Keyword Analysis & Research: questions to ask in an audit walkthrough

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Frequently Asked Questions

Are audit walkthroughs sufficient?

Usually, audit walkthroughs are not sufficient to support lower control risk assessments (those less than high). If the auditor assesses control risk at less than high, she is required to test the effectiveness of the control. Since audit walkthroughs are usually a test of one transaction, they typically don’t prove operating effectiveness.

What are the best questions to ask in an audit?

This style of questions helps keep things in plain English, maximising the chance that auditees actually understand what you are looking for. Often simple questions are the best. Questions like “What if…” can be a great way of exploring contingency and looking at low-likelihood events.

How to prepare for an audit?

Requesting and obtaining documentation on how the process works is an obvious next step in preparing for an audit. The following requests should be made before the start of audit planning in order to gain an understanding of the process, relevant applications, and key reports: All policies, procedure documents, and organization charts

What is a walkthrough check?

Typically, walkthrough checks are done just before a scheduled internal controls process walkthrough audit. In these cases, no one knows the exact timing of an audit, only that they have a space of time in which one can happen. They are also often performed during business transitions, such as mergers, or for internal documentation activities.

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