IT internal audit

Project overview and objectives

A power utilities company required assistance within its internal audit department, specifically for SOX walkthroughs and SAP ITGC testing. Clearsulting was engaged to provide assistance around the preparer, detail reviewer, and general reviewer roles.

The goals of this project were to:

• Support walkthrough and testing procedures for the financial statement audit
• Provide knowledge sharing to improve the audit plan, strategy, and documentation
• Fully integrate with the internal audit department

What we did

Clearsulting integrated with the internal audit team and worked directly with external auditors to perform and review SOX walkthroughs and testing. We provided direct assistance with ITCG walkthroughs across SAP and various other utility applications, including:

• Completing walkthroughs and corresponding workpapers
• Walking through controls at the application, OS, and DB layers where necessary
• Creating process flows for each of the control walkthroughs performed
• Updating the risk and controls matrix

We also assisted with ITCG control testing that involved:

• Completing testing lead sheets and supporting workpapers for key controls
• Completing application control testing lead sheets and supporting workpapers for key application controls
• Providing direct assistance with year-end update procedures

To close things out, we completed year-end update procedures and supporting workpapers for key controls.