After several years of a co-sourced audit arrangement with a consulting firm, your employer has decided to bring the Sarbanes-Oxley program in-house and remove the consultants performing this work. They have nominated your team to address the internal review program for the company going forward. Company details include the following:
Business: Dental Claims Adjudication
Employees: 300
Systems – PeopleSoft Financials,
Wonderbox, Data Warehouse, Workday (HR), multiple financial excel files, custom developed EDI for incoming claims, custom developed fixed asset program, Keurig Coffee maker in cafeteria
Describe how you would approach external auditing firm to gather requirements, use of internal audit and timing.
Map out a high-level schedule to include fieldwork to gathering of management assertions and external signoff.