Successful Remote Internal Auditing

Community members will be able to learn best practices to execute a successful remote internal audit.

 

We’ll discuss:

  • How to plan, execute, and report a remote internal audit
  • How to manage remote audit challenges
  • The best tools and resources for a successful remote internal audit

This event is highly relevant for internal audit professionals with all levels of experience.

Login or create free account to register for this event.

Hector Garcia (MBA) has more than 20 years of experience in internal audit (IT, Finance, Operations, Sox), as well as compliance (FCPA, AML), internal controls, risk management and related areas, leading international projects with culturally diverse teams in financial services and telecommunications industries in world-class companies.

 

Dimple Gulati is a Senior Internal Auditor and holds the Indian Chartered Accountant credential. She comes from a Big 4 background and has a total of more than ten years of experience with roles in internal audit, assurance, tax and risk management.

 

Auditopia’s Virtual Community Events are designed to be active and engaging, allowing for peer-to-peer learning among members.  By only sharing your first name and industry, you can be assured that learning and communicating happens in a safe environment.  Each event is limited to 100 participants. See you online!

 

Event Hosts

Share this event
Share on linkedin
Share on twitter
Share on facebook

What are some specific aspects you feel we should address?

13 thoughts on “Event Registration Remote Auditing June”

  1. Biljana

    Hello,
    I started a new assignment in the field of Purchasing/Procurement internal controls. I would be most happy to get any ideas how to improve the process with regard to the necessary controls in the procurement process.
    Do I need to request access to Accounting data to ensure Accounts payable have properly processed the payment?
    Would any of the participants have any suggestion about how to structure the whole process with MS Office 365 and the available apps?
    I would be happy to receive any idea related to these points. Thanks a lot for this event, keep well and best regards from Europe,
    Biljana

    1. Nick

      Thanks a ton for the input, Biljana! Let’s definitely discuss how to structure the audit process with remotely and with MS Office. Hector and Dimple will share their thoughts and tips and you can also get everyone’s ideas through the chat in the event.

      Regarding the purchasing-related questions: That sound like great topics for future events. You could also see if there are any shared resources here on Auditopia that could help with that audit. Otherwise, feel free to put in a resource request so that other community members can chip in.

      Best,
      -Nick

    2. Rahul

      Hope it helps. If you have the data, below tests can be performed using Excel 365 and IDEA (below tests are taken from IDEA handouts)
      Analyses
      • Analyze purchase or payments by value bands and
      identify unusual trends. Test for invoice splitting,
      particularly below authorization levels.
      • Summarize by the type of payment (regular
      supplier, one-off, check, electronic transfer, etc.)
      • Analyze by period to determine seasonal
      fluctuations
      • Analyze late shipments for impact on jobs, projects
      or sales orders due
      • Reconcile order received to purchase order to
      identify shipments not ordered
      • Report on purchasing performance by location
      • Summarize item delivery and quality and compare
      vendor performance
      • Summarize cash payments by the respective
      account distribution for reconciliation to the
      general ledger posting
      • Compare accrued payable to received items to
      reconcile to general ledger
      • Check for continued purchases in spite of high
      rates of return, rejects or credits
      Calculations
      • Reproduce purchase analysis and posting totals
      • Recalculate the total of cash payments
      • Track scheduled receipt dates versus actual
      receipt dates
      Gaps and Duplicates
      • Produce exception reports of large items, possibly
      with an exception limit determined by the type of
      item (e.g., the general ledger code)
      • Identify price increases greater than acceptable
      percentages
      • Identify invoices without a valid purchase order
      • Identify high-volume purchases from one vendor
      • Find invoices for more than one purchase
      order authorization
      • Identify and extract pricing and receipt quantity
      variations by vendor and purchase order
      • Identify multiple invoices at or just under approval
      cut-off levels
      • Find invoice payments issued on non-business
      days (e.g., Saturdays and Sundays)

  2. Rahul

    How can we follow-up post reporting in a remote audit environment ?
    It would be great if we get a list of free tools and resources viz a viz paid one.

    1. Nick

      Thanks for bringing this important question up, Rahul! Hector and Dimple will speak to it and you can also engage with all other event attendees over chat to get their thoughts and tips.

      In terms of the list: I think this is a great idea. Why don’t we create the list together here on Auditopia? I’ll start a resource request on this topic now and everyone can add the tool(s) or resource(s) they find find most useful in remote audits as comments. I’ll then create a spreadsheet from all tools / resources mentioned in the comments and update the spreadsheet as more comments come in. Let me know what you think.

