Request B7

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Audit

SAS is a business analysis and data processing services company based in the United States of America. It is aimed at expanding directing its direct sales team in China and increasing its investments in Chinese market. The company helps organizations and markets make sense of their data, by transforming that data into insights that give a new perspective in a business, through identifying that what is working, fix that what is not working, and also help in discovering brand new opportunities (Chang, 2013).

In order to accomplish all these SAS needs to carry out strategic performance audit. This is a tool used by organizations, governments, and companies in order to have a clear view of their functions regarding productivity, engagement, trust, team-work, communication, strengths-use, and performance. While carrying out the audit, audit data collected is directly proportional to the cost of analysis. This cost of analysis is inclusive of time required to review and merge audit records, time needed to archive and safely sore records. SAS can help reduce amount of data collected, while on the same time providing Chinese companies with enough coverage their security goals (Basu, 2006).

External environmental audits shall be used to check that Chinese company’s environmental management systems meet the required standards that they have set. This could be, for example, ISO-14001 certification. The advantage of these is that I builds confidence company’s environmental management systems requirements, confirms that the companies have adopted the correct approach to their environment management systems, among others.

Internal environment audit can also be used to measure appropriate and effective governance. It shall provide independent and professional assurance information directed on improving risk management, effectiveness and the overall efficiency of the operation of these Chinese companies.

The audit on strengths will help the companies check on their roots and also evaluate on their return on investment in order to improve their results. It is also used to assess changes in a particular time, and also overall changes and effectiveness of the company’s performances (Kumar, 2006). Problems audit will be carried out to determine why other previous audits on Chinese companies did not succeed. There are problems and issues that are encountered by auditors, and must be individually addressed (Kumar, 2006).

Analysis auditing includes both offensive and defensive audits. In offensive audits, SAS shall help Chinese companies analyze the potential risks that their audit poses. In defensive auditing, it shall help the companies in analyzing the results of their audit (Kumar, 2006).

In quality auditing, SAS shall look for reasons as to why overpayment and challenges facing the Chinese companies. This comprises of calculations, methodologies and statistical applications of data, in order to provide analysis on post audit statistics, and pre audit risk assessment, thus enabling the companies to be in a position to prepare and defend themselves against audits (Kumar, 2006).

Evaluation auditing shall help companies’ managers define the companies anticipated result, thus focusing their attention on achieving those results, objectively and regularly measure their performance. Therefore, evaluation auditing helps company managers in improving policies as well as programing design and delivering it (Kumar, 2006).

References

Chang, L. (2013) SAS Boosts Footprint in China amid Bid Data Hopes. China Daily.

[http://www.chinadaily.com.cn/bizchina/2013-07/19/content_16798049.htm]

Kumar, R. & Sharma, V. (2006). Auditing: Principles and Practice. PHI Learning Pvt. Ltd. Mumbai

Basu (2006). Auditing: Principles and Techniques. Pearson Education. India.