Customer Reviews

The Internal Auditing Pocket Guide

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This book is an introduction to internal auditing. The content is relatively straightforward and generic, providing reasons for internal auditing, and a four step process for performing this function.

Note - this book is high-level and does not address specific auditing requirements such as those associated with Sarbanes-Oxley, or even the mechanics of financial controls. It's all about determining either conformance or compliance (or both).

The four-step process encompasses:
(1) Identify plans (what it is that is supposed to be done)
(2) Observe (are people following the plan)
(3) Evaluate collected facts (evidence associated with the plan and observation steps)
(4) Report the results (findings, gap analysis, etc.)

Chapters 1 and 2 are basic - welcome to auditing, and getting the assignment. The next four chapters provide the structure, approach and principles needed to perform the audit - purpose and scope, preparing for the audit, requirements and planning, and audit strategies. The final five chapters cover conducting the actual audit - initiation, data collection, process techniques/process auditing, analyzing results, and reporting and follow-up.

In addition to the high-level coverage of internal auditing, this book augments this information with a glossary, seven appendices providing example plans, checklists and other useful information to help understand the work product and the auditing process itself. There is an excellent summary at the end of the appendices that give basic auditing principles.

This small book is a good introduction to internal auditing and will give the fundamentals in a clear, easy-to-follow manner.

Although this little book has some helpful reference material, I was hugely disappointed. It is not worth the $20 that I paid for it.