Skill description
Delivering independent, risk-based assessments of the effectiveness of processes, the controls and the compliance environment of an organisation.
Guidance notes
Audit activity is conducted with appropriate independence from the organisation's management and may be conducted internally or for a third-party client organisation.
Activities may include, but are not limited to:
- planning and conducting risk-based assessments.
- evaluating the effectiveness of controls and compliance measures.
- documenting and reporting audit findings and recommendations.
- providing assurance on the integrity of processes and systems.
- collaborating with management to develop corrective action plans.
- conducting follow-up reviews to ensure implementation of recommendations.
- staying current with relevant regulations and industry standards.
Level 2Assist
Assists in collecting evidence and conducting audit activities under routine supervision.
Maintains documentation and audit trails.
Helps identify and report issues and discrepancies.
Level 3Apply
Adopts a structured approach to executing and documenting audit fieldwork, following agreed standards.
Maintains integrity of records to support and satisfy audit trails.
Identifies typical risk indicators and explains prevention measures.
Level 4Enable
Contributes to planning and executing of risk-based audit of existing and planned processes, products, systems and services.
Identifies and documents risks in detail.
Identifies the root cause of issues during an audit and communicates these effectively as risk insights.
Collates evidence regarding the interpretation and implementation of control measures.
Prepares and communicates reports to stakeholders, providing a factual basis for findings.
Level 5Ensure, advise
Plans, organises and conducts audits of complex domains areas, cross-functional areas and across the supply chain.
Confirms the scope and objectives of specific audit activities with management.
Aligns with the scope of the audit programme and organisational policies.
Determines appropriate methods of investigation to achieve the audit objectives.
Presents audit findings to management describing the effectiveness and efficiency of control mechanisms.
Provides general and specific audit advice.
Collaborates with professionals in related specialisms to develop and integrate findings.
Level 6Initiate, influence
Leads and manages complex audits and programmes of audit activity.
Obtains and manages appropriate specialist expertise to contribute highly specialised technical knowledge and experience.
Develops organisational policies, standards and guidelines for the conduct of audits.
Ensures the objectivity and impartiality of the audit process.
Identifies areas of risk and specifies audit programmes.
Ensures audit coverage is sufficient to provide the business with assurance of adequacy and integrity.
Authorises the issue of formal reports to management on the effectiveness and efficiency of control mechanisms.
Level 7Set strategy, inspire, mobilise
Directs the definition and implementation of the organisation's audit function, and oversees its communication to stakeholders.
Defines audit strategy, plans audit cycles and ensures appropriate coverage across the organisation.
Ensures the audit function adds value.
Liaises with stakeholders to ensure audit coverage is relevant and understood.
Directs use of risk analysis to identify areas for review.
Ensures appropriate resources are available to deliver organisational requirements for audits.
Reports to the most senior level on findings, relevance and recommendations for improvement of audit activity.
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