Internal audit report

Congrats !!! for your job

Basically internal audit report is been written in three catergories for every observation:

1. Observation

2. Implication/Consequences

3. Recommendation/Suggestions

But you have to first prepare draft audit report and after discussing the same with auditees you need to redraft and finalize the same for presenting before management

After finalising the report you have to issue the same to the process / business owners and need to get replies in the following format for every observation

1.Cause

2.Remedial action

3.Future course of action

4.Compliance date

5.Responsibility matrix

Hope this may help you!!!!!

Thanks

I agree with Amit. The report should preferably be in power point format but if your agreement with client is for a different format then follow the said agreed format.

Please spend initial slides/ pages on introduction/ scope coverage, disclaimers (exclusions, etc), then give synopsis (executive summary) of your observations. you may also want to give extent of cheking in the area covered in a separate slide.

Grade all observations in High, Medium and Low risk categories and arrange sequence of observations as High first, then medium and lastly, low risk observations. Always discuss your observations with process owners first before including in draft report. Include only those observations which cannot be resolved even after discussing with process owners.

Issue draft report for management comments. Obtain management comments which should include course of action to close the observations with due dates. Discuss with management if any of the comments/ course of action/ due dates is not acceptable so as to obtain revised comments.

Incorporate the management comments in the report and release the final report. As regards Annexures, you can copy them in MS excel format which can be pasted in power point file. Do add slide for list of addressees in the beginning whom report is being issued.