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APEX (Audit Planning and EXecution) is a highly customizable software product for Audit Management. APEX is a COTS- Commercial Off-the-shelf software. APEX can be used for performing Internal Audits and External Audits.
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APEX Audit System
http://www.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
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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APEX Overview
Planning
Execution
MonitoringWork Papers
Forms & Workflows
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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APEX Overview: Planning• Audit Staff Management• Auditee (Audit Entity) Management• Risk Assessment• Prioritization• Plan Generation
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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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
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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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
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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APEX Overview: Working Papers• Storage for Work Papers for every Audit• Collaborative Editing of Work Papers• Auditee Archive• Audit Documents
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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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
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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SCHEDULING & ASSOCIATED ISSUES
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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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
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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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.
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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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
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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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
PHONE: +91-98315 92533
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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.
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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Full CycleAll auditees must be covered for audits, based
on prioritization
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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Skill MatchingMembers of the Audit organization may have
different skill sets which may have to be matched to the tasks.
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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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
PHONE: +91-98315 92533
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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.
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533
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THANK YOU!VISIT http://www.apexauditsystem.com for more details..
HTTP://WWW.APEXAUDITSYSTEM.COMPHONE: +91-98315 92533