Internal Audit Process


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Having ConceptDraw PRO software and Audit Flowcharts Solution is useful whether you work as a consultant for some auditing organization or the auditor.

Internal auditing itself is an objective consulting and assurance activity used to improve and so to add value to some organization's operations. With help of such activity any organization can accomplish its objectives in a way of bringing a disciplined systematic approach for evaluating and, as a result, improving the effectiveness of risk management, governance and control processes.

Internal auditing is known to be simply used for improving some organization's governance, management controls and risk management in a way of providing insight and so the recommendations, which are all based on the assessments of data and business processes as well as on the analyses. Being committed to accountability and integrity, all the internal auditing activities provide value to the senior management and governing bodies as an objective source of the independent advices.

The so called professional internal auditors are expected to be employed by organizations in order to perform all the needed the internal auditing activity. The whole scope of internal auditing within some particular organization is known to be very broad, involving such topics as: risk management, management controls and organization's governance over effectiveness as well as efficiency of the operations (such as safeguarding of the assets), compliance with laws and regulations and the reliability of management and financial reporting.

The internal auditing is also known to be involving the process of conducting the proactive fraud audits for identifying the potentially fraudulent acts. Such verifiable organizations are suspected to be involved in participating in such illegal activity as the fraud investigations. The actions of such organization are ruled by the direction of the fraud investigation professionals, that’s why it makes it more complicated to find out if there’s any fraud activity involved at all. In a way of conducting the post investigation fraud audits it becomes possible to identify and so to control the breakdowns as well as to establish any financial loss.

Although, the internal auditors are known to not be in charge for any execution of any company activities, they still tend to advise management as well as the oversight body about the best way for executing their responsibilities in a better way. As a result, the internal auditors end up having a variety of higher professional and educational backgrounds. Working for government agencies (such as local, state and federal), for the traded companies as well as for non-profit companies involved in all possible industries of business activity, the internal auditors can be very useful for guiding such institutes.

The activity of internal auditing itself is known to be very helpful at evaluating the general internal control. The term of “internal control” can be defined as a process, which can be effected by any management, directors as well as other personnel, which is expected to be providing the reasonable assurance due to the achievement of the following main objectives, which are efficiency and effectiveness of the operations, (as it was already mentioned before), reliability of management and financial reporting, compliance with regulations and laws, and safeguarding of the Assets.

Any management within any organization is known to be responsible for all the internal control, comprising all five critical components, which are: control environment, risk focused on the control activities, risk assessment, monitoring activities, and communication and information. Managers are expected to be establishing the policies, practices and processes in the mentioned five components of the management control in order to help any organization to achieve the specific objectives described above.

The internal auditors themselves perform any needed audit for evaluating if those five components of the management control operate effectively, or, in case it is not, provide all the needed recommendations for the further improvement. The Quality of the Internal Audit Report depends of a few factors, such as Objectivity, Clarity, Brevity, Accuracy and Timeliness. Keeping in mind that all the opinions and comments expressed in the issued report are both unbiased and objective, the used language is straightforward and simple, the fact that all the information which is contained in the report is accurate, the report itself is concise as well as released promptly straight after the audit is concluded (usually within one month), results in understanding in the auditors’ work done in a proper way.

Being based on the assessments of the risk within an organization, the management, the internal auditors as well as the oversight boards are known to be the only ones in charge for determining where the focus of the internal auditing efforts should be, as such focus (or prioritization) is part of the annual Audit Planning, being in most of the cases proposed by the CAE for reviewing and approving the Board of Directors. The internal auditing activity itself can be conducted as one or more than one discrete assignments and in case you are involved in such business activity you may need a professional tool for putting the mentioned assignments in order making them all look simply visually good.

Example 1. Internal Audit Process in ConceptDraw PRO

First of all, the Audit Flowcharts Solution offers at your disposal the Audit Flowcharts library with 35 ready-to-use vector objects which greatly facilitate creation of Audit Flowcharts and representation the steps of internal audit process.

