This sample report to the audit committee primarily focuses on the audit risk assessment process and its results and the internal audit planning process. It aims to give visual guidance on how internal auditors can present readable and graphical reports to the audit committee. Internal auditors can refer to this sample for ideas on ways to present complex materials in readable, graphical and concise formats.
The report includes a matrix summarizing the results of the risk assessment process. Each business cycle/process was evaluated by the risk assessment participants based on the importance to business strategy and the likelihood of control/process issues.
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.