Registration Management Committee
Asking the Right Questions Right
Dale Gordon
Aerojet Rocketdyne
July 16, 2014
Company Confidential
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Registration Management Committee
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
Appearance Matters
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
Be Professional
• APPEARANCE - FORMALITY OF THE AUDIT
• PUNCTUALITY - DO NOT WASTE AUDITEE TIME
• PREPAREDNESS - CRITICAL TO SUCCESS
• FAIRNESS - BE UNDERSTANDING OF ERRORS
• CALM - AUDITOR CAN SET THE TONE
• POLITE AND COURTEOUS - BE POSITIVE
• DIRECT AND CONCISE - DON’T INTERROGATE
• COMMUNICATION - ORAL, WRITTEN, BODY
• OBSERVANT - ATTENTION TO DETAIL
• LISTENING - PAY ATTENTION
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
Know Your Customer
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
Remember Who You are Auditing:
• METHODS
– OPEN ENDED QUESTIONS
– PROBING - TELL ME MORE
– SILENCE - IS GOLDEN
– PARAPHRASING - RESTATEMENT
• CROSS CHECK WITH OTHERS
• SUPPORT WITH DOCUMENTATION / RECORDS
• CLOSE WITH STATED POSITION - OKAY OR NO
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
What’s the Risk?
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RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
WEIGH THE CONSEQUENCES
Risk may go undetected, or even increased by the application of
insufficient, inadequate, or incapable resources including:
•
Designs, Personnel, Time
•
Equipment / tools
•
Processes or Materials, Plans, instructions
•
Inspections / tests
•
Workspace and environment
•
Others ?
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
ALLOW FOR MULTIPLE SOLUTIONS
Risk may be controlled, reduced or eliminated by use
of:
•
•
Root Cause Analysis, Corrective and/or Preventive Action
Design enhancement / redundancy
•
Improved processes capability
•
Fool-proofing / mistake-proofing
•
Increased / improved detection methods
•
Protective margins / buffers
•
Back-up / contingency plans
•
Advancing the “state of the art”
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
Prior Enterprise Business Model
MARKETING
SELL IT!
Customer &
Regulatory
Requirements
ENGINEERING
Help Sell it &
DESIGN IT!
MANUFACTURING
& PROCUREMENT
Customer
Support
Pack & Ship
& Replace
MAKE IT
BUY IT
QUALITY
MAKE SURE IT
LOOKS LIKE THE
PRINT!
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
CONSIDER BUSINESS PROCESSES
Build
Customer
Relationship
Plan the
Business
Create
Customer
Solutions
Resource
the Business
Resolve
Customer
Problems
Generate
Orders
RMC Workshop Long Beach, CA 16 – 17 July 2014
Fulfil
Orders
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Registration Management Committee
JUST THE FACTS
FOCUS ON THE CONTROL SYSTEM
•
•
•
•
•
NO RECOMMENDATIONS
NO SUGGESTIONS
NO BIAS
NO INSPECTING
OVERALL CONCLUSIONS
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
The Report
Management's Responsibility for the Financial Statements
• Management is responsible
for the preparation and fair
presentation of these consolidated financial statements in
accordance with U.S. generally accepted accounting principles; this
includes the design, implementation, and maintenance of internal
control relevant to the preparation and fair presentation of
consolidated financial statements that are free from material
misstatement, whether due to fraud or error.
Auditor's Responsibility
• Our responsibility is to express an opinion
on these
consolidated financial statements based on our audit. We conducted
our audit in accordance with U.S. generally accepted auditing
standards. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the
consolidated financial statements are free from material
misstatement.
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
The Report
• An audit involves performing procedures to obtain audit evidence
about the amounts and disclosures in the consolidated financial
statements. The procedures selected depend on the auditors'
judgment, including the assessment of the risks of material
misstatement of the consolidated financial statements, whether due
to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the entity's preparation and
fair presentation of the consolidated financial statements in order to
design audit procedures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on the
effectiveness of the entity's internal control. Accordingly, we
express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness
of significant accounting estimates made by management, as well as
evaluating the overall presentation of the consolidated financial
statements.
• We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our audit opinion.
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
The Report Conclusion
Opinion
•In our opinion, the financial statements referred
to above present fairly, in all material respects, the financial
position of ABC Company, Inc. as of December 31, 20XX, and
the results of its operations and its cash flows for the year
then ended in accordance with U.S. generally accepted
accounting principles.
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
Aerospace Markets
RMC Workshop Long Beach, CA 16 – 17 July 2014
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Registration Management Committee
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Registration Management Committee
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