You are performing an audit over Intuit's Corporate Credit Card (PCard) Process. PCard transactions are systematically...

 

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You are performing an audit over Intuit's Corporate Credit Card (PCard) Process. PCard transactions are systematically posted to Intuit's expense reimbursement system, called Concur. Employees are required to reconcile PCard charges at least monthly. Employees are required to comply with Intuit's Global Travel and PCard Policy when utilizing their PCard. Given the case study details above, please utilize the attached template to document the following: How would you approach this audit? What do you think are the top three risks (financial and/or operational) and why? What controls would you expect to be in place to mitigate those risks? How would you approach testing the controls you outlined? Feel free to rely on publicly available information and make assumptions in order to complete the case study. Please document your assumptions and be ready to share your approach and thought process in the presentation. Be prepared to discuss the risk, controls, and test approach, which you identified. Business/Process Objectives What is the ultimate goal, e.g. Obtaining the best total cost of items purchased. Risks Identified Identify risks that would prevent the group from achieving the objectives in the prior column, e.g. Contracts do not go out to bid resulting in higher cost than expected. Expected Control Description Document the controls you would expect to be in place to mitigate the risk Audit Testing Steps How would you approach testing each of the controls you outlined You are performing an audit over Intuit's Corporate Credit Card (PCard) Process. PCard transactions are systematically posted to Intuit's expense reimbursement system, called Concur. Employees are required to reconcile PCard charges at least monthly. Employees are required to comply with Intuit's Global Travel and PCard Policy when utilizing their PCard. Given the case study details above, please utilize the attached template to document the following: How would you approach this audit? What do you think are the top three risks (financial and/or operational) and why? What controls would you expect to be in place to mitigate those risks? How would you approach testing the controls you outlined? Feel free to rely on publicly available information and make assumptions in order to complete the case study. Please document your assumptions and be ready to share your approach and thought process in the presentation. Be prepared to discuss the risk, controls, and test approach, which you identified. Business/Process Objectives What is the ultimate goal, e.g. Obtaining the best total cost of items purchased. Risks Identified Identify risks that would prevent the group from achieving the objectives in the prior column, e.g. Contracts do not go out to bid resulting in higher cost than expected. Expected Control Description Document the controls you would expect to be in place to mitigate the risk Audit Testing Steps How would you approach testing each of the controls you outlined