Manage engagements The audit engagement process involves creating, planning, scoping, and conducting engagements as well as reporting on engagement findings. Engagement process The base system audit engagement process includes steps for scoping, validating, conducting, and approving engagement results. It also contains steps for following up on open audit tasks and issues, and finally closing out the audit engagement. Table 1. States of the engagement process State Description Scope During the Scope state, audit managers define which profiles will be involved in the audit engagement. For example, for a financial audit, one may include all business services that the finance department relies on and the finance department itself. See Add profiles to an engagement scope. Validate After an engagement has moved to the Validate state, all of the risks, controls, and test plans associated with the profiles in the engagement's scope will be associated with the audit. Indicator results that were collected during the engagement's audit period will also be associated with the audit. Audit managers can review the risks, controls, test plans, and indicator results, and update the engagement's scope, if necessary. Audit managers can also begin creating and planning audit tasks for the engagement. To move an engagement into the Validate state, click Validate on any engagement currently in the Scope state. Fieldwork Auditors complete their assigned audit tasks during the Fieldwork state. These tasks include control testing, interviews, walkthroughs, and other activities. Issues that are found during control testing are associated with the engagement. Auditors can also create general issues associated with the engagement. Audit managers can create additional audit tasks as needed. When the audit is done, audit managers specify the result of the engagement, whether it's satisfactory, adequate or inadequate, and provide details on their opinion. To move an engagement into the Fieldwork state, click Advance to Fieldwork on any engagement currently in the Validate state. See Audit task management. Awaiting Approval During the "Awaiting Approval" state, the approvers specified in the engagement's Approvers field review the results of the audit tasks conducted and the issues that were created. After reviewing the results of the engagements, approvers approve or reject the engagement. To move an engagement into the Awaiting Approval state, click Request approval on any engagement currently in the Fieldwork state. See Approve or reject an engagement. Follow Up After an engagement has been approved, if there are any remaining open tasks or issues associated with the engagement, the engagement automatically goes into the Follow Up state. During this stage, auditors most close out all remaining issues and tasks before the engagement will be marked as complete. Closed Engagements move into the "Closed" state under one of three conditions: The engagement is closed as incomplete during the Scope, Validate, or Fieldwork states. There are no open audit tasks or issues after the engagement is approved. In this case, the engagement automatically moves from the Awaiting Approval state to the Closed state. All of the follow up issues and tasks are closed out. In this case, the engagement automatically moves from the Follow Up state to the Closed state. Audit task managementAudit tasks are completed throughout an engagement and provide documented evidence that the organization is complying with external regulations and internal policies. Create an engagementAudit managers create engagements to manage audit information and collect profiles, controls, and control tests that are relevant to the audit.Create an engagement from a previous engagementAudit managers can create engagements from previous engagements to reduce the need to redefine the scope, auditors, and approvers for similar engagements that are conducted throughout the year.Create a control test from an engagementAfter defining a control, audit managers create control tests that run periodically and provide documented evidence of whether the associated control is operating correctly.Create an activityAfter defining a control, audit managers create activities that explore and provide documented evidence of whether the associated control is operating correctly.Create an interviewAfter defining a control, audit managers create interviews with control owners to discuss and provide documented evidence of whether the associated control is operating correctly.Create a walkthroughAfter defining a control, audit managers create walk throughs that will be conducted to observe and provide documented evidence of whether the associated control is operating correctly.Generate a KB article from an engagementAudit managers can generate a KB article that summarizes the findings of an engagement so report findings can be communicated to executives.Approve or reject an engagementAudit users that are assigned as approvers for an engagement can approve or reject engagements in the Awaiting Approval state. Add profiles to an engagement scopeAudit managers define which profiles will be involved in the audit engagement.Use the Audit Engagement Workbench to visually manage engagementsThe Engagement Workbench provides a timeline view from which you can select an audit engagement to view details or create a new engagement. Previous TopicManage test templates and test plansNext TopicManage GRC key risk and control indicators
