The Auditor's Guide to Internet Resources, 2nd Edition is the only book on the Internet written expressly for internal auditors. Expanded and updated to include the latest Internet trends and resources, the book provides all the Internet competency skills auditors need to become digitally literate. Order your copy now!  Call 877-867-4947 (Toll free in U.S. and Canada) or FAX 770-442-9742 or email iiapubs@pbd.com  Use Order Number KPR320 and receive the IIA member price. It pays to use AuditNet! 

Available on CD-ROM!

AuditNet Free!

AuditNet remains free to the global audit
community because it is sponsor-supported. Support our sponsors and you support AuditNet and ensure it's continued existence.

If you are marketing to the audit community, there are many opportunities for corporations and vendors to sponsor the AuditNet site. Contact editor@auditnet.org for advertising, sponsorship or partner information.

Software Compliance Auditing Update

The following information and links to articles was recently shared by PC Profile. Check them out!

Your current PC based system isn't a patch on what it used to be .........!

Your software audit results MAY BE CORRUPTED!

This information may affect all those who are RELYING on the information provided to audit their systems as a means of proving they are software compliant. Some may have already started seeing unusual audit results not expected at desktop level or may have jumped already to wrong conclusions!

What needs to be understood is that Microsoft has now made it exceedingly difficult to tell you what is installed on your systems due to the application of further patches and fixes derived via Update Now or downloads
from their web site.

Details located at; http://www.pcprofile.com/patches.htm

ARTICLES ON FREE AUDIT SOFTWARE? and WEB Based Audits

If you are using software illegally (or know someone else who is) then there is now no excuse for hiding behind all the weak excuses that many tend to use.

There is now a FREE software tool that will help you (or your friends) cleanup your act BEFORE you get caught out!

Don't say you weren't warned! The FREE Software Audit tool is located at http://www.pcprofile.com

These two new articles walk you through information about FREE Software Audit Tools and the Risks of Web Based Audits

FREE AUDIT SOFTWARE and Web Based Audits 

For links to articles and vendors for Software Compliance Auditing go to the AuditNet Library and click on Software Compliance Auditing.

Returns Management Work Program

AuditNet welcomes an article or audit tool each month from Andersen's KnowledgeSpace. KnowledgeSpace is a subscription-based web site that provides, tools, resources and best practices to help internal auditors save time, manage risk, and add value. For more information go to www.knowledgespace.com 

This month's contribution is a work program for returns management with the following objectives:

• Evaluate controls in place to ensure proper approval and accurate/timely processing of customer requests to return product/materials.
• Evaluate overall efficiency of the returns management process.
• Analyze flow of communication between sales, order administration, and warehouse teams.
• Provide management team with cost effective suggestions to improve the general control environment as well as to increase operating efficiency.

Click on the of symbol for the complete work program generously shared by Andersen's KnowledgeSpace® Internal Audit and Risk Management Community.  

AutoAudit takes the "paper" out of paperwork for HUD Inspector General.

The Office of Inspector General at the Department of Housing and Urban Development implemented AutoAudit software to assist its 300 auditors in transforming the OIG office into a paperless environment. The HUD audit staff conducts 160 audits each year creating an average of 3,600 pages of information per audit. Adding to the challenge is the fact that the HUD audit staff is distributed across the country, working out of more than 15 local and district offices as well as the headquarters in Washington, DC. 

To read how OIG HUD uses AutoAudit click here.

The Audit Process Step-by-Step

AuditNet added a section for new (and seasoned) auditors detailing the audit process using a step-by-step approach. The section will include templates, sample documents, flowcharts and links to other resources. I remember (vaguely) what it was like when I started out in the audit profession. I would have readily embraced an online resource that guided me into new and unfamiliar territories. Unfortunately the Internet was not an option then so I had to turn to peers, books, and a lot of internal and external training.  The success of these pages will rely on the philosophy of Auditors Sharing Knowledge (ASK) for Progress and grow as more seasoned auditors contribute and find value in educating others in their own best and continuing practices!

Go the Virtual Library page for the beginnings of this  new resource. 

New Opportunities for Listings in AuditNet

Vendors of audit related goods and services now have an opportunity for inclusion in the list of audit resource links. This new fee-based service provides an opportunity for consultants and vendors to purchase a listing for the most widely distributed list of audit resources on the Internet. Paid listings will include a $ designation to distinguish them from sites that include free resources for auditors. For more information send an email to editor@auditnet.org. 

Partner with AuditNet

 

If you sell goods or services to the auditing community consider AuditNet as your partner for global outreach. Offer AuditNet users a discount on your product or service and we will include a link to your site on the AuditNet Partner Discounts page.

