Investment Management Firm Audit Work Program
Key Audit Steps and Reviews for Investment Management Firms
The purpose of this work program is to provide the general steps used to perform an audit at an investment management firm. This document provides work steps to prepare for a visit to the firm and perform reviews and audit testing. Topics include portfolio management, risk management, ethics policy statements and disaster recovery plans.
Project work steps include coordinating plans with endowment office management, arranging the visit dates, scheduling the audit team and the manager's key personnel, generating advance requests for documents from the investment managers, developing any special audit objectives for this manager, making travel arrangements, reviewing and organizing advance materials, touring facilities, etc.