Manage engagements The audit engagement process involves creating, planning, scoping, and conducting engagements as well as reporting on engagement findings. Engagement process The base system audit engagement process includes steps for scoping, validating, conducting, and approving engagement results. It also contains steps for following up on open audit tasks and issues, and finally closing out the audit engagement. Table 1. States of the engagement process State Description Scope During the Scope state, audit managers define which profiles will be involved in the audit engagement. For example, for a financial audit, one may include all business services that the finance department relies on and the finance department itself. See Add profiles to an engagement scope. Validate After an engagement has moved to the Validate state, all of the risks, controls, and test plans associated with the profiles in the engagement's scope will be associated with the audit. Indicator results that were collected during the engagement's audit period will also be associated with the audit. Audit managers can review the risks, controls, test plans, and indicator results, and update the engagement's scope, if necessary. Audit managers can also begin creating and planning audit tasks for the engagement. To move an engagement into the Validate state, click Validate on any engagement currently in the Scope state. Fieldwork Auditors complete their assigned audit tasks during the Fieldwork state. These tasks include control testing, interviews, walkthroughs, and other activities. Issues that are found during control testing are associated with the engagement. Auditors can also create general issues associated with the engagement. Audit managers can create additional audit tasks as needed. When the audit is done, audit managers specify the result of the engagement, whether it's satisfactory, adequate or inadequate, and provide details on their opinion. To move an engagement into the Fieldwork state, click Advance to Fieldwork on any engagement currently in the Validate state. See Audit task management. Awaiting Approval During the "Awaiting Approval" state, the approvers specified in the engagement's Approvers field review the results of the audit tasks conducted and the issues that were created. After reviewing the results of the engagements, approvers approve or reject the engagement. To move an engagement into the Awaiting Approval state, click Request approval on any engagement currently in the Fieldwork state. See Approve or reject an engagement. Follow Up After an engagement has been approved, if there are any remaining open tasks or issues associated with the engagement, the engagement automatically goes into the Follow Up state. During this stage, auditors most close out all remaining issues and tasks before the engagement will be marked as complete. Closed Engagements move into the "Closed" state under one of three conditions: The engagement is closed as incomplete during the Scope, Validate, or Fieldwork states. There are no open audit tasks or issues after the engagement is approved. In this case, the engagement automatically moves from the Awaiting Approval state to the Closed state. All of the follow up issues and tasks are closed out. In this case, the engagement automatically moves from the Follow Up state to the Closed state. Audit task managementAudit tasks are completed throughout an engagement and provide documented evidence that the organization is complying with external regulations and internal policies. Create an engagementAudit managers create engagements to manage audit information and collect profiles, controls, and control tests that are relevant to the audit.Create an engagement from a previous engagementAudit managers can create engagements from previous engagements to reduce the need to redefine the scope, auditors, and approvers for similar engagements that are conducted throughout the year.Create a control test from an engagementAfter defining a control, audit managers create control tests that run periodically and provide documented evidence of whether the associated control is operating correctly.Create an activityAfter defining a control, audit managers create activities that explore and provide documented evidence of whether the associated control is operating correctly.Create an interviewAfter defining a control, audit managers create interviews with control owners to discuss and provide documented evidence of whether the associated control is operating correctly.Create a walkthroughAfter defining a control, audit managers create walk throughs that will be conducted to observe and provide documented evidence of whether the associated control is operating correctly.Generate a KB article from an engagementAudit managers can generate a KB article that summarizes the findings of an engagement so report findings can be communicated to executives.Approve or reject an engagementAudit users that are assigned as approvers for an engagement can approve or reject engagements in the Awaiting Approval state. Add profiles to an engagement scopeAudit managers define which profiles will be involved in the audit engagement.Use the Audit Engagement Workbench to visually manage engagementsThe Engagement Workbench provides a timeline view from which you can select an audit engagement to view details or create a new engagement. Previous TopicManage test templates and test plansNext TopicManage GRC key risk and control indicators
