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Audit Reports available on KnowledgeLeader

    Business Continuity Management Program Assessment

    This sample audit report assesses a second generation business continuity management (BCM) program.



    HIPAA Security Gap Assessment
    This audit report identifies potential gaps in complying with the HIPAA Security Final Rule.

    Technology Change Management Audit Report
    This report discusses the results of a technology change management (TCM) process audit. The document offers insight into of the company’s TCM practices and strategies, and identifies strengths and improvement opportunities.

    Security Assessment Report
    This sample audit report discusses the key observations and recommendations of an enterprise security assessment for an organization’s external and internal IT infrastructure.

    External Quality Assessment of Internal Audit Activity – Validation of Management’s Self Assessment
    This audit report focuses on the external quality assessment review (QAR) conducted for a company’s internal audit activity.

    Audit Committee Report – Sarbanes-Oxley Update
    This audit report discusses Sarbanes-Oxley project updates including status of the documentation process, testing results, and opportunities for process improvements.

    Sales Order Cycle Review – Audit Report
    This sample sales order cycle review audit report outlines the quote-to-invoice process, contract operations and maintenance, accuracy and integrity of data captured in the order management system, as well as the quote-to-invoice cycle time.

    Entity-Level Questionnaire Results Report
    This report provides an analysis of a company’s entity-level controls under the COSO framework. Key sections include control environment, risk assessment, control activities, information and communication, and monitoring.

    Internal Audit Plan – Presentation to the Audit Committee
    This sample presentation describes the activities to be completed during the first two years of an internal audit plan for a start-up audit function based on a previous risk assessment.

    Internal Audit Site Review Report – Energy Industry
    The purpose of this audit report is to document the results from a site review at an organization within the energy industry.

    IT Organizational Assessment Report
    This report focuses on assessing and improving its IT processes. The report provides an overview of the methodology, business value drivers, recommendations, and an improvement roadmap.

    Pre-Year 1 SOX Roadmap – Audit Report
    This report serves as a template for organizations to use when documenting business and IT processes for eventual Sarbanes-Oxley (SOX) compliance.

    Real Estate Services Agreement Review
    The sample report discusses procedures for an audit of a real estate services agreement. The purpose of this audit was to identify and recover: cash due to contractually unallowable items; miscalculated payments; duplicate payments; overpayments; billing errors; and non-conformance to contractual terms.

    Rebates Process Audit Report
    This audit report evaluates current processes in place to calculate and record rebate information sent by distributors. The internal audit team also assessed the overall maturity of the business process with respect to six essential elements of infrastructure using a capability maturity model. The report highlights both “where the company is at present” and “what the future state of each process may look like” in a more mature state.

    Internal Audit Risk Assessment and Proposed Internal Audit Plan
    Internal Audit can use this document as a template for developing an annual audit plan from a risk assessment.

    Sarbanes-Oxley Section 404 Process Prioritization Report
    This document outlines the steps used by management in assessing the criticality of business processes, which is important in setting the scope for the internal control over financial reporting assessments. This includes prioritizing financial reporting elements, defining processes, linking processes to financial elements, and prioritizing processes.

    Controls Monitoring Quarterly Assessment Report
    This is an example report of internal audit’s quarterly assessment of the ongoing controls monitoring processes. This report provides an overview of the work performed and corresponding audit findings.

    Financial Due Diligence Report
    The purpose of this document is to provide a financial analysis of a company being purchased by another company. This report template can be used during the financial due diligence process.

    Risk Assessment Audit Report
    This report template provides the results of a risk assessment conducted by internal audit. Topics covered include: risk assessment methodology, risk assessment process, risk model, risk prioritization and risk map.

    Payroll Review Audit Report
    This audit report focuses on the payroll process and related functions. It documents the following: project executive summary; objectives, scope and approach; observations and improvement plans; and work performed.

    Business Continuity Management Report
    This template outlines sections to consider when developing a business continuity management (BCM) plan. It includes areas to document the business impact analysis, key company contacts, and location of BCM documents.

    Sarbanes-Oxley Year-End Audit Committee Report
    This report to the audit committee focuses on the progress of the Sarbanes-Oxley Section 404 program.

    Internal Audit – Board of Directors Orientation Report
    This document provides a board level overview of internal audit and internal controls. It can be used as an orientation guide for board members to a company’s internal audit department.

    COBIT Baseline Review Report – Sample Report
    This sample report provides a template to assess the maturity of IT processes and controls using the COBIT framework.

    Personal Identifiable Information Privacy Controls Review – Audit Report
    This is an example of an internal audit report. Internal audit conducted an audit on company procedures for handling personal identifiable information. The report includes an executive summary, and then describes the objectives, detailed findings (rated red or orange), recommendations, and follow-up.

