Dear Mr. Larry Lancaster,
This letter provides an explanation on how I intend to carry out the audit process plan on Apollo Shoes Company internal audit services.
The audit process will involve a series of steps. After receiving Apollo Shoes Company’s preliminary list such as the financial statement and organizational charts, I will plan the review while primarily conducting a risk workshop which will assist me in the process of identifying the key risks and raising awareness on the risks. Later I will draft the audit plan and schedule an open meeting with Apollo Inc. Company.
In the open meeting, the senior management and the administrative staff who are to be involved in the process of Auditing must be present. During this meeting I will conduct a discussion on the audit scope where I will expect the available individuals to ask me any questions regarding the review areas they are concerned about. The audit timeframe will be determined and potential timing issues discussed such as deadlines that could impact the audit.
After the open meeting, I will finalize the audit plan before beginning the field work. During fieldwork I will talk with the staff members, conduct a procedural manual review, and learn about the processes of the business, test for compliance with any applicable policies, procedures, laws and regulations and finally access how adequate the internal controls are. At this point I will make the staff know that I will schedule meetings with them during the process of auditing. In addition, I will also let the staff know that they will have an opportunity of discussing noted issues and their possible solutions.
After the field work I will draft a report with several sections such as distribution section, and date of follow-up, unit’s general overview, audit scope, any major audit concerns, overall conclusion, findings and recommendations’ detailed