Wk 4 Walmart Audit (Work Program Phase)
Wk 4 Walmart Audit (Work Program Phase)
Next Phase of this project.
Work Program Phase The Work Program Phase is the bridge between the Planning and actually doing the Field Work. In this phase, you will develop a work program in which you identify time, staff, and materials necessary to carry out that work program. A Gantt chart, similar to the one illustrated on page 113 of the Reider text, may be used, or any other similar schedule showing the allocation of audit team resources. In the real world, these schedules are used in all audits. They aid in the audit team’s understanding of expectations, as well as the client’s understanding of work to be performed for the company.
See enclosed files. (4 pages please)
To assist you with the analysis and getting some ideas flowing, consider the following topics for discussion within your group:
Corporate Culture
Does the culture of a firm get reflected in its appetite for risk or vice versa?
Is there an audit plan to account for culture; is culture a control or lack thereof?
Is it healthy to have aggressive growth targets?
How healthy do you think the corporate culture of your company is after reading the annual report and articles?
Can you tell what the “tone at the top” is in your company?
Expense to Revenue
Is the review of expense ratios to revenue growth a financial audit or an operational audit?
Should competitor performance or industry trends be a factor for an operational auditor?
Is your company on par with, ahead of, or lagging behind its competition?
The Accounting Department/Internal Audit/External Audit
Discuss the pros and cons of the relationship and competency of these functions.
Does it seem like these functions are segregated enough and independent, or does it look like improvements could be made?
Senior Management
Is the competency of senior management an operational audit opportunity?
Is segregation of duties an operational audit opportunity?
Audit Independence and Relationship with External AuditorYou will want to answer these questions as you analyze the information that you are able to find about your company, and then integrate them into your document. Use the Internet, textbooks from other courses you have taken, or other references, but be sure to reference them either within the document or at the end. Keep in mind such things as benchmarking and risk management, and do your research.
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WalmartArticles1.pdf
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OPERATIONALREVIEWWORKBOOKRobReider9781118373514.pdf
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Walmart_2011_Annual_Report1.pdf
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