nf45}Y`algo$@CoER.%V% a_tJ[S{o}SDSp< 5 Year Cyclical Assessment - New Direction in Staffing. Sirrs (CSD, SID), 41. The work carried out will address key risks associated with significant departmental expenses and have been identified in part, based on the results of the Departments Fraud Risk Assessments (FRAs) Management Action Plans (MAPs). V14p^+X#e*]OvoFAa5%dX{4 c-ot%*=s`x cf+ W7k`X u"48b`gzXI6Hs00~ RLef X8 This methodology complements the monitoring function of departmental managers. PDF; Size: 86 KB. You will Learn Basics of Accounting in Just 1 Hour, Guaranteed! Government and departmental priorities are also validated with senior management and the DAC to ensure planned audits align with higher priority areas. It addresses why, when, how, where, and by whom questions associated with audit performance. MacIntyre(DCD, DMA, DME, DMT, MINA, MINE, MINL, MINT, PRD, SRD, VBD, USS, ZID, DBMO, DMX, SCM), 50. Design and Development of NRCans IT Architecture Framework, 14. 10+ Audit Risk Assessment Templates in PDF | XLS | DOC 1. The Department has property stewardship and project delivery responsibilities for more than 2,400 owned and leased facilities abroad, which includes 234 chanceries and 85 official residences. It helps to inform risk-based planning as well as the requirement for further examination through traditional audits or advisory services. However, due to travel restrictions caused by the pandemic, the OCAE will pilot a remote mission audit. To comprehend each business element relevant to the audit, the auditors collect and evaluate information about the company, such as financial, legal, and investment facts. Sub-Saharan Africa TradePrg Official: WGM/L. Locally Engaged Staff ServicesPrg Official: HLD/M. Two significant Government of Canada initiatives associated with this Program are the Middle East Strategy and the Elsie Initiative for Women. Four audits were started in 2019-2020 and carried over to 2020-2021: Audit of Peace and Stabilization Operations Program, Audit of Grants and Contributions Part I, Audit of Foreign Service Directives Relocation, and Port-au-Prince misssion audit was deferred in 2019-2020 and replaced by a mission audit in Bamako. Audit Plan Example Having a punctiliously crafted audit design helps auditors achieve efficient engagement, risk mitigation, and compliance with standards set by authorized governing bodies. Tentative Audit Plan for Fiscal Year 2021/2022: Audit Unit Audit Focus** Budget* Timeframe Risk Ranking: Heat Map Risk Assessment and Audit Plan Update Review risk assessment and update annual audit plan with targeted interviews with the Board and management as required by internal audit professional standards. Management practices and controls related to financial management, procurement, asset management, and LES human resource processes. Bobiash (OAD, OPD, OSD, (including APEC), 25. On the other hand, an audit program is a set of procedure that is applied when making the audit to acquire evidence and information. The RBAP is developed in accordance with the requirements of the Treasury Board of Canada (TB) Policy on Internal Audit, along with related directives, guidelines, and the Institute of Internal Auditors (IIA) International Standards for the Professional Practice of Internal Auditing. Sub-Saharan Africa Policy & DiplomacyPrg Official: WGM/L. Casey (DCD, SID, SET), 55. This is a two-step process that involves a preliminary and final prioritization based on a number of factors such as likelihood of risk and impact. A risk-based approach audit begins with an audit plan that focuses on risks. The OCAEs budget for 2020-2021 is shown in Table 2 below. Baker (MGD, MND), 13. The Audit Branch will continue to undertake assurance-based continuous auditing to proactively identify potential systemic control issues and report annually on various processes. In addition, planned engagements were reprioritized as well as the number of mission audits were reduced from six to one pilot remote mission audit due to travel restrictions. Lundy (AFD, CS Mission), 44. %PDF-1.5 % Audit plans are vital for a business operation. Preliminary Objective: To provide advice on the funding mechanism for the Innovation Fund. Implementation of Extractive Sector Transparency Measures Act, 18. Preliminary Scope: This review will include a sample of significant expenditures in each of the four pillars: infrastructure, securing information, mission readiness, and Kabul. The audit planning process ensures that all internal audit activities are relevant, timely, and strategically aligned with NRCans Corporate Risk Profile (CRP) to support the achievement of the Departments strategic objectives. The RBAP identifies the engagements to be undertaken in 2020-2021 and 2021-2022. Preliminary Objective: To determine whether there is an appropriate privacy management framework to support compliance with the Privacy Act. This has been a guide to Audit Plan and its Meaning. Planning for auditing is the initial step in an audit. In addition, the RBAP is designed to align engagements to reflect the Departments core responsibilities while addressing areas of high risk and significance. The auditor plans to assess the risk of inventory fraud with the help of observation of physical inventory and analytical procedures