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I I4. Specific Audit Approach (Continued) Today's marketplace provides firms, large and I Sample Sizes and Statistical Samplings small, national and local, with sophisticated computer-aided audit tools necessary to Our professionals will utilize sampling perform data analysis and report generation. methodologies designed to ensure effective Software products, such as Audit Command I audit procedures are applied in the most Language (ACL) for Windows, are used to efficient manner. analyze data and produce reports. I Sample Sizes Staff members are trained on new software and are skilled in a wide variety of computerized For tests of controls, sample size will be based applications. Additionally, all staff have their 1 on the planned or supported assessed level of own laptops equipped with pertinent audit- control risk and the number of planned or related software. We will utilize Prosystem FX actual deviations expected. For transactions for Windows, ACL for Windows, database test work, sample size will be a function of programs and spreadsheet applications for 1 population, materiality, and risk factors auditing purposes. Sampling Techniques A client's IS environment influences the nature, I timing, and extent of planned auditing We will utilize representative audit sampling procedures. An important component of our procedures with respect to tests of transactions audit is the review of IS general controls. We and tests of controls, where a sample of understand that the effectiveness of many I documentation is to be tested as the principal client control procedures is dependent on evidence of a control. During tests of controls, reliable computer-generated data which result the tests will generally consist of a combination from proper IS general controls. Therefore, we of corroborative inquiry and either observation, will analyze these controls to determine the I examination of documents or re-performance. adequacy of the internal control environment. We will use attribute sampling to test documentary evidence as documentation will Our IS expertise, combined with extensive I be the prime corroborative evidence of identified controls. auditing and consulting experience means that we understand the technical intricacies of complex information systems in the context of Statistical and Non-statistical Sampling real-world application. ITests of transactions and tests of controls can Utilizing this expertise we will be able to: be performed using either statistically or non- I statistically based techniques. Statistical : evaluate IS general controls within the approaches will be based on our calculation of computer environment; risk factors. If a non-statistical approach is document critical transaction processing deemed appropriate, we will design our systems 4 procedures to obtain levels of assurance that • identify key processes and controls within we judge to be equivalent to those required these transaction processing systems; when using statistically based techniques. • evaluate the effectiveness of identified controls; Use of EDP Software for Audits • advise the audit team on results of the evaluation and effect on planned audit We are actively committed to using computer- procedures I based audit techniques. Our knowledge of • information develop and execute computer- information systems (IS) and the use of Data assisted audit techniques using computer Analysis Software yields significant savings in audit software packages; the time required to complete an audit. • assess the internal controls I PROPOSAL GL &cur- COMPANY, PLLC RFP # 15-12-01 ' . mum.,v.au............. Page 13