This audit report sample will guide your organization’s internal audit activities for a specific fiscal year. This tool outlines a methodical approach to auditing, starting with initial discussions with key stakeholders to identify high-level risks and potential areas of focus. These discussions help confirm the areas that require attention and subsequently gain endorsement from executive and audit committees. The plan details the projects to be undertaken, including their scope, timing and the resources required, ensuring that all activities are aligned with the organization's strategic goals and risk environment.

Furthermore, it provides a schedule of when each audit will occur, along with the estimated days needed for completion. This document is invaluable for ensuring transparency and structured oversight, facilitating informed decision-making by management and ensuring compliance with regulatory standards. It also serves as a tool for aligning audit activities with the organization's strategic objectives, thereby enhancing operational efficiency and governance.

Developing a revised internal audit plan includes the following:

• A risk workshop was conducted to confirm areas of focus.
• Company executives and the audit committee endorsed the internal audit plan.
• Discussions with company executives were held.
• High-level organizational risks facing the company were confirmed.