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Audit Process Step 1: Planning. The auditor will review prior audits in your area and professional literature. ... Step 2: Notification. ... Step 3: Opening Meeting. ... Step 4: Fieldwork. ... Step 5: Report Drafting. ... Step 6: Management Response. ... Step 7: Closing Meeting. ... Step 8: Final Audit Report Distribution.
Quality Audit Checklist Phases Identify audit objectives. Determine audit scope. Conduct the audit. Report audit findings. Provide corrective action. Check progress of corrective action. Determine if gaps have been addressed. Update status of compliance.
The first stage of any audit procedure is to verify the current intellectual property assets held by the business. This process involves a few different things ? first, assessing the quantity and type of data held about the portfolio.
An audit checklist may be a document or tool that to facilitate an audit programme which contains documented information such as the scope of the audit, evidence collection, audit tests and methods, analysis of the results as well as the conclusion and follow up actions such as corrective and preventive actions.
General IP audits: General-purpose audits draw an overall but comprehensive picture about the company's IP assets. Such audits scrutinise the IP portfolio as a whole to review the businesses' IP management approach, if there is one.
A typical audit is comprised of four stages: planning, fieldwork, reporting, and follow-up.
Preparing for an Audit. Have all requested materials/records ready when requested. ... Step 1: Planning. The auditor will review prior audits in your area and professional literature. ... Step 2: Notification. ... Step 3: Opening Meeting. ... Step 4: Fieldwork. ... Step 5: Report Drafting. ... Step 6: Management Response. ... Step 7: Closing Meeting.
How to conduct an IP Audit Get buy-in from the relevant individuals. ... Create an IP Register for the specific review. Request and gather existing policies, agreements, registers (such as an IP register), information, and documents (such as an IP Strategy Document) that are relevant to an IP audit.
Stages of an Audit The first stage is the planning stage. In this stage, a corporation engages with the auditing firm to establish details, such as the level of engagement, procedures, and objectives. The second stage is the internal controls stage.
Audit Preparation Checklist Financial Documentation. Financial statements. General ledger with all transactions documented (covering fiscal year) ... Internal Control Documentation. Org charts. Personnel manual. ... Other Relevant Information. Major contracts with suppliers and/or customers. Investment activities summary.