Internal Audit Tutorial 02 : Bagaimana Cara Melaksanakan Internal Audit

Summary

This video explains the comprehensive internal audit process, outlining key stages like initiation, planning, organizing, implementation, and control. It details how to appoint internal auditors, create audit charters, and establish Standard Operating Procedures (SOPs). The video further explores the importance of coordinating with external auditors, conducting risk assessments, and creating audit plans. It covers the steps for carrying out audits, including preliminary surveys, fieldwork, reporting, and monitoring improvements. The process concludes with periodic reporting, final reports, and quality control for continuous audit performance improvement.

Takeaways

• 😀 The internal audit process starts with initiation, which includes appointing auditors, creating an audit charter, socializing the audit charter, and developing internal audit SOPs.
• 😀 Appointing an internal auditor can be done internally or externally, but the auditor should focus solely on audits and not have operational duties.
• 😀 The audit charter is a critical document that officially establishes the internal audit unit within the organization, outlining its position, duties, and rights.
• 😀 Socializing the audit charter is essential for informing the entire organization about the internal audit unit's role and responsibilities.
• 😀 The planning stage involves receiving suggestions from within the organization, coordinating with external audits, conducting risk assessments, creating an audit plan, and socializing it within the organization.
• 😀 An internal audit plan should cover the audit assignments, including which entities will be audited and the time, energy, and cost allocations.
• 😀 The organizing stage involves making a draft audit program and preparing an audit timeline, which helps allocate resources efficiently.
• 😀 The implementation stage consists of conducting preliminary surveys, preparing assignments, fieldwork, reporting, and monitoring improvements. Fieldwork includes gathering data, confirming findings, and analyzing root causes.
• 😀 The audit report is drafted after fieldwork and submitted for feedback, with a final version sent to the entity for review and action on improvements.
• 😀 The controlling stage involves submitting periodic reports, preparing a final audit report summarizing findings, and conducting quality control assessments to ensure alignment with standards and improve the process for future audits.

Q & A

What is the purpose of the internal audit process?

The purpose of the internal audit process is to evaluate and improve the effectiveness of risk management, control, and governance processes within an organization.

What are the first steps in the initiation stage of an internal audit?

The initiation stage consists of appointing an internal auditor, creating an audit charter, socializing the audit charter to the organization, and developing an internal audit SOP.

How should an internal auditor be appointed within an organization?

An internal auditor should be appointed by the owner with the assistance of HRD. At least one auditor must be designated, and if only one auditor is appointed, they will automatically become the head of the internal audit unit.

What is the significance of an audit charter?

The audit charter is a document that officially establishes the internal audit unit, outlining its position, duties, obligations, authority, and rights. It also includes the definition of the audit code of ethics and standards.

What is macro risk assessment (anger) in the planning stage?

Macro risk assessment (anger) is the process of analyzing the risk levels of different entities within the organization by examining financial and operational data, determining which entities pose the highest risk for auditing.

What is the importance of socializing the audit plan?

Socializing the audit plan ensures that all parties in the organization are aware of the audit process, including which entities will be audited. It helps maintain alertness and preparedness within the organization.

What are the key components of the organizing stage of an internal audit?

The organizing stage includes developing a draft audit program and creating an audit timeline, which involves allocating the necessary resources, time, and budget for each audit segment.

What is the purpose of a preliminary survey in the implementation stage?

The preliminary survey helps internal auditors familiarize themselves with the entity being audited. It involves interviewing staff, reviewing data, and understanding operational processes before starting the audit work.

How is an audit assignment report created?

After fieldwork, an audit assignment report is drafted, including findings and recommendations for improvement. This draft is reviewed with the entity, and once finalized, it is published with an identity rating.

What is the role of monitoring in the internal audit process?

Monitoring ensures that all agreed-upon improvements from the audit findings are implemented by the audited entity. The internal audit unit tracks the progress of these improvements and collects evidence of completion according to deadlines.

What is the purpose of submitting periodic reports in the control stage?

Periodic reports provide updates to the owner on the progress of the audit plan, interim findings, and any challenges faced during the audit process. These reports help track ongoing audit activities and address issues as they arise.

How is quality control implemented at the end of the internal audit process?

Quality control involves evaluating the audit's performance and conformity to standards. It may include using external auditors for assessment or conducting self-assessments to ensure the quality of the audit and identify areas for improvement.