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Forums Internal Audit 𝐀𝐮𝐝𝐢𝐭 𝐎𝐛𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧 : 𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐯𝐬 𝐐𝐮𝐚𝐧𝐭𝐢𝐭𝐲 Reply To: 𝐀𝐮𝐝𝐢𝐭 𝐎𝐛𝐬𝐞𝐫𝐯𝐚𝐭𝐢𝐨𝐧 : 𝐐𝐮𝐚𝐥𝐢𝐭𝐲 𝐯𝐬 𝐐𝐮𝐚𝐧𝐭𝐢𝐭𝐲

  • Nikhil Chandran

    May 20, 2021 at 2:11 am

    Agree.. This is something which should be highlighted to the new people in internal audit field right from the beginning.

    Pareto based approach should be used while planning for the audit if there is a constraint of resources. 80% of the time should be invested in the critical areas ( identified based on initial risk assessment ) which forms 20% of the scope .