Writing Effective Audit Observations
OVERVIEW
The key to writing an effective auditobservation is having a comprehensive structured process. The Institute
of Internal Auditors recommends a process known as the 5Cs:
- Criteria
- Condition
- Cause
- Consequences (Effect)
- Corrective Action (Recommendation)
As you develop conclusions, findings, and
recommendations, you must present them to your client in a logical, complete,
and objective way. This process provides an easy way to consistently
develop and present your observations. The components in this process
include all the information you will need to inform and persuade.
Developing this process can be an important
tool for completing and reporting observations in a timely and comprehensive
way. It allows you to present those findings to your reader in a logical,
complete, and objective manner and, thus, enhances the chances of the client’s
buy-in and their agreement to your recommendations.
This process can also serve as a basis for
review by supervisors and managers. It is supported by your work papers,
and gives complete and clear details of your analysis and the basis for your
findings.
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| Writing Effective Audits |
WHY
SHOULD YOU ATTEND
The audit observation is the most important
part of an audit report. It represents the end result of weeks of
reviews, analyses, interviews and discussions. It is used to bring
significant issues to their attention that needs to be addressed. How
well you communicate that information is critical to influencing the readers and
getting the results you are seeking. A well written audit observation
will capture the readers’ attention and focus them on the important issues in
the report that needs to be addressed.
A well written audit observation adds value to
your clients by providing:
- Concise, understandable, and
persuasive observations
- Actionable recommendations
AREAS
COVERED
Review of the following recommended
observation standards in detail:
- Criteria (Standard used for comparison of area under review)
- Condition (Current status used in the
comparison)
- Cause (Reason that the Condition
does not meet the Criteria)
- Consequence (Risk if not
corrected)
- Corrective Actions (Action needed
to manage the risk)
Exercises for each component
WHO
WILL BENEFIT
- Chief Audit Executives
- Audit Directors
- Audit Supervisors
- Audit Managers
- Staff Auditors
- Government Auditors
- Compliance Auditors
- Internal Control Specialists
- Public Accountants
- Accounting Analysts
- Business Analysts
- Quality Control Specialists
LEARNING
OBJECTIVES
This internal auditor training will provide
the basic principles for writing effective audit observations. The audit
observations represent the end result of weeks of reviews, analyses, interviews
and discussions. It is used to provide important information to
management on the area you reviewed. And, more importantly, it provides
details to management on significant issues that needs to be addressed.
How well you communicate that information is critical to getting
management’s acceptance of your findings and their agreement with your
recommendations. And ultimately, this demonstrates the value you add to
the company and enhances your chances for promotions and greater salary
increases.
For more detail please click on this below link:
Email: support@trainingdoyens.com
Toll Free: +1-888-300-8494
Tel: +1-720-996-1616
Fax: +1-888-909-1882
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