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    Total Audit Team Hours 6,780: Budgeted Number of Hours Remaining Number of Hours For Other Activities

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    Lester Sardido
    The document outlines the total annual available hours for internal audit staff including internal auditors, assistants, and supervisors. It estimates the number of working days for each role and calculates their net working hours and total available audit hours. It also includes tables showing the risk-based audit planning process and a list of planned audit engagements for the year with allocated hours and timelines.

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    Download as PPTX, PDF, TXT or read online from Scribd

    Total Audit Team Hours 6,780: Budgeted Number of Hours Remaining Number of Hours For Other Activities

    Uploaded by

    Lester Sardido
    55 views6 pages
    The document outlines the total annual available hours for internal audit staff including internal auditors, assistants, and supervisors. It estimates the number of working days for each role and calculates their net working hours and total available audit hours. It also includes tables showing the risk-based audit planning process and a list of planned audit engagements for the year with allocated hours and timelines.

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    PPT(Sir Rullan)

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    The document outlines the total annual available hours for internal audit staff including internal auditors, assistants, and supervisors. It estimates the number of working days for each role and calculates their net working hours and total available audit hours. It also includes tables showing the risk-based audit planning process and a list of planned audit engagements for the year with allocated hours and timelines.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    55 views6 pages

    Total Audit Team Hours 6,780: Budgeted Number of Hours Remaining Number of Hours For Other Activities

    Uploaded by

    Lester Sardido
    The document outlines the total annual available hours for internal audit staff including internal auditors, assistants, and supervisors. It estimates the number of working days for each role and calculates their net working hours and total available audit hours. It also includes tables showing the risk-based audit planning process and a list of planned audit engagements for the year with allocated hours and timelines.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 6

    Total Annual Available Hours Per Full Time

    Equivalent
    Estimated No. of Projected VL, Net No. of Net No. of
    ► Total Audit Team Hours
    No. Position
    Working Days SL, & Absences Working Days Working Hours
    1. Internal Audit 246 20 226 1,695
    ► 6,780 Assistant
    ►
    2. Budgeted Number
    Internal
    Assistant
    Audit of
    246Hours 20 226 1,695

    3. Internal Audit and 246 20 226 1,695


    Compliance
    ► Remaining Number of Hours for Other Activities
    Assistant
    4. Internal Audit 246 20 226 1,695
    Supervisor

    Total 984 80 904 6,780

    Total Audit Team Hours 6,780

    Budgeted Number of Hours

    Remaining Number of Hours for Other Activities

    Page 1 SFC Executive Committee Meeting


    Audit Status Updates
    List of Planned Audit Engagements for the Year
    2021 indicating the budget hours and start date.
    Audit Engagement No. of Hours No. of Mandays Timetable
    a. Loan Folder Audit Regular
    b. Branch Visits 4th Quarter
    c. Review of Policies and Procedures
    Loans Department 1st Quarter
    Purchasing 1st Quarter
    Accounting 2nd Quarter
    Management Incentives 2nd Quarter
    Treasury 3rd Quarter
    d. Furnitures, Fixtures and Equipment 3rd Quarter
    e. AMLA Reporting Regular
    f. Incident Reports As Required
    g. Business Continuity & Disaster Preparedness As Required
    h. Follow-up and Monitoring Activities Regular
    i. Other tasks
    Total Budgeted Hours

    Page 2 SFC Executive Committee Meeting


    Audit Status Updates
    Table A. Overview of Risk-Based Audit Planning
    Process

    Page 3 SFC Executive Committee Meeting


    Audit Status Updates
    Risk Heat Map

    ► The assessment is done using two scales, both from 1


    to 3, the combination of which provides the total risk
    rating from 1 to 9. This step will assist in determining
    the significance of the risk to the organization and is
    mapped to the risk heat map.
     

    Page 4 SFC Executive Committee Meeting


    Audit Status Updates
    At macro-level, the overall performance of the unit audited is
    assessed and rated using this Audit Rating Scale:
     

    The unit activity was generally in accordance with


    the Company’s policies, systems, and
    procedures. Some control deficiencies were
    identified but these did not/are not expected to
    Acceptable (A)
    lead to major risks or adversely impact the unit
    activities contribution to the Company's core
    strategies.

    The unit activity was not always in compliance with


    the Company’s policies, systems, and procedures.
    Various control deficiencies were identified that, if not
    Below Acceptable (BA) promptly corrected, may lead to major risks adversely
    impacting the unit activities contribution to the
    Company's core strategies.

    The unit activity was not in compliance with


    Company’s policies, systems, and procedures. Major
    risks were identified that have adversely impacted, or
    Unsatisfactory (U) are likely to adversely impact the unit activities
    contribution to the Company's core strategies

    Page 5 SFC Executive Committee Meeting


    Audit Status Updates
    Thank you!

    Page 6 SFC Executive Committee Meeting


    Audit Status Updates

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