Audit Planning Memo

This tool provides three sample planning memos, which serve as a report of an internal audit function’s high-level assessment of the company’s audit planning process, and outlines what should be included in an audit planning memorandum.

In these memos, internal audit evaluated the effectiveness of any existing controls that, based on sample testing, have consistently been in operation during the audit sample period. The audit planning memo can be used for reviewing the effectiveness of the function and confirming that the scope and direction of the group is aligned with industry best practices. Memo sections include background, scope and approach, baseline description, and recommendations.