Audit Planning Process
What is the first step in the audit planning process?
Hold a BU pre-planning discussion
What is the primary objective of fieldwork in an audit?
Gather evidence, assess controls, and validate risks.
What is the primary mission of GD Internal Audit (IA)?
Provide risk-based assurance and advice to management.
What is the role of a Subject Matter Specialist (SMS) in an audit?
To provide technical expertise, participate in fieldwork, and act as a trusted advisor.
BU with the only full-service shipyard on the West Coast of the United States
What is NASSCO?
What is the purpose of the scoping call in audit planning?
To confirm the scope, key risks, and focus areas for the audit.
Which week is the SMS primarily on-site for fieldwork?
Week 1
What are the three lines of defense Internal Audit operates within?
1st – Business Unit Operations, 2nd – Risk Management & Compliance, 3rd – Internal Audit.
An X participates in multiple audits per year, while a X supports a single audit based on need.
What is the main difference between an SMS and a Guest Auditor (GA)?
Unit known for shipbuilding, includes Bath Iron Works and NASSCO among its operations.
What is Marine Systems
How many weeks before fieldwork does the planning phase begin?
18 weeks before fieldwork.
Interviews, walkthroughs, and testing
What are the three key components of Week 1 fieldwork activities?
What is the GD Audit Committee?
Provides oversight, approves the audit plan, and reviews audit results.
Where do you go to see requested documents the BUs have provided?
Request section within Wdesk
M1 Abrams Tanks, Pandur II, 155 MM Artillery
What are the Combat system's major products?
What document outlines the audit’s scope, objectives, and timing and the key audience is the BU?
The Audit Notification Letter (ANL).
Observations, Process Improvements, and Leading Practices
What are the three major finding categories?
What is the global framework GD IA aligns with?
The Institute of Internal Auditors (IIA) Standards.
How does an SMS adds value to the audit process? Providing technical expertise and offering insights on business risks and controls.
Providing technical expertise and offering insights on business risks and controls.
Amy Gilliland
Who is the President of GDIT?
What is purpose of the pre-fieldwork testing
Allows the GD IC team to assess initial risks and refine the audit program before on-site fieldwork begins.
What document is provided by the Audit team to communicate travel expectations?
Travel Logistics One-Pager
What are the four key priorities of the GD IC Audit Planning Framework?
Compliance with established control frameworks, adequacy of control frameworks, process improvements, and leading practice recommendations.
What is communicate the concern to the audit team for further evaluation and discussion?
This is the appropriate action an SMS should take upon identifying a potential control weakness during fieldwork.
What year did the first flight of the Gulfstream 1 take place?
1958