EC, TYPES OF AUDIT, AEP

It is a separate evaluation of the effectiveness of the internal controls adapted in the operating and support services units/systems, whether it achieves the control objective over a specific date or period of time.

• Compliance audit

• Management audit

• Compliance review

• Compliance audit

All of the activities are conducted during an Exit Conference/Closing Meeting, except:

• Advise that the audit evidence collected was based on a sample of the information

• To show any related post-audit activities

• To present how the audit findings should be addressed

• To explain the consequences if the initial audit findings are not addressed

• To present the 4Cs

It is a separate evaluation of the outcome, output, process and input to determine whether government operations, including management and personnel structure in programs/projects are effective, efficient, ethical and economical.

• Operations audit

• Compliance audit

• Management audit

• Internal Quality Audit

Compliance audit is the necessary 1st step before we conduct a management or operations audit.

• True

• False

It is the evaluation of the degree of compliance of supervision or control with laws, regulations, managerial policies, systems and processes of government, including compliance with accountability measures, ethical standards and contractual obligations.

• Compliance review

• Management audit

• Operations audit

• Compliance audit

What is the 1st Phase of Audit Process?

• Audit Engagement Planning

• Audit Execution

• Audit Reporting

• Audit Follow-up

It is the periodic review conducted by the heads of operating and support offices/units to ensure that operations and processes are in compliance with laws, regulations, policies, procedures, or other requirements.

• Management audit

• Compliance audit

• Compliance review

• Operations audit

It is enough that a unit regularly reviews the level of its performance. It should not undertake review of its compliance with laws and regulations, among others.

• True

• False