Page 7 - IA Manual Mobile Version

7. Task Allocation to Members

Based on the above discussions the tasks are allocated by the Audit Manager or the Senior
Team Member (person leading the audit). As and when there are additional tasks identified AM
base on reviews with the manager, partner or based on client discussion; the same needs to STM
be updated in papilio tasks list simultaneously.

8. Status Updation to Engagement Partner

a. Audit Managers are responsible for completion of services on time with highest quality of
field work and deliverables. To ensure timely closure, managers are responsible to update
the status to Engagement Partner to take the inputs and escalations in case of delay in
receipt of information, if any. AM
b. Audit status updation would be done by Audit Managers to Engagement Partner on
periodic basis. Audit Managers will take necessary actions as per Engagement Partner's
inputs to provide the audits effectively and efficiently.
c. On need basis, Engagement Partner will fix review meeting with Audit Manager or entire
team members or client personnel to complete the audit as per the time lines agreed. EP

d. Depending on the criticality and impact assessment of the observations or instance of fraud,
Engagement Partner and Audit Manager, will escalate the observations with management
/ TCWG without waiting for submission of final reports. This will assist the Management / EP
TCWG to frame immediate action plans to mitigate the risk of financial or Operational loss. AM
However, the same would be included in the Internal Audit Report and management
comments would be obtained.

9. Follow up for Required Data

a. Collection of information from the client TM
b. Understanding of objective of information, reference of previous services for common
documents STM

c. Guidance/directions while communications/mails to the client