Management Audit Checklist for Universal Life

This document is a management audit checklist prepared by Fred Atore for Universal Life, conducted on May 25, 2023. The checklist includes a comprehensive evaluation of various administrative, financial, and operational aspects of the organization. It identifies seven flagged items and outlines one action item related to risk management. The audit assesses areas such as access to sensitive information, transaction recording, expenditure approval processes, and the existence of a risk management plan. Additionally, it reviews the organization's policies and procedures, financial reporting practices, and compliance with insurance coverage requirements. The checklist also highlights the need for regular reviews of the annual operating budget and the importance of conducting risk assessments for event management. The overall score of the audit is 91.77%, indicating areas of concern that require attention to ensure compliance and effective management practices.