ABSTRACT
Testing is one of the most common activities internal auditors engage in and is often considered one of the main activities of the Fieldwork phase of internal audits. There are many elements involved in Fieldwork testing: test planning, test performance/execution, analysis, and summary of results, formulating a conclusion, and communicating the results of the testing. Test of performance involves testing transactions to determine the operating effectiveness of a control. The test of performance of the controls includes a mix of inquiry of appropriate personnel, observation of operations, inspection of documents, and re-performance of the control. Testing is one of the most important tasks internal auditors perform, because it consists of verifying that the structures and controls are in place and working effectively. Internal auditors often check the mathematical accuracy of transactions, their timely posting, that activities are appropriate, and that configurations are in place to protect people and assets.
