Transform your daily workflows and Share Internal Audit Report

Aug 6th, 2022
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How to Share Internal Audit Report

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Welcome, Im Hernan Murdock. In this episode, were going to take a look at written communications. So as internal auditors spend that much time preparing written communications, in particular, their reports, we would like to get a deeper look into what goes into these documents and how we prepare them, and maybe answer the who, what, when, where, how, kind of the thing about them. So to help us with this, Kathleen Crawford, who has a lot of experience in this regard, shes accompanying us. - So welcome, Kathleen. - Hi, Hernan. So as it relates to written communications, and particularly the report, why do we put that much effort into it? I would imagine that part of it is because this is like the product, right? But can you tell us more about why we issue written communications? Yes, youre absolutely right. This is our final product. Its the outward facing product. We have an inward facing one in the form of work papers, but this matters, most of all. It caps everything off. So we

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All audit clients are required to provide a written response to audit findings. The response represents managements plan for correcting or improving the finding situation. All responses are included in the final audit report that is distributed to senior management, the Board of Governors, and the external auditors.
10 Best Practices for Writing a Digestible Audit Report Reference Everything. Include a Reference Section. Use Figures, Visuals, and Text Stylization. Note Key Statistics about the Entity Audited. Make a Findings Sandwich. Ensure Every Issue Includes the 5 Cs of Observations. Include Detailed Observations.
To highlight the results of the audit and allow the reader to cut to the chase, use an executive summary. This opening section of the report should highlight the scope and objectives of the audit, provide a summarization of critical findings, key management actions and overall evaluation statement.
Internal audit reports belong to the organisation and should be shared where appropriate unless there are specific reasons for not doing so. These may include such things as confidentiality or privacy issues, or details related to allegations and behaviour of named or identifiable individuals.
Internal audit reports belong to the organisation and should be shared where appropriate unless there are specific reasons for not doing so. These may include such things as confidentiality or privacy issues, or details related to allegations and behaviour of named or identifiable individuals.
Internal audit work papers are confidential except as otherwise provided in this section or upon subpoena issued by a duly authorized court.
What Should Be in an Audit Report? Scope and objectives (must). Results (must). Recommendations and action plans (must). Conclusions (must). Opinion (should). Acknowledgment of satisfactory performance (encouraged).
Most companies are using many methods of communication to share audit results, including: Detailed written audit reports. Memos to management. Oral communication. Dashboards.

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