Auditing for Managers: The Ultimate Risk Management Tool

Author: Jennifer M. Pickett K. H. Spencer Pickett
Publisher: John Wiley and Sons Ltd
Category: Finance & Accounting, Management Accounting & Bookkeeping, Management & Management Techniques
Book Format: Paperback

Auditing For Managers: The Ultimate Risk Management Tool is an essential resource for busy managers and review teams, setting standards for self-audit, risk management, compliance reviews and formal disclosure reporting. Covering a much overlooked area, ittakes the techniques for performing reliable and defensible audit reviews into the general business risk management and controls arena.

Key Features: A simple, jargon-free, ‘ how to do’ format that can be used by managers to ensure speedy and successful completion of internal reviews of their enterprise risk management process. Guidance covering various different audits including management audits, formal investigations and control risk self-assessments. A comprehensive set of standards that can be adapted and adopted by managers from all types of organizations to help them develop a systematic way of performing internal reviews. A brand new business assurance tool is introduced called A4M.99: Auditing for Managers based on 99 key values - a solution to the current problem whereby published corporate disclosures regarding systems of internal control mean little or nothing to the typical business manager, who is asked to sign up to them.

Although auditing is seen by many as a specialist process, it may nevertheless be applied by all levels of management to improve their systems. It is the ultimate risk management tool.

Table Of Contents

Abbreviations.1. Why auditing?Introduction.Why auditing?External auditing.Internal auditing.Compliance auditing.Fundamental components.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.2. The wider governance context.Introduction.The accountability dilemma.Corporate governance.The ethical platform.The risk management concept: roles and responsibilities.Internal controls.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.3. Basic risk concepts.Introduction.The risk model.Risk identification.Risk assessment.Risk mitigation.Risk appetites.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.4. Different audit approaches.Introduction.Different strokes.The past.The present.The future.Making choices.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.5. The manager's initial audit.Introduction.Leading with risk.Overall strategy.Planning.Field work.Reports and the risk register.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.6. The team's initial audit.Introduction.The team initial audit concept.Establishing the programme.Running workshops.A short example.Getting the best out of people.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.7. The manager's initial investigation.Introduction.What is at stake.Reputation management.Types of investigations.Finding out.Making sense and making good.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.8. Successful risk management.Introduction.Building on the risk concepts.The risk policy.Links to control.Driving and leading.Tuning into enterprise risk management.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.9. Achieving the cultural shift.Introduction.Starting from zero.Why culture changes.Change and the systems perspectives.Creative work teams.The ultimate in risk management: auditing for all.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.10. Reporting results.Introduction.Public disclosures.Professionalism and credibility.Evidential base.Using the risk register.Good reporting.Common mistakes.Check your progress.Newsflash - read all about it.The key messages.11. So, why auditing?Introduction.Why auditing?External auditing.Internal auditing.Compliance auditing.Fundamental components.Common mistakes.Check your perceptions.Newsflash - read all about it.The key messages.A final word.Appendix A: Manager's initial audits standards and guidance.Appendix B: Team initial audits standards and guidance.Appendix C: Manager's initial investigations standards and guidance.Appendix D: Checking your progress - your score.Appendix E: Staff surveys.Index.

About K. H. Spencer Pickett

K.H. Spencer Pickett is a Course Director at CPMS, in Ascot, Berkshire, where he is responsible for training programmes on internal audit, corporate governance and risk management. Spencer is a member of the Chartered Association of Certified Accountants, Institute of Internal Auditors, Certified Fraud Examiners and Chartered Institute of Personnel and Development. Jennifer M. Pickett is currently a senior Project Manager in a large organization, having previously been the Business Planning and Assurance Manager responsible for coordinating the corporate risk register.