GAM Road Map

 

GAM roadmap Planning and risk identification

Strategy and risk assessment Identify significant classes of transactions and related applications

Consider client

Prepare summary of

acceptance/ continuance results   m   a   e    t   e    h    t    h   s    i    l    b   a    t   s   e    d   n   a  ,   e   p   o   c   s    t    i    d   u   a   e   n    i   m   r   e    t   e    d  ,   s    t   n   e   m   e   r    i   u   q   e   r   e    i   c   v   r   e   s    d   n   a    t   s   r   e    d   n    U

Understand flows of transactions, Understand WCGWs and and controls evaluate the FSCP

Understand the business

Execute tests of controls

audit differenc differences es

Execute tests of  journal entries and and other mandatory fraud procedures

Perform final overall financial statement review

Perform walkthroughs Understand IT environment complexity and determine IT professional involvement

Assess internal control at the entity level Identify fraud risks and determine responses

    m   a   e    t   n   o    t   i   n   s   e   s   m  u   e   c   s   g   i   a   d   g   n    E

Determine PM, TE and SAD nominal amount

Identify significant accounts and disclosures and relevant assertions

Conclusion and reporting

Execution

   t   n   e   v   e   g   n    i   n   n   a    l   p     m   a   e    T

Understand ITGCs Select controls to test

Design and execute tests of ITGCs Evaluate ITGCs

   t   n   e   v   e     m    i   r   e    t   n    i      t   s   o    P

Update tests of controls

Update tests of ITGCs

Make combined risk assessments Perform substantive Design tests of controls Design tests of journal entries and other mandatory fraud procedures Design substantive audit procedures

Design general audit procedures

Prepare audit strategie strategies s memorandum

audit procedures (lead sheets and audit plans)

Perform general audit procedures

  s    t   n   e   m   s   e   s   s   a    k   s    i   r    d   e   n    i    b   m   o   c   s   s   e   s   s   a   e    R

   t   n   e   m   e   g   a   g   n   e   e    h    t   p   u     p   a   r

Prepare summary review memorandum

Complete review and approval summary

   W

Prepare and deliver client communications

Complete documentation and archive engagement