Audit risk universe

SAMPLE 1

No Major Reporting Category Process or Entity Major Processes and Local specific research
Groupings Common Administrative entities and minor
Services administrative
processes
Accounts Department
Billings & Billings & Receivables
Receivables
Budget/ Planning Monitoring
Planning & Formulation
Cash Management Bank Account
Administration &
Reconciliation
Disbursement Accounts Payables
Cheque requests
Entertainment
Travel
Financial Reporting General Ledger
Sub ledger systems
Tax Accounting
Payroll Payroll processing
Conflict of commitment
Time reporting
Procurement Consulting contracts/
Contract labor
Equipment leases
Purchase Order

Administration Department Human Resource Compensation

Education/ Training
Labor/ Employee
relations
 Recruitment & Staffing

Delivery Department

Engineering & Design

Department

Galvanizing Department

Information Technology Information structure Strategic planning

Department
User authentication Authentication project
& access
Central
Distributed
Telecommunication Data
Voice
System Acquisition/ Acquisition
New development
Development
Records Release of information
Management
Retention
Storage/ Media Handling
Software Application review
Database review
System software review

Operational Cost Control

Department

Packing & Shipping

Department

Production Department
 Purchase Department

Quality Assurance/ Control

Department

Sales & Marketing

Department

Technical Department

SAMPLE 2
No Business Unit Activity group
1 Manufacturing, factory production Raw materials, finished goods, WIPs, orders,
shipments, store-keeping, insurance.
2 Agency network Dealers, distributors, agents.
3 Warehousing Stores, point-of-sale, mailing, billing, receivable
collections, inventory management
4 Service providers Consultants, bankers, insurance, government
intermediaries, regulators, auditors, rating
agencies, advertisers, PR and media.

SAMPLE 3

No Category Risk
1 Operational Physical Assets
Hazards
Information Technology
People
Supply Chain
 Sales Marketing

2 Financial Market
Tax
Liquidity & Credit
Accounting &Reporting
Capital Structure

3 Strategic Governance
Planning & resource allocation
Major initiatives
Mergers, acquisition & divesture
Market Dynamics
Communication & investor relations

4 Compliance Regulatory
Legal
Code of conduct