The Audit Plan application allows internal audit teams to define which entities out of their entire audit universe they plan to audit in the upcoming year. Internal Audit (IA) can use the results of the audit entity risk assessments and the last/next audit dates to determine which entities should be included in the plan. Once the entities are identified, the Plan Entity application allows audit teams to define the scope of the audit for the particular plan. Then, they can review projected and planned hours and expenses for the overall plan, and make any adjustments necessary before submitting the audit plan for review.