and describes its nature, time, and extent. Privacy breaches or the mismanagement of personal information may harm Canadians and threaten the reputation of GAC. Wheeler (XDD), 5. The following engagements were deferred from 2019-2020: The OCAE has identified the following risk factors that could impede the successful implementation of the RBAP. %%EOF Gwozdecky (IOD), 18. At the end of any accounting period, reconciliation involves matching balances and ensuring that debits (credits) from one account for one transaction is same as thecredit (debits) to another account for the same transaction. Once completed, a Follow-Up Report is produced, discussed with senior management, DAC and approved by the DM. Implementation of NRCans IT Strategy, 32. File Format. The internal audit function will engage early in this initiative to support the Program as they bridge between ongoing operations and innovative changes (uncertain operations). These facts serve as the foundation for the opinion in theaudit report.read more once the risks have been recognized. Mission Network Information Management / Information TechnologyPrg Official: SID/K. It helps the auditor efficiently manage the audit by analyzing the prime focus areas, proactive problem management, and allocating responsibilities to team members. Global Affairs Canada collects, uses, and manages the personal information of Canadians to fulfill its mandate. Assess whether actions documented as a result of the After Action Review and Lessons Learned exercises have been implemented within committed timelines. It is important to have an audit plan because this would ensure the effectiveness of the audit procedure and its accordance to the auditing standards. Six Mission Audits locations to be determined. Real Property (Domestic) Prg Official: SPD/B. The OCAE received management support to continue with a series of mission audits to support the department in managing risks abroad. In this approach, auditors aim to address a company's highest priority risks first. The results of this pilot will be used to inform the methodology for other mission audits. If auditors effectively assess their clients risks related to financial statements, the auditor will then could tailor the risks audit procedure to detect those risks. Risk-based auditing ensures that the internal audit activity is focusing its efforts on providing assurance and advisory services related to the organization's top risks. The risk areas were analyzed in relation to the core responsibilities and corporate risks. Guidance This scope will also include the eligibility, level of funding, compliance with terms and conditions of agreements, and results of projects. In addition, preliminary audit objectives are developed for each audit selected for the RBAP. Information Technology Prg Official: SID/K. In addition, the company being audited should be ready and offer coordination to assist in the efficient completion of the audit. Audit Plan Development . Sufficient internal costing capacity and competencies are the foundation to the development of strong costing methodology. Report Ongoing Monitoring Internal Control Over Financial reporting: Foreign Service Directives concluded that the system for FSD is not operating effectively as several tested controls failed. It covers the starting point of the selection process that determines potential NRCan auditable entities covering a 3 year period to its final recommendation. It enables them to form an opinion on financial statements and ensure whether they reflect the true and fair view or not. %PDF-1.6 % For enquiries,contact us. They constitute an integral part of the supply chain management for providing raw materials to manufacturers and finished goods to customers. Lawson (SPD), 58. Internal Audit Plan Sample. The plan should be in line with the audit strategy so that the plan entails the successful completion of the audit objectives. Global Affairs Canada represents the Government of Canada in 178 diplomatic and consular missions in 110 countries. Professional Development and Talent Management, 10. The implementation of the "risk based audit plan" covers annual engagement at IAA level and individual level.CAE must manage internal audit activities IAA) to ensure that IAA will provide . Trade Policy, Agreements, Negotiations, and Disputes Prg Official: TFM/S. They constitute an integral part of the supply chain management for providing raw materials to manufacturers and finished goods to customers.read more invoices related to inventory. OCAEs agility can be demonstrated by providing real time feedback and advice to program management regarding activities still underway. This audit follows a 2017 Audit of the Harmonization of Grant and Contribution Program Administration conducted by the OCAE, which concluded that GAC required improvements to attain a more streamlined, standardized, and harmonized delivery and administration of grants and contributions. The Audit Branchs forecasted budget for FY 2017-18 is $3.2 million. Audit Procedures are steps performed by auditors to get evidence regarding the quality of the financial information provided by the management of a company. Practice Guide: Developing a Risk-based Internal Audit Plan. 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