1030 - 1100 (Chappo) Audit Discussion - Industry Day Jun 2021 v2.pptx
Posted: June 8, 2021
• Type: .pptx
• Size: 4.79MB
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Summary
This presentation is titled "Audit Discussion - Industry Day Jun 2021" and provides an update on the financial audit journey for the Distribution Financial Audit. The agenda includes topics such as the scope of DLA inventory, risk management, compliance processes, and supplier responsibilities. It outlines the audit history from FY16 to FY25, detailing audit opinions and results. The presentation emphasizes repeatable processes, risk identification, effective internal controls, and continuous improvement efforts. It also covers key elements of audits such as existence, completeness, and rights testing, aiming to achieve a clean opinion on DLA distribution records. Additionally, it discusses the importance of knowledge transfer, onboarding new hires, and the impact of dual systems environment on testing and risk assessment.
Furthermore, the document delves into specific audit elements like inventory scope by owner and dollar value, with the top 10 sites listed based on value. It highlights the fraud risk management strategy within DLA, emphasizing assessment, design and implementation, evaluation and adaptation, and commitment to combat fraud effectively. The compliance program within DLA Distribution mandates an independent approach for detecting and correcting process deviations to ensure conformance with required standards for passing financial audits. The compliance and assertion program workload design is explained along with supplier responsibilities in ensuring compliance with contract terms for material sent to distribution centers.
The presentation concludes with a Q&A session for further clarification or inquiries.
Furthermore, the document delves into specific audit elements like inventory scope by owner and dollar value, with the top 10 sites listed based on value. It highlights the fraud risk management strategy within DLA, emphasizing assessment, design and implementation, evaluation and adaptation, and commitment to combat fraud effectively. The compliance program within DLA Distribution mandates an independent approach for detecting and correcting process deviations to ensure conformance with required standards for passing financial audits. The compliance and assertion program workload design is explained along with supplier responsibilities in ensuring compliance with contract terms for material sent to distribution centers.
The presentation concludes with a Q&A session for further clarification or inquiries.
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