tailieunhanh - Harnessing the Power of Continuous Auditing_7

Tham khảo tài liệu 'harnessing the power of continuous auditing_7', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Components of a Real Action Plan 167 performed according to strict time frames. With such tight time frames it is imperative that action item owners clearly understand the exception detail and recognize what it will take to make the action real. Cause-Specific Action Although it has been mentioned a couple of times so far it is important to note once again that the specified action plan must address the root cause. Having an action plan that is focused on the true root cause jointly identified by business process owners and responsible auditors is the second component of a real action. Symptom fixes or condition-focused action plans may appear as viable solutions to the noted exception details but in reality their implementation will not produce improved results in the subsequent testing performed. And even though the continuous auditing methodology will identify that the implemented action plan was not focused on the root cause. Under this scenario it could take a couple of months before the incorrect incomplete or inappropriate action is discovered. Also this detective discovery will require additional time to be dedicated to the forensic effort needed to research and review previous work and root cause analysis. It cannot be stressed enough how important it is for you as the responsible auditor to spend time explaining exception component details to business process owners when requesting the associated action plan. Also remember to challenge process owners when you feel that the suggested action plan may not fully address the root cause component of the exception. All responsible auditors should ask business process owners if this suggested action plan is implemented will it address the root cause and bring the corresponding risk to an acceptable level. Any response other than yes must be challenged to ensure an effective action plan gets developed. Achievable Target Date The final component of a real action plan is an achievable target date. All action plans .