In the Field Work Phase (which should have been Field Work/Findings Phase):
We reviewed company documents, calculated financial ratios. We didn’t state our findings from the data we gathered.
We need your assistance in finishing up the above phase AND make recommendations and reporting (see below instructions)
We need to analyze the information and also make recommendations to management based upon what we found out. These are the questions we need to answer…What recommendations do you have concerning corporate governance, segregation of duties, and working with the external auditor? Remember the Three E’s of operational audit (Economy, Efficiency, and Effectiveness) – what would be our recommendation to the management of the company to increase the economy, efficiency, or effectiveness of the functions or areas that we investigated.