Internal Audit Report and Response Processing Policy

This policy outlines procedures for preparing and issuing internal audit reports, which includes how to hold an exit conference to discuss the results of an audit, and how to draft and finalize an audit report. Also outlined are procedures for preparing responses to internal audit reports, and monitoring and reporting the implementation status of responses to internal audit recommendations.

In addition, procedures for verifying reported implementation status are outlined in this sample. According to this policy, each business unit controller will monitor and periodically report the implementation status of corrective actions, which were committed to in management’s responses.