Capital Projects Audit Work Program

This work program focuses on the capital projects process. It focuses on identifying and prioritizing risks, evaluating internal controls and assessing the maturity of this business process.

Audit objectives include: understand and analyze activity; set objectives and plan; identify and prioritize risks; identify controls and evaluate; test controls; report; monitor and follow-up; and add value. Audit steps include: utilize COSO framework objectives; complete initial planning and scoping; link capital project risks to company objectives, initiatives and history; and rate capital project risks based on significance and likelihood.