How to Scope an Audit of Thingamajigs

Posted on May 1, 2011

This week, I was asked for advice on auditing an area that was new to the auditor and had a number of complex operations. While it happened to be of the Investments function, my answer should work for pretty much any business function. It is based on the premise that the objective of the audit is to provide assurance related to the more significant business risks; in other words, this was not an audit of operational efficiency, etc.

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