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  • Ideal Sequence of Internal Audit Report

     Shruti Bhatia updated 1 year, 4 months ago 2 Members · 2 Posts
  • Alkit

    May 15, 2021 at 8:53 am

    Ideal Sequence of Internal Audit Report to be presented to Audit Committee.
    1. Title
    2. Index
    3. Audit Plan (Along with progress)
    4. Scope of Audit areas covered in this quarter + limitations if any (Optional)
    5. Status of previous audit observations
    6. Summary of audit observations ( In 1-2 slides)
    7. Rating parameter ( High, medium, low or Red , Amber, Green)
    8. Detailed observations( Max 1 slide for 1 issue)
    9 Disclaimer

    Thank You !!

  • Shruti Bhatia

    May 19, 2021 at 8:30 am

    In addition to above it should also include below

    1. Risk Mattrix – Criteria of defining the observation as High Medium and Low. The same criteria should be approved by board.

    2. Whenever an observation is rated High Medium Low , reference should be given to the specific criteria basis which it has been rated

    3. Incase the observation is a repeat finding, it should mention it clearly.

    4. Disclaimer – Incase the information is not provided, some application access not provided or data referred to produce the report

    5. Lastly, Annexures

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0 of 0 posts June 2018