Conducting risk assessments by identifying and agreeing risks and ranking them by likelihood and impact in order to come up with the risk profile and audit focus areas.
Developing a matrix that identifies controls and evaluates their effectiveness in mitigating the identified risks.
Organising and carrying out a pre-audit meeting with the client to agree on the audit objectives and scope of the planned audit.
Evaluating the adequacy and effectiveness of risk management, compliance and governance processes and procedures
Carrying out investigations for complaints or allegations received.
Developing a program of appropriate audit tests and analysis by identifying the control objective, key risks, existing controls
Conducting audit fieldwork.
Quantifying the risk and documents existing weaknesses with the current system/procedure.
Reviewing previous audit reports and note down issues that have agreed action plans falling within implementation timeframe