Audit Planning Process
Hold a BU pre-planning discussion
What is the first step in the audit planning process?
Gather evidence, assess controls, and validate risks.
What is the primary objective of fieldwork in an audit?
Provide risk-based assurance and advice to management.
What is the primary mission of GD Internal Audit (IA)?
To provide technical expertise, participate in fieldwork, and act as a trusted advisor.
What is the role of a Subject Matter Specialist (SMS) in an audit?
BU with the only full-service shipyard on the West Coast of the United States
What is NASSCO?
To confirm the scope, key risks, and focus areas for the audit.
What is the purpose of the scoping call in audit planning?
Week 1.
Which week is the SMS primarily on-site for fieldwork?
1st – Business Unit Operations, 2nd – Risk Management & Compliance, 3rd – Internal Audit.
What are the three lines of defense Internal Audit operates within?
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
18 weeks before fieldwork.
How many weeks before fieldwork does the planning phase begin?
Interviews, walkthroughs, and testing
What are the three key components of Week 1 fieldwork activities?
Provides oversight, approves the audit plan, and reviews audit results.
What is the GD Audit Committee?
To provide business context, clarify technical points, and ensure findings are relevant to the BU.
What is the responsibility of an SMS during status meetings?
M1 Abrams Tanks, Pandur II, 155 MM Artillery
What are the Combat system's major products?
The Audit Notification Letter (ANL).
What document outlines the audit’s scope, objectives, and timing?
Observations, Process Improvements, and Leading Practices
What are the three major finding categories?
The Institute of Internal Auditors (IIA) Standards.
What is the global framework GD IA aligns with?
Providing technical expertise and offering insights on business risks and controls.
How does an SMS adds value to the audit process?
Amy Gilliland
Who is the President of GDIT?
Allows the GD IC team to assess initial risks and refine the audit program before on-site fieldwork begins.
What is pre-fieldwork testing
Summarize key findings, confirm observations, and align with BU management on next steps before finalizing the status report.
What is the main purpose of the Week 2 Fieldwork Exit Meeting?
Compliance with established control frameworks, adequacy of control frameworks, process improvements, and leading practice recommendations.
What are the four key priorities of the GD IC Audit Planning Framework?
This is the appropriate action an SMS should take upon identifying a potential control weakness during fieldwork.
What is communicate the concern to the audit team for further evaluation and discussion?
Formed through the acquisition of Computing Devices Canada in 1997 and is known for delivering the Bowman communications system
What is GDLS UK