The Handbook will help auditors evaluate, measure and check internal management and financial procedures and systems to increase efficiency and prevent fraud. Reflecting the variety of business situations that auditors face, it encourages them to develop creative approaches for dealing with the problems encountered during the operational audit review. This new edition is fully updated to take account of developments in internal control and COSO, corporate governance under Sarbanes-Oxley, and in audit processes particular to financial institutions in light of the credit crunch. It contains extensive coverage of auditing the board, and auditing operational and reputational risk. The Handbook contains new and updated case studies and checklists and covers a wide range of functional areas in business including facilities management, call centres, shared service centres, finance and accounting, purchasing, operations and production, marketing and sales, distribution, personnel and management technology, security, environmental responsibility, subsidiaries and remote operating units. The book is a professional companion for those who design self-assessment programmes of business processes, and a guide for internal auditors and consultants who conduct value-for-money audits on behalf of others.