Determine Auditee Objectives
Types and Sources of Relevant Information
If available documentation is not sufficiently comprehensive
Ask the individuals involved in the process questions
Analytical Procedures
Evaluating existing information,
Data Analysis Using Computer-Assisted Audit Techniques (CAATs)
Entity-Level Controls Analysis
Documenting the Process Flow
Identifying Key Performance Indicators
Aligned with key objectives of the business and process.
Articulated to the people involved
Evaluating Process-Level Fraud Risks
Identify potential fraud scenarios.
Understand potential fraud impact.
Determine whether to test for specific fraud risks.