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How does teammate facilitate the audit follow-up process

Assignment Help Auditing
Reference no: EM13184430

1. The components of TeamCentral include which of the following?

a. Implementation Tracking

b. Management Dashboards

c. Suite Wide Reporting

d. All of the above

2. Which of the following must be completed in the EWP issue for the TeamCentral recommendation tracking process to operate effectively?

a. Entity, Auditor, and Estimated Date of Completion

b. Entity, Recommendation Title, and Estimated Date of Completion

c. Recommendation Title, Recommendation Owner, and Estimated Date of Completion

d. Recommendation Title, Entity, and Recommendation Owner

3. TeamCentral Implementation Tracking can be accessed by:

a. Auditors and Contacts

b. Auditors only

c. Contacts only

d. None of the above

4. The Survey Templates created in TeamCentral may be initiated in:

a. TeamSchedule and TeamEWP

b. TeamRisk & TeamCentral

c. TeamTEC

d. TeamEWP & TeamCentral

5. The four preset TeamCentral Dashboards are:

a. Risk Matrix, Recommendation Aging by Quarter, Audit Plan Status, and Milestones

b. Audit Plan Status, Recommendation Aging, Project Milestones, and KPI Tracking Grid

c. KPI Tracking Grid, Risk Matrix, Audit Plan Status, and Project Milestones

d. None of the above

True/False

6. Implementation Tracking is the only view in TeamCentral to which both auditors and contacts can be granted access.

a. True

b. False

7. Comments are not considered status updates and do not affect the status of the recommendation.

a. True

b. False

8. Documentation cannot be attached to recommendation status updates.

a. True

b. False

Discussion Questions

9. How does TeamMate facilitate the audit follow-up process?

10.   Explain the benefits of contacts accessing TeamCentral for implementation tracking.

Critical Thinking Task

Using the Project Status by Type TeamCentral Dashboard graph in Appendix A, explain CPI's internal audit plan project status at the end of the second quarter of 2012. Use the following definitions to help you formulate your conclusions:

-  Identified: Projects identified in TeamRisk not released to TeamSchedule to be scheduled and not released to EWP to begin audit work

-  Scheduled: Projects on the schedule in TeamSchedule but not released to EWP to begin audit work

-  Planning: EWP projects in the planning phase of the audit process

-  Fieldwork: EWP projects in the fieldwork phase of the audit process

-  Draft Report: EWP projects with draft reports completed

-  Responses Accepted: EWP projects with received management responses for audit project issue recommendations

-  Issued: EWP projects with issued final audit reports

-  Implementation Tracking: EWP projects with released issue recommendations for tracking in TeamCentral

-  Closed: Projects closed with all issue recommendations closed

Reference no: EM13184430

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