 

White-Collar Crime Fighter www.wccfighter.com the only source of exclusive, authoritative "how-to" information for financial crime fighters offers AuditNet users a discounted subscription rate of $77-- a savings of $20 off the regular rate.

Highlights from the April 2002 issue include The Anatomy of a Modern-Day Embezzlement Investigation, Essential Steps for Safeguarding Your Sensitive Secrets and more.   

This is a great publication and well worth the annual subscription rate. I find at least one practical article from each issue that helps me focus on fraud issues within my organization! 

 
New Programs and Workpapers 
Added to AuditNet

Auditors Sharing Audit Programs and Workpapers

The following audit programs, ICQs, checklist or workpapers were added this month. They are in format unless otherwise specified. Go to the AuditNet home page or the  Audit Programs page for other formats 

1. Accounting Sheet Format Style for Excel
2. COSO Control Evaluation Form
3. Fiber Sales and Procurement Audit Program
4. IP Telephony Questionnaire
5. IT Integration Audit Program
6. Journals Audit Program
7. Management and Internal Control Evaluation
8. Safety deposit boxes Questionnaire
9. SAP Systems Parameters Review
10. Tender process Audit Program

New Audit Program Requests

If you have a program that would address these areas or would just like to contribute to Auditors Sharing Knowledge for Progress, send it along to editor@auditnet.org. To see more audit programs that auditors are looking for, go to Audit Programs and scroll to the bottom of the page.

Application Maintenance Audit Program
IT Project Quality Monitoring
Medicaid Managed Care
Oracle Environment Audit Program
Order Fulfillment Process audit program

Audit Programs in the Queue!

The following audit documents will be posted next month. Interested in them now? Send an audit work program, ICQ, checklist or other audit template and receive them via e-mail. Your contribution must include your name and email address. 

AIX Control and Risks
Client Derivatives Audit Program
Hotel Surprise Cash Count
Sub-recipient Monitoring Checklist
Subcontracting Job Processing Activity

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Productivity Tip

Searching: Tapping into the Find Feature of Your Browser!

How many times have you used a search tool to find information and then clicked on the resulting link only to find that you had to scroll down the page to locate the data? There is an easy solution to this problem the next time it happens. In Internet Explorer when you go to the page from the search results, click on "Edit" and then click on "Find (on this page)" or hit the Ctrl-F keys. You will then be presented with a query box that allows you several options for searching the page. Netscape has a similar feature to assist you in searching a page for information. Savvy auditors tap into these little used features to help facilitate searching for useful audit information. 

Check out the AuditNet search page at www.auditnet.org/search.htm

For more productivity tips order a copy of The Auditor's Guide to Internet Resources 2nd Edition from the IIA

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Looking for a few good men (or women) Audit Candidates?

Consider using the AuditNet Audit Jobs area. The page provides exposure to over 17,000 audit professionals every month from all over the world. The Jobs page receives between 3000-4000 hits per month. The cost is low. Tell your HR department about using this option when you are looking for audit candidates. Go to the AuditNet home page at www.auditnet.org and click on Audit Jobs. Click on Post Jobs for posting information.

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The Thirteenth Annual Superstrategies Audit Best-Practices Conference is coming to Orlando, April 22-24, 2002, with optional workshops April 21 and 24. This highly acclaimed conference from MIS Training Institute is known for its faculty of hands-on audit pros, proven techniques, and unprecedented networking opportunities. For conference details, to register, and to check out MIS' Team-Up-for-Savings offer click here

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Fourth World Continuous Auditing and Reporting Symposium

The Information Systems Institute of Salford University will host the Fourth Continuous Auditing and Reporting Symposium, April 18th and 19th, 2002 in the Harold Riley Suite at Salford University, Greater Manchester, England.
The two day event is sponsored as follows:-

Main sponsor, the Institute of Chartered Accountants England and Wales (ICAEW).

Gold sponsor, ACL Europe. Silver sponsor, the Information Systems Audit Control Association, ISACA.

 

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We'll Get By With a Little Help From Our Friends!

Tell a friend about the AuditNet Web site and how to subscribe to the monthly newsletter update or have them send an e-mail to editor@auditnet.org and I will add them to the list. 

More Software Compliance Auditing News for AuditNet Users
No Budget for Audit Software
(AuditNet Article exclusive from PCProfile)

An AuditNet exclusive from PCProfile discusses the issue of overcoming management resistance to investing in software audit tools. The article provides very convincing arguments on why management should be taking this risk seriously!

Click here for the complete AuditNet exclusive! 

Declaring War on Software Pirates 

Save $$ on the 
Software Compliance Auditors Toolkit

Be prepared when the software police come knocking on your door!

