This internal audit planning memo provides important details for internal audit planning preparation.
Areas of internal audit planning include internal audit team member names and roles, duration, location, company business hours, key contacts, internal audit scope and approach, deliverables, high-level work programs, and high-level work schedules. This memorandum should be completed as part of the initial audit planning process and is meant to enhance audit efficiency. During the planning process, fieldwork, working papers and deliverable drafts should be completed by a certain date.