1. Operational Auditing--Fall 2001 1 Establishing an I/A Function 4 Reporting structure 4 Mission statement 4 Objectives 4 Methodology & Operations

2. Operational Auditing--Fall 2001 2 Internal Audit Process 4 Auditee selection 4 Audit planning 4 Preliminary survey 4 Internal control review 4 Expanded testing 4 Develop findings & recommendations 4 Reporting 4 Follow-up 4 Post audit evaluation

3. Operational Auditing--Fall 2001 3 Work Paper Purposes 4 Documentation of evidence 4 Audit execution and planning tool 4 Follow-up reference 4 Review facilitator

4. Operational Auditing--Fall 2001 4 WFO Planning Structure 4 Administration 4 Reporting 4 Auditee response 4 Findings 4 Program 4 Preliminary survey 4 Internal control review 4 Expanded testing and f/u

5. Operational Auditing--Fall 2001 5 Other W/P Factors 4 Ownership: the company 4 Preparation guidelines –Completeness & accuracy –Clarity & understandability –Legibility & neatness –Relevance –Attention to detail

6. Operational Auditing--Fall 2001 6 Sample Work Paper Heading Ref. Review T/M Legend: Source Purpose: Conclusions