Writing Effective Audit Observations
OVERVIEW
The key to writing an effective audit observation 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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| Internal Audit Training |
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
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.
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
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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