Internal Audit Report

Internal Audit Report does not have any standard format because need of the management is different from organisation to organisation. First of all; you have to see internal controls whether existing. If existing whether effective. If effective; according to the management; whether any suggestions are required from auditor's side. If yes; discuss with the management. Regarding questionnaire about cash, debtors, creditors, expenses etc.; same procedure is carried on as is done in statutory audit.

In fact, there is no need for following a stringent format for carving an internal audit report. It specifies what we, as an auditors, wants to communicate with the management.  The Problem is reported, analysed, and suggestions are given based on our findings.