Internal Audit Process - Fieldwork
Phase 2 - Fieldwork
During the fieldwork phase, auditors gather sufficient, relevant and reliable evidence of actual performance and compare this against expected performance. The intent of internal auditing is to identify gaps between actual and expected performance. While all differences are noted, only significant ones are identified in the reporting phase.
For example if the expected performance is that sensitive documents are kept in a locked safe and the actual performance, based upon fieldwork, shows that sensitive documents are kept in an unlocked desk drawer, the auditor would note this difference. In determining the significance of the difference between actual and expected performance, the internal auditor will consider a number of factors. In drawing a conclusion, the internal auditor will rely upon their independence from the process being audited, their objectivity as a person disinterested in the outcome of the audit and on their professional judgment gained through training and experience.
Internal auditors may conduct interviews, surveys, run focus groups, review documentation, analyze reports, prepare calculations, consult experts and employ any number of other techniques that help them to obtain sufficient, relevant and reliable information.
The conclusions reached by Corporate Internal Audit Services are their professional opinions, based on the evidence collected and the analysis performed, as to how closely actual performance compares to expected performance.
Internal audit recommendations are intended to assist management in moving actual performance closer to expected performance.
