This sample audit report outlines the activities and tasks included in the co-op advertising process and provides management with information about the condition of risks and internal controls.

The co-op process review focused on the following process elements: strategic and customer planning; co-op advertising (deal) planning and execution; claim and deal settlement; reporting analysis; and return merchandise authorizations.

An optimized co-op process has many strengths. At this stage, the policies and procedures demonstrate the following:

• Product strategies defined and articulated
• Co-op advertising strategies and policies documented
• Standard tools and contract/deal sheet formats consistently used