Manufacturing Audits

Could he tell me how they would go about checking these areas: sales, inventory and A / R in a manufacturing company like Seagate. I'm going for a job interview tomorrow and will pass a test on this. The audit made for level 11 / 2 years past, but in the financial sector. Please help! I really want this job.

Yeah, I was director of the audit of a co Oper MFG. few years ago. One of the most enjoyable and interesting than I ever had!

Start your conversation with: the scope of the audit, what, when, how, etc.

But the real key to success here: Then to interview key management personnel. In these interviews, a number of pertinent questions, you want to know what controls have been established and implemented to provide assurance of an adequate level of internal control, safeguarding and respect of key policies / proceedings

Some examples of controls are: is there a good set of written policies and procedures, a system of checks and balances, is there a system for effective communication and backward, and responsibilities were clearly defined and understood by key people, is there a strong accountability organizatoin / delegation of tasks, etc.

Then, verification, you need to do some tests of actual transactions to determine 1) whether the controls they've talked to are actually in place, and 2) they are actually followed, namely what is the degree or the level of compliance. It is best thought of as a kind of verification procedure.

If test results are good, do not go further. If the results are bad, develop and go further to see if there was a real gap somewhere or sample just an isolated case.

Hope this helps and good luck, Bill (Mule)

ps Sady:
I'm curious to know how your interview went??
This information is not what you were looking for??

Ps .. Mule The interview went well. But I will go for a personal interview on Friday. It is very technical. Could you help me?
Sady
@ Yahoo.com sady.asia Flag

The additional tests you need to complete the inventory is to develop a sampling plan and actual trial accounts completely different inventory numbers.
If you randomly choose XA-5643 part number and the computer says they are supposed to have 24 in stock - you'll have to check what is true.
It becomes more complicated when you say they saw 25,000 in stock. This would be verified by measuring the weight.
This method can be used for all the stocks that comprise the raw materials, Work in Progress (WIP) and finished products.
If the finished products are off-site, you may have to check elsewhere - according to company policy.