Engagement Memo— Inventory Controls and Management
We are initiating a review of Amtrak’s (the company) inventory controls and management. Our objective will be to evaluate company’s processes and controls to manage and safeguard its inventory of materials, tools, and supplies. We may expand our scope or modify our objective during the audit. During the review, we plan to interview company officials involved in the management and oversight of inventory, conduct site visits to selected locations, and evaluate related policies, procedures, and data. We will work to minimize disruptions to the company by coordinating meetings with staff in advance.
Our interactions with the company will be consistent with P/I 2.1.4, which sets forth the relationship between our office and the company. In particular, section 7.0 of the policy discusses coordination between company officials and our Office of Audits.
We request that your office arrange an entrance conference for us with the appropriate company officials at the earliest possible date. We will keep you advised of the status of our work and any material changes in our objective, should they occur.