• Audit Management

Audit & Issue Tracking

  • Re-use and evolve the audit approach

    Your department's existing methodology and detailed electronic workpapers templates can quickly and easily be incorporated into a master audit template, so that TeamEWP (Electronic Working Papers) matches the way you work. Once a project file has been created from the chosen template, its work plan is further built from a database known as a TeamStore, which includes work programs and procedures; electronic working papers templates; standard wordings of audit findings and issues; and details of your risk and control library.

    Templates

    • TeamEWP (Electronic Working Papers) project files are created from user-defined templates. Using a TeamEWP Template enables your department’s standard TeamEWP file structure and terminology to be applied to each and every project.
    • In addition, any and all procedures to be performed on every project, planning checklists and documents, notification letters, risk matrices etc., included in your Template will be automatically inserted into each new project file.
    • Creating a Custom Template for your department will help ensure that all of your best practice elements are included in each new project and the electronic workpapers structure will be standardized.
    • In addition to a standardized look and feel, a TeamEWP (Electronic Working Papers) Template provides assurance that your teams adhere to organizational requirements. New user training time is minimized and, overall, your teams spend less time getting started. Your TeamEWP Template will enable your teams to “hit the ground running.”
    • The Template is used as a “Head Start” when creating new projects and users can create a number of different Templates for different types of engagements. By including detailed audit procedures in a Template, it is possible to create “off-the-shelf” project files for regularly performed assignments. Complete project templates can be created from any existing project file.

    TeamStores

    • If you have any existing standard work programs and/or electronic working papers, these can easily be migrated to TeamStore, enabling you to import them into project files in seconds.
    • Reportable issues can also be saved in your TeamStore for future use. The next time the same issue is encountered, a draft write-up of the finding and/or recommendation can be imported from the TeamStore.
    • Work programs, electronic working papers and issues documented in TeamEWP (Electronic Working Papers) project files can be exported to TeamStore so that information is captured only once. Individual cabinets within TeamStores can be restricted so that only authorized team members can move these new programs, workpapers and issues into production.
    • The Risk Library, which includes user-defined Objectives, Risks, and Controls, is housed and maintained within the TeamStore.
    • Risk and Control data is easily accessible from within TeamRisk risk based auditing during the performance of risk assessments. Risks and Controls can also be imported directly into any TeamEWP (Electronic Working Papers) audit file as such items are identified during the course of audit planning and execution.
    • Risks, Controls, and Procedures can be linked in the TeamStore to establish a relationship that is evident when they are imported into an audit file.