manufacturing tooling audit program

A mission statement or manufacturing tooling audit program outlining the purpose, objectives, organization, authorities, and responsibilities of the internal auditor, audit staff, audit management, and the audit committee.
A risky manufacturing tooling audit program to describe and analyze the risks inherent in a given line of business.

Auditors should update the manufacturing tooling audit program at least annually, or more frequently if necessary, to reflect changes to internal control or work processes, and to incorporate new lines of business. The level of risk should be one of the most significant factors considered when determining the frequency of audits.
An audit plan detailing internal audit𠏋 budgeting and planning processes. The plan should describe audit goals, schedules, staffing needs, and reporting. The audit plan should cover at least 12 months and should be defined by combining the results of the risk assessment and the resources required to yield the timing and frequency of planned internal audits.

The manufacturing tooling audit program should formally approve the audit plan annually, or review it annually in the case of multi-year audit plans. The internal auditors should report the status of planned versus actual audits, and any changes to the annual audit plan, to the audit committee for its approval on a periodic basis.

An manufacturing tooling audit program that identifies the frequency of audits. Auditors usually determine the frequency by performing a risk assessment, as noted above, of areas to be audited. While staff and time availability may influence the audit cycle, they should not be overriding factors in reducing the frequency of manufacturing tooling audit program for high-risk areas.