Understand and evaluate your company's stock option management process, performing tests, and investigating control weaknesses with this internal audit work program.

Project work steps include: 

• Review existing policies and procedures for the stock option process
• Interview key personnel to understand the process
• Detail the testing of option grants
• Detail the testing of option exercises
• Detail the testing of cancellations
• Check the last proxy statement to see if there were several late SEC beneficial ownership filings
• Ensure that option grants are in range for appropriate grade levels
• Look for segregation of duties in cash handling