Sample Audit Reports Available on KnowledgeLeader

KnowledgeLeader's sample audit reports provide you with an outline of how to conduct and report on a variety of audits. Our audit report templates contain sample information such as: the background and purpose of an audit; objectives of an audit; activities of an audit; findings and identification of key risks; recommendations of a particular audit, and much more. As always, these tools are provided in downloadable versions, so they can be customized for use in your organization.

We offer over 140 sample audit reports that offer a wide range of support. Some of KnowledgeLeader's most popular audit report samples are listed below. For a full list of available items, visit our Audit Reports content area.

Audit Committee Audit Reports | Audit Plan Audit Reports | Compliance Audit Reports | Financial Audit Reports | Internal Audit Risk Assessment Audit Reports | IT Audit Reports | Process Audit Reports| Security Audit Reports

AUDIT PLAN AUDIT REPORT SAMPLES

Software Company Internal Audit Plan This sample audit report highlights specific areas of focus for each proposed internal audit project at a software company. The scope of each audit will include a review and evaluation of existing policies and procedures, key internal controls, process effectiveness and efficiency, and key performance measures. Internal audit’s mission is to assist management and board of directors with discharging their responsibilities as they relate to compliance with applicable laws and regulations, internal controls, and efficiency and effectiveness of business processes; etc.

COMPLIANCE AUDIT REPORT SAMPLES

	Import Compliance Audit Report This compliance audit report sample was based on a review from a company that imports goods from countries outside of the United States of America, and thus must comply with the laws and regulations of the U.S. Customs and Border Protection (“Customs”), division of the U.S. Department of Homeland Security. The company's International Transportation and Compliance (“ITC”) department developed standard import operating procedures to ensure compliance with Customs regulations. The objective was to assess compliance with the company's import procedures established by ITC. For each procedure, internal audit identified the controls in place to monitor compliance with the procedures and then tested the operation of the monitoring controls.
	Privacy Compliance Program Review Audit Report This compliance audit report sample focuses on the state of privacy compliance at a financial institution. The review addresses compliance with the Gramm-Leach-Bliley Act (GLB) and uses a capability maturity continuum and gap analysis to illustrate the status of compliance, as well as provides directions for the future privacy effort where appropriate. It also lists the steps taken to address identified risks and compares them to best practices.

FINANCIAL AUDIT REPORT SAMPLES

	Financial Reporting Process Review Audit Report This sample audit report focuses on improving an organization's close-the-books and financial reporting processes. Improvement opportunities include: reduce the time taken to accomplish the monthly close; simplify closing and financial reporting tasks and reduce the manual efforts required; and re-balance the workload associated with the close process thereby reducing the overtime commitment among the company’s financial managers and staff during the close period.
	Financial Due Diligence Report This sample audit report presents findings from a financial due diligence analysis of a company being acquired. The report includes details on the following: (1) Background and introduction, covering industry overview, overview of the company, and operations summary; (2) Framework, including environment, owners/alliances, value, customers, management, competitors, information, business processes, and suppliers; (3) The proposed transaction; (4) Key findings, including deal issues, valuation issues, representation issues and post-closing issues; (5) Analysis of profit and loss account, covering revenue, summary of contract and costs; etc.
	Financial Close Review Audit Report This sample audit report reviews the financial close process at an organization and identifies ways to improve accuracy, completeness and sustainability. Some of the steps in the review process include: benchmarking the current state of the close process and techniques compared to common practices; reviewing areas and processes outside the finance department control that could positively impact finance operations; reviewing the critical path of the financial close and identifying improvement opportunities; etc.
	Payroll Review Audit Report This sample audit report summarizes findings from a review of a company’s payroll process. The objectives of this review were to develop an understanding of payroll policies and processes; analyze and update existing process documentation; document associated risks and controls; identify gaps in controls where risks were not adequately mitigated; and test selected controls and verify that they are operating as stated.

