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tls043 tls043
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Discuss each of the three phases of an operational audit.
Textbook 

Auditing and Assurance Services


Edition: 17th
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Cow5215Cow5215
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Planning. In the planning phase, the auditor must determine the scope of the engagement, and communicate it to the organizational unit. It is also necessary to staff the engagement properly, obtain background information about the organizational unit, understand internal control, and decide on the appropriate evidence to accumulate.
Evidence accumulation and evaluation. In operational auditing, it is common to use inspection, client inquiry, analytical procedures and observation extensively, while confirmation, reperformance, and recalculation are used less extensively for most operational audits than for financial audits. Operational auditors must accumulate sufficient appropriate evidence to provide a basis for a conclusion about the objectives being tested.
Reporting and follow-up. The audit report is tailored to address the scope of the audit, findings, and recommendations and is typically sent only to management, with a copy to the unit being audited. The lack of third-party users reduces the need for standardized wording in operational auditing reports. When recommendations are made to management, follow-up is done to determine whether the recommended changes were made, and if not, why not.

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