Planning the Internal Audit Calendar with FUCOM, MABAC and Integer Programming Methods

Abstract

Today, many corporate companies have an internal audit department. Effective planning of internal audit activities and compliance with this plan is a difficult process in businesses that have too many departments or too many group companies, factories, regional directorates, or branches. While planning the internal audit, a plan should be created by evaluating criteria such as the requests of the top management, the risks of the business, the audit costs, the number of auditors. In this study, criteria have been determined for the audits to be carried out by the internal auditors working in a factory to the regional directorates and other departments of the enterprise and the determined criteria were weighted with the FUCOM (Full Consistency Method) method, one of the MultiCriteria Decision Making (MCDM) methods. Then, using the MABAC (Multi-Attributive Border Approximation Area Comparison) method, the audits that should be planned were ranked according to their risk levels, and the duration of the audits was determined. After the audit periods were determined, an audit calendar was created with the help of integer programming method. It is expected that the audit schedule planning created by using these quantitative methods will be more effective and efficient than the manually prepared audit schedule planning, and the compliance with the audit calendar will be higher.