Each edition of Audit Tips highlights good practices and provides practical advice for performance auditors on a selected theme.
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Fraud and Waste Hotlines provide citizens with a confidential and anonymous means to report suspicious activity and allow agencies to quickly identify and investigate potential fraud.
In this Audit Tips, we identify some ways to ensure these hotlines are effective.
Professional standards dictate that auditors must be objective. However, they are also human and as such are prone to cognitive biases, i.e., systematic errors in judgment. Auditors are vulnerable to a host of such biases because performance auditing involves exercising judgment and making decisions throughout the audit process (in planning, evidence collection, data analysis, managing relationships, reporting, and more).
In this Audit Tips, we identify four cognitive biases that auditors should be especially wary of.
The British Columbia Mine Audits Unit has been recently created. It plays a key role in the continuous improvement of mining regulation in the province. The team evaluates the Ministry’s oversight of the mining sector and makes public recommendations to government.
In this Audit Tips, we identify some key learnings that may be useful to others when getting a new audit function off the ground.
Public sector auditors are used to building their audit programs on the changing realities of their organization. Risks are used to identify audit topics that are more likely to require assurance and advice on corrective measures which could be used by management, oversight bodies, and stakeholders.
In this Audit Tips, we provide risks to consider when conducting audits in the post-COVID-19 environment
Sampling is the selection of a subset of the totality of elements that could be analyzed, called the population. It can be generalizable, i.e., drawn randomly in order to efficiently extrapolate the results to the population, or purposeful, i.e., based on a rational argument linked to the audit objective, in order to provide insights on the nature or cause of a problem. The following success factors contribute to optimize your sampling approach and minimize your risks that the sampling procedures performed will not detect a significant deviation.
In this Audit Tips, we provide 4 tips to optimize your sampling approach and minimize your risks that the sampling procedures performed will not detect a significant deviation.
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