IT AUDIT REPORT SAMPLES

	IT System Pre-Implementation Review Audit Report This IT audit report sample shares findings from a review of the selected processes that support the IQ4 Epic implementation project at a company. The objective was to evaluate the effectiveness of specific implementation processes prior to the initial Epic application “go-live.” The scope of the review included the following activities: completed a high-level review of the company’s approach and strategy for designing Epic application security, reviewed the approach and process being utilized by the implementation team to test Epic functionality, assessed the process used to manage the design and build of critical elements of the Epic implementation (e.g., interfaces, data conversions and reports), and more.
	IT Risk Assessment Audit Report This IT audit report sample outlines findings from a high-level IT risk assessment at a company. The purpose of this assessment was to: (1) assist management in obtaining a better understanding of the technology risk impacting the organization, (2) prioritize the technology risk areas, and (3) develop a three-year IT audit plan. In this IT audit report sample, the internal audit department’s perspective was that substantial IT audit coverage is gained annually through Sarbanes-Oxley (SOX) IT general controls testing; however, some additional IT audit work should be performed annually to address other IT risks not covered (or not covered in sufficient depth) through SOX IT testing. An IT process-centric risk assessment approach was taken. The company’s internal audit department intended to further refine the assessment to gain input from business executives.
	IT Strategy Gap Assessment Audit Report Increased financial and regulatory scrutiny has forced organizations to implement tighter fiscal policy around spending from a cost containment and strategic investment standpoint. As a result, it is important for organizations to be able to measure and monitor the value delivered by those investments. This IT audit report sample focuses on the gap assessment results of a company’s IT strategic plan. Objectives included an evaluation of the level of alignment between the business strategic plan and IT strategic plan, an assessment the adequacy of information and process used in the development of the plan, and development of a roadmap for optimization of the IT strategic plan.
	IT Governance Review Audit Report The Institute of Internal Auditors (IIA) Standards identify IT governance as a key area that should be regularly reviewed by the internal audit function. Objectives of this IT governance audit report sample include gaining a high-level understanding of the organization's IT governance processes and providing management with a benchmark against which to determine and pursue improved IT governance performance.

PROCESS AUDIT REPORT SAMPLES

	Intellectual Property Process Audit Report This process audit report sample shares findings from an intellectual property processes review at a company. The key focus areas were patents, trademarks and trade secrets. In this sample, internal audit focused on patents based upon preliminary discussions with the company’s management and the potential risks. The review included interviews with members of management, engineering and human resources. On a test basis, selected transactions were traced through to the supporting books and records of the company. The interviews and analysis of selected transactions revealed several areas where opportunities for improvement existed.
	Third-Party Licensing Process Audit Report This process audit report sample reviews the processes utilized by a company to comply with third-party licensing agreements. The objectives of the project were to analyze the current royalty reporting process to identify risk areas that could lead to potential inaccuracies in reporting of licensing obligations; identify and recommend opportunities for process and control improvements over the royalty reporting process; analyze five specific contracts; identify specific critical risks for each of these contracts; and identify areas for control or process improvements related to these contracts.
	Rebate Process Audit Report This process audit report sample provides findings from a company’s rebate process review. The reviewed processes include the distributor group rebate process, the buyer group rebate process, and the rebate accounting process and general ledger. The purpose of the review was to identify potential control strengths and weaknesses within this process, test the controls specifically related to the distributor group rebate process, and provide recommendations that could assist in mitigating rebate-specific business risks.

SECURITY AUDIT REPORT SAMPLES

	Security Assessment Audit Report This sample audit report provides results from the information security audit performed at a company. This management summary report is designed to state the level of security assessed, identify security deficiencies and areas of strength and weakness, and develop a course of action to correct vulnerabilities and mitigate the associated risks. All information security systems, which by their nature are dependent on their human operators, are vulnerable to some degree.
	Cybersecurity Audit Report This cybersecurity audit report sample presents the results of the vulnerability assessments and penetration testing that security specialists performed on a company’s external and internal facing environment. The intent of the project was to review the security posture of the company’s network, devices, and applications accessible from the Internet. The scope of the review was limited to specific target dates and agreed upon target systems. This sample summary report is designed to deepen understanding of the level of security, to identify security deficiencies and areas of strengths and weaknesses, and to help develop an action-plan to correct vulnerabilities and mitigate the associated risks.