      1. Rahul

        Yes. That would be great. Would just like to add one thing, once we have excel and better if we collect the list from other platforms as well like linkedin and AuditWithoutWalls!. Then we can come up with a word/tag cloud chart. If it sounds nice, just do it ✌️

  3. Mohammed
    Mohammed Alkasadi

    How can we have Internal Controls of materials and assets entering the country under the temporary customs regime (customs exemption) e.g material used in petroleum investments?

    1. Nick

      Thanks for the input, Mohammed! Puh, seems like a tricky and really specific question. Can anyone from the community give any tips here? I’m sadly not an expert in this regard at all and Hector and Dimple come from different verticals, too.

Leave a Reply

13 thoughts on “Event Registration Remote Auditing June”

  1. Biljana

    Hello,
    I started a new assignment in the field of Purchasing/Procurement internal controls. I would be most happy to get any ideas how to improve the process with regard to the necessary controls in the procurement process.
    Do I need to request access to Accounting data to ensure Accounts payable have properly processed the payment?
    Would any of the participants have any suggestion about how to structure the whole process with MS Office 365 and the available apps?
    I would be happy to receive any idea related to these points. Thanks a lot for this event, keep well and best regards from Europe,
    Biljana

    1. Nick

      Thanks a ton for the input, Biljana! Let’s definitely discuss how to structure the audit process with remotely and with MS Office. Hector and Dimple will share their thoughts and tips and you can also get everyone’s ideas through the chat in the event.

      Regarding the purchasing-related questions: That sound like great topics for future events. You could also see if there are any shared resources here on Auditopia that could help with that audit. Otherwise, feel free to put in a resource request so that other community members can chip in.

      Best,
      -Nick

    2. Rahul

      Hope it helps. If you have the data, below tests can be performed using Excel 365 and IDEA (below tests are taken from IDEA handouts)
      Analyses
      • Analyze purchase or payments by value bands and
      identify unusual trends. Test for invoice splitting,
      particularly below authorization levels.
      • Summarize by the type of payment (regular
      supplier, one-off, check, electronic transfer, etc.)
      • Analyze by period to determine seasonal
      fluctuations
      • Analyze late shipments for impact on jobs, projects
      or sales orders due
      • Reconcile order received to purchase order to
      identify shipments not ordered
      • Report on purchasing performance by location
      • Summarize item delivery and quality and compare
      vendor performance
      • Summarize cash payments by the respective
      account distribution for reconciliation to the
      general ledger posting
      • Compare accrued payable to received items to
      reconcile to general ledger
      • Check for continued purchases in spite of high
      rates of return, rejects or credits
      Calculations
      • Reproduce purchase analysis and posting totals
      • Recalculate the total of cash payments
      • Track scheduled receipt dates versus actual
      receipt dates
      Gaps and Duplicates
      • Produce exception reports of large items, possibly
      with an exception limit determined by the type of
      item (e.g., the general ledger code)
      • Identify price increases greater than acceptable
      percentages
      • Identify invoices without a valid purchase order
      • Identify high-volume purchases from one vendor
      • Find invoices for more than one purchase
      order authorization
      • Identify and extract pricing and receipt quantity
      variations by vendor and purchase order
      • Identify multiple invoices at or just under approval
      cut-off levels
      • Find invoice payments issued on non-business
      days (e.g., Saturdays and Sundays)

  2. Rahul

    How can we follow-up post reporting in a remote audit environment ?
    It would be great if we get a list of free tools and resources viz a viz paid one.

    1. Nick

      Thanks for bringing this important question up, Rahul! Hector and Dimple will speak to it and you can also engage with all other event attendees over chat to get their thoughts and tips.

      In terms of the list: I think this is a great idea. Why don’t we create the list together here on Auditopia? I’ll start a resource request on this topic now and everyone can add the tool(s) or resource(s) they find find most useful in remote audits as comments. I’ll then create a spreadsheet from all tools / resources mentioned in the comments and update the spreadsheet as more comments come in. Let me know what you think.

      1. Rahul

        Yes. That would be great. Would just like to add one thing, once we have excel and better if we collect the list from other platforms as well like linkedin and AuditWithoutWalls!. Then we can come up with a word/tag cloud chart. If it sounds nice, just do it ✌️

  3. Mohammed
    Mohammed Alkasadi

    How can we have Internal Controls of materials and assets entering the country under the temporary customs regime (customs exemption) e.g material used in petroleum investments?

    1. Nick

      Thanks for the input, Mohammed! Puh, seems like a tricky and really specific question. Can anyone from the community give any tips here? I’m sadly not an expert in this regard at all and Hector and Dimple come from different verticals, too.

Leave a Reply

Create Free Account

Contact us