Aligning the Audit Scope

Mika: Before we finalize the plan, Thomas, I want to double-check the control areas you mentioned earlier. Could you walk me through the key items you see as high-risk?

Thomas: Certainly. Based on the documents your team shared, revenue recognition and vendor management appear to carry the highest risk. I recommend prioritizing these two areas during the walkthrough.

Mika: I agree those are sensitive processes. For vendor management, do you also intend to review the approval workflow? We recently updated some internal rules.

Thomas: Yes, that’s on my list. But to assess the changes properly, I’ll need access to the revised policy and any related compliance reports. Could you arrange that?

Mika: Of course. I’ll ask my team to prepare the files by this afternoon. Is there anything else you need before your fieldwork starts next week?

Thomas: One more thing. To ensure efficiency, I’d like to meet the local finance manager on day one. It will help clarify the control design and potential gaps.

Mika: That’s a good idea. I’ll coordinate the meeting and block one hour in the morning. He should be able to answer most of your operational questions.

Thomas: Perfect. Once that is set, I’ll update the audit timetable accordingly and send you the latest version for approval.

Mika: Sounds good. Let’s finalize everything by tomorrow so your team can proceed smoothly. Thanks again for being so thorough.

Thomas: My pleasure, Mika. I appreciate your cooperation. I’m confident this preparation will make the audit much more effective.