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Unformatted text preview: Control Matrix 3 The key controls identified on the Matrix represent the controls to be tested in the next phase. & Design test procedures for each key control & Identify and document test results including problems noted (control operation issues) & Discuss with management the control operation issues Test Design 4 The test results become the basis for the first draft of the audit report. & Prepare the draft of the audit report using the following structure : & Memo & Conclusion & Background information & Scope & Objectives & Proposals/Agreed action plans & Risk Template and key controls as appendices & Other appendices & Present and discuss the draft report with management to obtain agreement on actions needed. 5 Report Drafting 6 Final Audit Report & Communicate the final report to the appropriate levels of management and the Audit and Finance Committee of the Board of Governors...
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- Spring '11