This sample audit report summarizes internal audit risk assessment results to be presented to the audit committee. In this report, internal audit conducted management interviews to understand their views of the risk environment; conducted an analysis of the risk environment by reviewing past audit results, Sarbanes-Oxley testing results and knowledge of the business and industry; and presented the draft plan to management and the audit committee chair.
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.