The review approach consists of:
• Perform a walkthrough to update/confirm understanding of the processes
• Identify key risk and key controls that mitigate such risk and perform evaluation of design effectiveness of the controls
• Perform a substantive test of key controls, on a sample basis; Audit sampling shall fall within January - June 2016.
• Update the current status of certain operation of Subsidiaries and Affiliated companies, inactive companies, and companies under liquidation process
• Follow-up status of the open audit issue(s) raised in the latest audit report(s) from internal auditor, external auditor, and/or regulators