A well-structured planning phase sets the foundation for efficient execution. Invest time in planning to minimize rework and ensure all team members understand their responsibilities.

• Define audit scope clearly and document in audit project setup
• Develop comprehensive audit work program with detailed procedures
• Identify all controls to be tested and map to audit objectives
• Estimate effort for each procedure (hours or resource requirements)
• Identify dependencies between procedures
• Assign procedures to team members based on expertise and availability

The audit work program is the master plan for execution. Design it thoughtfully to guide team members and ensure nothing is missed.

• Logical Sequencing: Arrange procedures in a logical order that allows for efficient execution
• Dependencies: Identify procedures that must be completed before others can begin
• Resource Allocation: Assign procedures to available team members with appropriate expertise
• Timeline: Develop a realistic timeline that accounts for resource constraints
• Risk-Based Approach: Prioritize higher-risk procedures for execution early in the audit
• Documentation: Document the work program clearly so team members understand their tasks

Determine which procedures can be executed in parallel and which must be sequential. Parallel execution reduces overall audit duration.

• Identify procedures with no dependencies that can run in parallel
• Consider team member availability and expertise when parallelizing work
• Schedule sequential procedures with clear handoff points
• Build in buffer time for procedures with dependencies
• Document the dependency chain in SmartHubs for team visibility

Clear role definitions prevent confusion and ensure accountability. Document each team member's responsibilities and decision-making authority.

• Audit Lead/Manager: Overall audit supervision, scope/timeline decisions, stakeholder communication
• Senior Auditor: Procedure execution oversight, quality review, junior auditor supervision
• Auditor: Execute assigned procedures, gather evidence, document findings
• Reviewer: Validate findings and evidence quality, approve conclusions
• Subject Matter Experts: Provide domain expertise for specialized procedures

Establish clear communication protocols to ensure information flows effectively and issues are resolved promptly.

• Regular Status Meetings: Weekly or bi-weekly team synchronization meetings
• Escalation Path: Define who to contact for different types of issues (technical, procedural, scope)
• Documentation Location: Ensure all team members know where to find procedures, evidence, and decisions in SmartHubs
• Issue Resolution: Establish process for resolving disagreements or scope questions
• Change Management: Define process for approving changes to scope, timeline, or procedures

Leverage SmartHubs' built-in collaboration features to keep team members coordinated and informed.

• Use procedure comments to document questions, decisions, and clarifications
• Link related procedures and findings to show dependencies and relationships
• Use SmartHubs' notification and assignment features to keep team members aware of tasks
• Document management communications and responses within the audit project
• Use audit trails to track who did what and when
• Leverage SmartHubs' access control to manage information sharing based on roles

Optimize how team members execute procedures to maximize efficiency and quality.

• Clear Instructions: Provide detailed procedure instructions in SmartHubs so auditors understand exactly what to do
• Expected Outputs: Document what evidence should be gathered for each procedure
• Pre-Execution Planning: Auditor should review procedure fully before starting work
• Real-Time Documentation: Document findings and evidence as work is performed, not after
• Contemporaneous Timesheets: Log time as work is performed to ensure accurate resource tracking
• Regular Check-ins: Team members should flag issues or questions promptly rather than waiting until completion

Manage evidence effectively during execution to reduce rework and ensure completeness.

• Upload evidence to SmartHubs as it is gathered, not in bulk at end of audit
• Link evidence to procedures immediately to avoid orphaned files
• Use consistent naming conventions for all uploaded evidence
• Document the relationship between evidence and testing conclusions
• Avoid duplicate evidence—reference related evidence instead of uploading multiple copies

Track issues and escalate them promptly to keep the audit on track. Use SmartHubs to document and track resolution of audit issues.

• Document scope questions or ambiguities in procedure notes
• Track access issues that prevent completion of procedures
• Monitor timeline impacts from unexpected findings or delays
• Escalate issues that require management decision or clarification
• Document resolution and any changes to audit approach

Implement a continuous review process during execution rather than waiting until procedures are complete. Early issue identification allows for timely correction.

