Auditors can use the key findings and recommendations included in this audit report sample to evaluate and improve their audit rating system.

This report does not attempt to provide a “perfect” framework nor implement changes in the company’s risk-based audits and audit rating system framework. Rather, it highlights improvement points that should be considered by the senior management team to effectively partner with the company’s vision. As the risk management group (RMG) and internal audit are working on a common risk language, this initiative should result in the alignment of understanding of the responsibilities.