Internal Audit Handbook（2007）C2-Audit Basics.pdfVIP

2 Audit Basics 2.1 Overview of the Audit Process Key Points ••• • Before the start of standard and special audits listed in the annual audit plan, Internal Audit should send out audit announcements to the auditees. • The work program is compiled with due consideration for the objectives of the audit. • An opening meeting with the auditees is conducted before the fieldwork begins. A closing meeting is held after fieldwork is complete to review the results of the audit fieldwork. • The audit report contains information on the objective, extent, and results of the audit. • During the follow-up phase, Internal Audit checks whether the audit recom- mendations have been implemented. AuditAudit RoadmapRoadmap Internal Audits audit work can be divided into five main phases according to the Audit Roadmap (for details, see Section B). The practical examples of internal au- dits at SAP are presented in the following chapters using the phases of the Audit Roadmap. However, since the planning phase is a process independent of the actual audits, it is discussed separately in Section B, Chapter 2 and Section D, Chapter 3. This chapter briefly explains selected aspects of the Audit Roadmap before provid- ing an overview of the general basis of practical audi