Integrated Audit Committee Plan Report

This sample report can be used by auditors to evaluate an organization's control environment and monitor the components of internal controls over financial reporting using an integrated approach.

An integrated audit approach includes: understanding the business, including objectives and risks; identifying significant accounts and disclosures from consolidated financial statements; identifying significant locations and any locations with specific risk; defining an approach to locations, considering company-level controls; and identifying relevant assertions, processes, transactions and systems for each significant account and disclosure.

Testing involved conducting inquiries of management and others within the entity; considering the results of analytical procedures, including revenue analytics; being aware of conditions generally present to commit fraud and assessing risks of fraud throughout the audit; evaluating management’s programs and controls related to fraud; examining journal entries and other adjustments; and reviewing current and retrospective accounting estimates for biases.