Trust Examiner School - September 2023

Internal Use Only

Factors Evaluated

Independence

Quality

Scope

Frequency

Staff experience & competence

Volume and/or severity of exceptions

27

Internal Use Only

Audit Program

Aspects/Features of an effective audit program: • Written policy • Audit Committee Charter • Audit risk assessment • Written audit program approved by Audit Committee and/or Board • The findings of the audit, including actions taken as a result of the audit, should be recorded in Audit Committee and/or Board minutes

28