• Assign a senior auditor or manager to review procedures as they're completed
• Provide feedback to auditors within 1-2 days of completion for rework if needed
• Review evidence quality and completeness before procedures are marked complete
• Verify procedure conclusions are supported by evidence
• Track required rework in SmartHubs to monitor quality metrics

Establish a structured process for validating findings before including them in reports.

• Require preliminary findings to be documented in SmartHubs with supporting evidence
• Assign findings to reviewer for validation and quality check
• Reviewer confirms finding is significant and properly supported
• Document reviewer comments and required changes in SmartHubs
• Auditor addresses reviewer feedback and updates finding
• Only validated findings should be included in audit reports

Define a clear approval workflow for procedures, findings, and reports. This ensures appropriate oversight and quality control.

• Procedure Approval: Auditor completes → Senior auditor reviews → Lead approves
• Finding Approval: Auditor documents → Reviewer validates → Lead approves for report
• Report Approval: Draft prepared → Manager reviews → Quality review → Director approval
• Document approval dates and approver comments in SmartHubs
• Use SmartHubs' workflow features to route items for approval automatically

Develop realistic timelines that account for audit complexity, team experience, and available resources.

• Estimate effort for each audit procedure based on complexity
• Account for management availability and responsiveness
• Build in time for evidence access issues or missing documentation
• Include buffer time for unexpected findings or scope changes
• Consider vacation, training, and other commitments of team members
• Document timeline assumptions and constraints

Allocate resources efficiently to maximize team productivity and keep the audit on schedule.

• Assign procedures to team members based on expertise and workload
• Pair experienced and junior auditors on complex procedures for knowledge transfer
• Monitor utilization to ensure team members aren't over or under-utilized
• Use SmartHubs' timesheet functionality to track actual time against estimates
• Identify variances and adjust future estimates accordingly

Implement comprehensive timesheet tracking to monitor resource consumption and audit profitability.

• Require team members to log time contemporaneously as work is performed
• Track time by audit procedure for detailed cost analysis
• Compare actual time to estimated time and investigate significant variances
• Use timesheet data to improve future estimates
• Monitor for scope creep or inefficient audit execution
• Use data for billing, profitability analysis, and team performance metrics

Develop standardized procedures, templates, and checklists to reduce effort and ensure consistency across audits.

• Create audit procedure templates for recurring audit activities
• Develop standard finding templates for common issue types
• Build standard report templates with consistent formatting
• Create checklists for recurring procedures or controls
• Document standard audit approach and best practices
• Make templates and standards available in SmartHubs for all team members

Use SmartHubs' features and integrations to automate repetitive tasks and improve efficiency.

• Use SmartHubs' report generation features to automate report creation
• Leverage access controls to automatically limit reviewer access to appropriate findings
• Use workflow automation to route findings and reports for approval
• Consider data extraction and analysis tools to reduce manual testing effort
• Use SmartHubs' integrations for linking to external systems or data sources

Capture and share knowledge to improve efficiency and consistency across your audit function.

• Document lessons learned from each audit in SmartHubs
• Share best practices and common issues with the audit team
• Build a library of common findings and remediation strategies
• Use audit documentation as reference for future similar audits
• Provide training on SmartHubs features and audit best practices

Track key metrics to monitor audit execution and identify improvement opportunities.

• Schedule Performance: % of procedures completed on schedule
• Budget Performance: Actual hours vs. estimated hours by procedure
• Quality Metrics: Number of findings requiring rework, defects identified in review
• Efficiency Metrics: Hours per finding, hours per procedure
• Resource Utilization: Team member utilization rates, capacity planning
• Finding Trends: Changes in finding volume and severity over time

Conduct post-audit reviews to capture lessons learned and drive continuous improvement.

• Meet with team to discuss what went well and what could be improved
• Compare actual timeline and budget to estimates
• Identify scope changes and their impact on schedule/budget
• Document lessons learned in SmartHubs for future reference
• Update procedure templates or processes based on improvements identified
• Share findings with broader audit team to improve future audits