    Fund Accounting Process Review – Audit Report
    This is a sample internal audit report of a fund accounting process review focusing on comprehensive recordkeeping and reporting requirements for registered investment companies and their affiliated persons. The objective of the project was to review the controls over the oversight and reporting of financial data for each fund.

    Human Resources Process and Compliance Review – Audit Report
    This sample human resources process and compliance internal audit report focuses on time reporting, payroll, recruiting, hiring, and termination. This report contains process maps of the HR process, including associated risks and controls.

    Quarterly Compliance Assessment – Audit Report
    This sample includes an internal audit quarterly assessment of a financial services company’s compliance policies and procedures. In this report, internal audit validates the operational effectiveness of key activities and controls within these policies and procedures. This assessment focuses on policies and procedures relating to anti-money laundering, whistleblower hotlines, custody, insurance, and code of ethics.

    Warranty/Field Services Review – Audit Report
    This is an example of an internal audit report focused on the findings resulting from a Warranty/Field-Services process review. This document highlights activities related to billing, customer inquiries, and contract negotiation. This report also illustrates the business impact of internal audit observations, recommended action steps, and a best practice comparison.

    Accounts Receivable, Credit, Collection and Cash Application Process Review – Audit Report
    This is an example of how the internal audit group can report their findings resulting from an Accounts Receivable, Credit, Collection, and Cash Application process review. This document highlights segregation of duties, process, and system observations and findings; and illustrates how to document the business impact of an observation or finding, recommendations, and management action plans for items requiring follow-up.

    Privacy Compliance Program Review – Audit Report
    This sample report 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. It also lists the steps taken to address identified risks and compares them to best practices.

    Foreign Subsidiary Review – Audit Report
    The objectives of this foreign subsidiary internal audit review were to: assess the adequacy of the overall financial control environment, assess the adequacy of key financial and accounting internal controls, evaluate compliance with significant corporate policies and procedures, and identify opportunities for process and internal control improvement. This sample report includes procedures performed as well as detailed issues and observations.

    Corporate Treasury Review – Audit Report
    This sample internal audit report, presented in PowerPoint format, illustrates treasury review objectives, scope and procedures performed. It includes a sample of treasury review observations and management implementation plans that address that the issues. The appendix has an internal control assessment for various cash flow and financial risks.

    Accounts Payable Review – Audit Report
    This is a sample internal audit report for an accounts payable review. The example illustrates a clear and concise format for presenting audit objectives, scope, and procedures performed. It includes an executive summary of recommendations with their corresponding priority. This is followed by the detailed observations and the related management actions plans. Each plan is assigned an owner and a due date for resolution of the audit issue.

    Internal Audit Plan Status – Report to Audit Committee
    This sample report to the audit committee presents a logical, easy-to-follow summary of audit projects completed, in-progress, and scheduled. The report demonstrates the use of reporting elements such as progress bar charts, color-coded ratings on the effectiveness of controls, and a scorecard style approach to reporting recommendations and status.

    Internal Controls Report: Sample 1
    This annual audit committee report sample demonstrates one approach that a chief audit executive may use to report on the state of internal controls for the audit committee, as required in the US following the passage of the Sarbanes-Oxley Act of 2002.

    Internal Controls Report: Sample 2
    This is an example of a report to the audit committee on the adequacy of a company's systems of internal controls. It describes the work that internal audit has completed over the past year, and provides a high level assessment of and an indication of trends in the control environment.

    Audit Report Samples
    This two sample audit reports provide examples of graphical, well-organized ways to present the findings and results of an audit.

    Annual Audit Plan: Sample Report to the Audit Committee
    This sample report shows how the internal audit group can report to the Audit Committee on their annual risk assessment and planning process. Many of the risks presented in the report are the type that a manufacturing company might face, but the sample can be used as a template for any industry.

    Internal Audit Site Review – Audit Report
    This sample report summarizes an internal audit review of a remote site location. It is created in a graphical presentation style and includes internal audit objectives, an executive summary, the audit work performed, risk based prioritization, process maps of audit areas, CAAT testing, and a best practices benchmarking study.

    Incentive Compensation – Audit Report
    This sample report summarizes an internal audit review of the incentive compensation area. It shows a presentation style that includes an executive summary, the audit work performed, process maps of the audit area, recommendations, and a benchmarking study.

    Audit Committee Reports: Sample Presentations
    Each of these four samples contains an audit committee report that has been presented by internal auditors at a target company. The report content primarily focuses on presenting the audit risk assessment process and results, the internal audit planning process and timing, and the business self-assessment processes and results.

    Audit Plan Presentation
    This example presentation shows some of the documents that can be included in the presentation of the audit plan to management and the audit committee.


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