Business Process Reviews
Business process reviews are assurance engagements that provide management with an assessment as to how overall business processes are functioning and whether or not such processes are achieving business objectives. Business process reviews test the adequacy and effectiveness of internal controls across traditional Institute boundaries, allowing management a broader perspective on internal control; they evaluate and test key controls over financial, operational, and compliance risks. Business process reviews frequently encompass an information technology focus.
Operational and Information Technology
Operational and Information Technology auditors collaborate to deliver effective and efficient coverage. Formal opinion-based reports to stakeholders include Audit's recommendations to address noted deficiencies, and responses from management, including corrective action plans. Business process reviews represent the most significant investment of Audit Division resources (i.e., person hours.)