Audit Flowcharts Library Design Elements

Example 2. Audit Flowcharts Library Design Elements

Having the right tool can always help to make things simpler, such as making an Audit Flowchart, which may be very useful for simplifying the understanding of the ongoing Audit processes. Having ConceptDraw PRO means having a chance to create any needed drawing, such as diagrams and charts, plans and flowcharts, e.g. the audit ones. Creating the mentioned drawing with help of both ConceptDraw PRO and another very useful product of CS Odessa — ConceptDraw STORE allows you to make the great as well as professionally looking charts and flowcharts.

Internal Audit Process

Example 3. Internal Audit Process

This sample was created in ConceptDraw PRO software using the Audit Flowcharts Solution for ConceptDraw PRO Solution Park and visually illustrates the internal audit process. An experienced user spent 10 minutes creating this sample.

Use the Audit Flowcharts Solution for ConceptDraw PRO software to quick and easy create your own Audit Flowcharts, Audit Process and Internal Audit Process Flowcharts.










Use Product:

  • Audit Flowchart Software
  • Accounting Flowchart Software
  • Flowchart Diagram Software
  • Process Diagram Software
  • Business Diagramming Tool
  • Professional Business Graphics Tool
  • Technical Diagramming Tool
  • For Mac® & Windows®
  • ConceptDraw PRO native Mac app
  • Easier to use than Microsoft Visio® and more powerful
  • With free support and thousands of templates

Use Solution:

  • Audit steps
  • Audit planning process
  • Audit flowcharts templates and examples
  • Vector graphics audit flowchart symbols
  • Analyzing complex processes
  • Designing complex processes
  • Documenting complex processes
  • Managing complex processes
  • Representing process operations
  • Showing the steps
  • Web documents
  • Import/Export Microsoft Visio™
  • Export to graphics files and PDF
  • Export to PPT™
  • Make Presentation


See Also Samples:



See also:


TEN RELATED HOW TO's:


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Audit Planning Process
Picture: Auditing Process. Audit Planning Process
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Basic Audit Flowchart. Flowchart Examples
This sample shows the Audit Process Flowchart. It was created in ConceptDraw PRO diagramming and vector drawing software using the Flowcharts solution from the What is a Diagram area of ConceptDraw Solution Park. The Audit Flowcharts are widely used in the financial management, accounting, money management and in many others fields.  Read more... →
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Audit Process Flowchart. Audit Flowchart
Audit Process Flowchart, Audit Flowchart - Audit Flowcharts solution for ConceptDraw PRO Solution Park provides the Audit Flowcharts library with wide variety of predesigned audit flowchart symbols, and also the set of templates and samples allowing you design your own audit flowchart or audit process flowchart in one moment. Simply use any of offered samples and change it for your needs, or fill the desired template.  Read more... →
Audit Flowchart
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Related Solution: Audit Flowcharts

SWOT analysis matrix diagram templates
Every company meets some risks during project life cycle. It’s easy to face them using such tools as SWOT analysis matrix diagram that depicts Strengths, Weaknesses, Opportunities and Threats of any proposed subject. ConceptDraw Solution Park contains excellent templates of of SWOT and TOWS matrices. Making SWOT matrix is frequently used in practical marketing. It is the valuable tool of marketing strategy development. SWOT matrix allows to define the strengths and weaknesses of the organization, possible outside threats and opportunities and evaluate the current strategic competitors. Using ConceptDraw SWOT and TOWS Matrix Diagrams solution you can perform SWOT analysis. You can create a SWOT matrix in and then compare the strengths and weaknesses of your organization and the opportunities and threats of market. The well-performed SWOT-analysis allows you define the steps that can be taken for the improvement of your company market position and determine and problems that need to be solve urgently.  Read more... →
SWOT Analysis Matrix Template
Picture: SWOT analysis matrix diagram templates


