Audit Planning Process
What platform is used to perform audits?
What is Workiva? (Also known as Wdesk)
What is the primary objective of fieldwork in an audit?
Gather evidence, assess controls, and validate risks.
This group is informed throughout the year when changes to the audit plan occur.
What is the Audit Committee?
An SMS should be able to dive deep into this diagram showing how the business unit is structured and who reports to whom.
What is the org chart?
This company built the first U.S. Navy submarine - bonus 50 points if you name the decade it was either* launched or later acquired.
What is Electric Boat?
Bonus answer: 1890s (launched in 1897); acquired April 11, 1900 (1900s).
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.
What is the difference between an SMS and a Guest Auditor (GA)?
An SMS participates in multiple audits per year, while a GA supports a single audit as needed
Unit known for shipbuilding, includes Bath Iron Works and NASSCO among its operations.
What is Marine Systems
First audit deliverable to the BU
What is the Timing Memo?
Timeline of meetings and can be found where?
What is the Interview Request List (IRL)?
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).
What are the three major finding categories?
Observations, Process Improvements, and Leading Practices
This is the person (or group) whose approval you need before an Audit Program can be released to anyone.
Who is the Staff VP GD IC ?
How does an SMS adds value to the audit process?
Providing technical expertise and offering insights on business risks and controls.
BU with the only full-service shipyard on the West Coast of the United States
What is NASSCO?
What captures any potential discussion points during planning?
What is the Discussion Point Tracker?
What document is provided by the Audit team to communicate travel expectations?
Travel Logistics One-Pager
To comply with IIA Standards, internal audit must complete this once every five years
What is an External Quality Assessment?
This is the right next step for an SMS after spotting a potential control weakness during fieldwork.
What is communicating the concern to the audit team for further evaluation and discussion?
What year did the first flight of the Gulfstream 1 take place?
1958