The Audit Universe is the list of every area of the business that can be audited, such as a department, process or supplier. Each area is an audit entity. Recording entities in one place lets you see how risky each area is, how long it takes to audit, and which audits and working papers have covered it.

Note: Applies to: auditors and audit managers. To add an entity, see Creating an Audit Entity.

How the Audit Universe Fits Together #

• Audit entities live in the Audit Universe. Each has a scope, owners, estimated auditing days and a risk score.
• Audit reports in the Audit Tracker are raised against an entity, and audit issues sit inside those reports.
• Working papers are linked to an entity. The entity’s estimated auditing days are used to work out a working paper’s expected end date.
• Risks from the risk register can be linked to an entity to show what could go wrong in that area.

Opening the Audit Universe #

1. In the left menu, select Audit Universe.

Reading the Audit Entities List #

Each row is one audit entity. The columns show:

• Entity Name and the Latest Audit Rating, the rating from its most recent audit.
• The Divisions, Scope and Owners of the entity.
• Estimated Auditing Days, the time an audit of this area is expected to take.
• The Inherent Score and Residual Score, coloured using the entity’s score set, so the riskiest areas stand out.
• The Colour and Sort Order used to display the entity.

Tip: Use the filter icon at the top right of the list to narrow it down, for example to one division.

Inside an Audit Entity #

Click an entity to open it. Its tabs are:

• Overview: the entity’s details and linked risks at a glance.
• Edit Audit entity: change the name, divisions, score set, sources, estimated days, scope and owners.
• Attachments: supporting documents.
• Risk Scoring: the inherent, residual and target scores.
• Linked Risks: risks from the risk register that relate to the entity.
• Audit Connections: the audit reports and working papers for the entity.

Audit Connections #

The Audit Connections tab shows the audit history of the entity. Linked Audit Reports lists the audit reports raised against it, with their audit date. Linked Working Papers lists its working papers, with their rating and start and end dates.

Tip: An administrator can change the scope options under Audit Universe > Scope in the left menu.

Related Articles #

• Creating an Audit Entity
• Creating an Audit Issue Report
• Creating a Working Paper