Audit Flowchart Symbols
Accounting is a cornerstone of any business, it’s basement. If you want to have a visual representation of your finance management, use audit flowchart symbols to document the money flow. Although some would say that accounting is boring, it is very a responsible duty. The audit flowchart symbols is supplied with ConceptDraw Audit Flowcharts solution as a vector objects library. Together with Conceptdraw Drawing capabilities it forms the helpful tool for audit process planning and setting the steps of audit by designing audit flow charts. Audit Flow charts are used to organize fiscal information tracking process as well as in accounting, finance and investment management.  Read more... →
Audit Flowchart Symbols, this is flowchart maker
Picture: Audit Flowchart Symbols
Related Solution: Audit Flowcharts

Process Flowchart
When trying to figure out the nature of the problems occurring within a project, there are many ways to develop such understanding. One of the most common ways to document processes for further improvement is to draw a process flowchart, which depicts the activities of the process arranged in sequential order — this is business process management. ConceptDraw PRO is business process mapping software with impressive range of productivity features for business process management and classic project management. This business process management software is helpful for many purposes from different payment processes, or manufacturing processes to chemical processes. Business process mapping flowcharts helps clarify the actual workflow of different people engaged in the same process. This samples were made with ConceptDraw PRO — business process mapping software for flowcharting and used as classic visio alternative because its briefly named "visio for mac" and for windows, this sort of software named the business process management tools. This flowchart diagram shows a process flow of project management. The diagram that is presented here depicts the project life cycle that is basic for the most of project management methods. Breaking a project into phases allows to track it in the proper manner. Through separation on phases, the total workflow of a project is divided into some foreseeable components, thus making it easier to follow the project status. A project life cycle commonly includes: initiation, definition, design, development and implementation phases. Distinguished method to show parallel and interdependent processes, as well as project life cycle relationships. A flowchart diagram is often used as visual guide to project. For instance, it used by marketing project management software for visualizing stages of marketing activities or as project management workflow tools. Created with ConceptDraw PRO — business process mapping software which is flowcharting visio alternative or shortly its visio for mac, this sort of software platform often named the business process management tools.  Read more... →
business process flowcharts, flowchart symbols, process flow diagram, workflow diagram, flowchart maker
Picture: Process Flowchart
Related Solution: Flowcharts

Organizational Structure Total Quality Management
The Total Quality Management Diagram solution helps you and your organization visualize business and industrial processes. Create Total Quality Management diagrams for business process with ConceptDraw software.  Read more... →
Organizational Structure Total Quality Management
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Material Requisition Flowchart. Flowchart Examples
A requisition form is one of the documents used for accounting in different manufacturing processes. There are two main types of requisition: a purchasing requisition and material requisition and difference between them is significant. Creating a flowchart might help you in understanding all the details of accounting process. Flowcharts are a best visual method for dividing a large and complicated procedure into a several little clear pieces. The main value-ability of an effective flowchart is its simpleness. Material requisition flowcharts are used to document the process of relationships between the different departments and the purchasing department within an organization. The flow chart gives the step-by-step guide on how is carried out the procurement process of the materials necessary for the functioning of the organization. This type of flowchart along with many other business flowcharts, one can easy create using ConceptDraw Flowcharts solution.  Read more... →
Material Requisition Flowchart
Picture: Material Requisition Flowchart. Flowchart Examples
Related Solution: Flowcharts

Auditing Standards
Auditing standards ensure a measure of audit quality and the objectives which must to be achieved in an audit. Illustrations are convenient way for auditors and audit-related people to display the auditing standards. We recommend to use the ConceptDraw PRO diagramming and vector drawing software extended with Audit Flowcharts solution from the Finance and Accounting area for designing professional looking and attractive Audit Flowcharts.  Read more... →
Auditing Standards
Picture: Auditing Standards
Related Solution: Audit Flowcharts

Pyramid Diagram
The Time-Money-Quality Triangle illustrates an advertising truism, that you can't have all three.  Read more... →
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Picture: Pyramid Diagram
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Microsoft® Windows® 7/8.1/10

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