This sample audit report identifies perceived areas of risk and potential internal audit projects for a company after an internal audit risk assessment.
This risk assessment was designed to create an audit plan which addresses risks to strategic objectives, introduces a rotational three-year audit plan element, and includes a budget allowance for senior management-sponsored projects. As part of this project, internal audit was asked to identify ways in which the company’s Sarbanes-Oxley team members could be utilized in the execution of the internal audit plan in order to increase audit coverage while limiting an increase in internal audit costs.
This document should be used as a general guide to use when creating a report. It does not address all controls that could be assessed during this process. Subscribers are encouraged to customize the report so that it reflects specific company practices and business operations.