AuditNet Users Save $200 - Save $$ and get legal! Check it out!

Looking for an audit job? Go to AuditNet's Audit Jobs section for the latest job opportunities. 24 hours a day, 7 days a week you have the ability to not only look at available jobs, but you can also post your resume, apply for open jobs, research companies and obtain career advice. If you are in the market for a new job, make AuditNet your first stop to check out what's available.

This is just another benefit of using AuditNet as your one stop shop for all your audit and career resources.

Help Keep AuditNet Current!

AuditNet is a tool used by auditors from around the world. It is therefore very important that the links are current.  If you find a link that is outdated, broken, or going to the wrong site, be a helpful user and let us know. Send an email to editor@auditnet.org and provide the details including the date, URL of the bad address and  the name of the site. We will do our best to  either correct the link or remove it so that all AuditNet users benefit. 

Thanks!  

The Editor

Online Workpaper Tips for Auditors

Auditors are always looking at operating more efficiently and effectively. This means not only looking at entities external to the audit function but also looking within. Automating working papers has been an endeavor that audit functions have implemented or considered. This subject also appears in online discussion forums periodically. Recently the following question was raised in the Audit-L discussion list. 

Our department is considering moving to online work papers. We have examined several software packages, but we have not found anything that we like enough to spend that kind of money. We are a small office (director, one staff auditor, three student auditors), and we are thinking of developing our own system. Our plan is to have a main document in Excel and use hyperlinks to supporting documents which would be stored in appropriate subdirectories.

Have any of you developed your own online work paper system? What kind of advice do you have for us?

The following response was provided by Dez (DNyitray@Victaulic.com)

We have started putting the supporting documents into the actual audit program as inserted files using the procedure below. It works in both Word and Excel.

Put cursor where you want the doc.
Click on Insert
Object
Create from file
Browse - find it
Click on "Display as Icon"
OK

Click here for an example of how this works. 

Do you have an automated workpaper tip to share with fellow auditors?

If so then send it to editor@auditnet.org and I will post it in next month's newsletter!

For automated workpaper solutions for your audit office check out the following AuditNet sponsors:

CAREER TIPS FOR AUDITORS

Let The Real You Shine Through

by Robbie Miller Kaplan

Looking for a job in a faltering economy during a period of high unemployment is tough. While you may find it difficult to locate the right job, it may be a comfort to know that employers struggle as well to find the right applicant to match their job openings. Edge out the competition and make it easier for employers to select you from the pack by integrating some of these techniques into your job search strategy.

1. Resumes tend to be flat so make yours come alive by selecting descriptive words that clearly demonstrates the scope, depth, and breadth of your experience and accomplishments.
2. Research the job you would like and identify all of the requirements. Ensure that your resume is written and produced to easily demonstrate how your qualifications match each and every job requirement.
3. Use a cover letter to more carefully target and market your unique qualifications for each job.
4. Maximize the cover letter’s content by providing personal details and attributes that shed light on your personality. This is the place to let employer’s know you have initiative, drive, integrity, a hard-working nature, or the ability to persevere.
5. Invigorate the interview process by demonstrating originality and passion. Avoid canned responses to questions such as: Why are you interested in working for the organization? What do you plan to be doing in five years? Why did you choose the career, industry, or job? Instead, prepare and tailor your answers to let the real you shine through.

Good luck!

Each month the AuditNet Resource Newsletter includes a career-related tip from Robbie Miller Kaplan, author of How to Say It in Your Job Search. If you like these tips, check out her books! For more career tips go the Job-Resources Web site at www.job-resources.com.

Book Review 

The Financial Numbers Game: Detecting Creative Accounting Practices

By Charles W. Mulford and Eugene E. Comiskey

Timing is everything and so it is the case with this new book from John Wiley. With the recent events surrounding Enron here is a book that seeks to explain to investors, analysts and financial statement users creative accounting practices. For the full review go to www.auditnet.org/auditnet-l.htm and look for the link under the book review section.

For the full book review click here!

Book Review 

Digital Analysis Using Benford's Law 

by Mark J. Nigrini

Benford's Law, first identified by Simon Newcomb in 1881, states that if you randomly select a number from a table of physical constants or statistical data, the probability that the first digit will be a "1" is about 30%, rather than 10% as we might expect if all digits were equally likely.

According to Mark Nigrini, the author of Digital Analysis Using Benford's Law, the audit technology known as Digital Analysis (DA), tests for abnormalities in the digit patterns and abnormal number duplication in corporate data. Mr. Nigrini does a formidable job of explaining how to use digital analysis in performing audit tests of data.

For the full book review click here!

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