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APEX Audit System

http://www.apexauditsystem.com

contact@apexauditsystem.com

HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533

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APEX BackgroundAPEX is developed by Saltlake Infosolutions

Pvt. Ltd. (SIPL), an ISO 9001:2008 certified Software Development Organization based in India

APEX is developed by a team that includes, in addition to technical staff, domain experts experienced in Audit including Bank Auditors, Government Auditors and Statutory Auditors.

HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533

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APEX Overview• Customizable Product• LAN Based, with a Desktop Component

• Audit Management System• Includes Risk Management Features

• Electronic Workpapers with Audit Programs• Desktop Component Integrates with MS

Office

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APEX Overview

Planning

Execution

MonitoringWork Papers

Forms & Workflows

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APEX Overview: Planning• Audit Staff Management• Auditee (Audit Entity) Management• Risk Assessment• Prioritization• Plan Generation

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APEX Overview: Audit Execution• Generation of Work Orders• Updating of Audit Status• Audit Work Breakdown (Audit Programs)• Audit Findings• Track Management Responses

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APEX Overview: Monitoring• View Audit Status• View Staff History (Audits completed in given

time frame)• View Complete Audit History• View Audit Entity-wise History• Audit Report and Follow up information

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APEX Overview: Working Papers• Storage for Work Papers for every Audit• Collaborative Editing of Work Papers• Auditee Archive• Audit Documents

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APEX Overview: Forms & Workflows

Custom Development

Digitization of Standard forms used in Audit Process

Implementation of Form based Workflow Integration of Forms with Database for Easy

Retrieval Digital Signatures in Forms for authentication

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Screenshots

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Screenshots

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Screenshots

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SCHEDULING & ASSOCIATED ISSUES

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Background• Audit Scheduling was first implemented by

SIPL (Saltlake Infosolutions Pvt. Ltd.) at State Audit Institution, Govt. of Oman in the Audit Planning System Software

• Scheduling requires custom development, taking into account parameters specific to end-users

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Team Based• Audits are normally team based, with the

team size depending upon the size of the task.

• An individual auditor is also a team, of size 1.

• Different audits conducted by the same organization may require different team sizes.

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Multi-level• An Audit Team contains of Team members of

varying level of seniority• The team composition is based upon

directive of the Audit Manual

• e.g. – A team must include a Senior Auditor and the number of other team members depend on the size/classification of the branch

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DynamicAn Audit Schedule is often dynamic, though we

would wish for it to be static and unchanging!

Reasons why it is hard to have a static schedule:

• Availability of team (unexpected leave of a team member)

• Availability of Auditee • Travel, natural causes etc..• Other, higher priority work or reassigned to

another auditHTTP://WWW.APEXAUDITSYSTEM.COM

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Prioritized• Individual audits vary in priority (actually

Auditee Priority)• High risk Auditees (Audit Entities, e.g.

Branch of a Bank) are higher priority for the Audit Team

• Auditees high in Priority are audited more frequently (number of audits) and intensively (team size and duration of audit) than lower priority auditees.

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Full CycleAll auditees must be covered for audits, based

on prioritization

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Skill MatchingMembers of the Audit organization may have

different skill sets which may have to be matched to the tasks.

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Problems with Audit SchedulingThe characteristics mentioned above give rise

to a number of problems while creating a schedule for audits:

1. Change in Audit Schedule causes ‘Jitter’

2. Gaps between Audits because of staff availability

3. Low utilization of team because of team structure (number of members at various positions)

4. Mismatched task allocations because of availability HTTP://WWW.APEXAUDITSYSTEM.COM

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How to Approach Audit Scheduling

Study the Audit Organization or Department

Understand• Prioritization• Tasks• Team Size and Composition• Skill Sets

Customize the Audit Scheduling Program as per the results of the study. Ensure that the staff utilization and ‘jitter’ are at acceptable levels.

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THANK YOU!VISIT http://www.apexauditsystem.com for more details..

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