Use this audit report sample to evaluate your organization's risk management and control systems. This document highlights a systematic approach that includes reviewing existing data, conducting interviews with senior management and external auditors, and facilitating risk assessment workshops. It also details the process of mapping high-priority risks to review areas, leading to the formulation of a review plan that focuses on areas of greatest risk and value to the organization.

Furthermore, it provides a detailed review plan for key areas like purchasing, payroll, expense management, inventory management, and health and safety. This report can also assist in understanding the organization's strategic objectives, operational processes and potential risks. The document encourages the integration of independent, objective assurance with value-added recommendations to improve governance, risk management and control effectiveness. Therefore, this report is a valuable tool for performing a thorough, focused and effective audit.

The approach for conducting this type of audit included:

• Reviewing existing shelf data
• Conducting interviews with senior management, the audit and security committee, and external auditors
• Compiling interview results and developing a tailored company risk model
• Compiling the company's review universe