Audit Opinion Letter Template
When information presented suggests or demonstrates a nonconformance, the Auditor should write up a finding on the Audit Opinion Letter Template. The Audit Opinion includes referenced standard or regulation, name, description of financial statement/document/control, deficiency/weakness, and more.
At the conclusion of the auditing activity and prior to the Closing Meeting, the Audit Team should meet in order to integrate findings, observations, general trends, and specific follow-up issues. During this “pre-closing” meeting, the team should arrive at a conclusion on the degree to which audited processes/controls meet audit criteria and objectives:
- The strengths, weaknesses, and observations (not findings, but opportunities for improvement) noted by the entire Audit Team are collected and collated;
- Findings are identified and categorized according to their materiality and risk and objective evidence of each finding is identified;
- AC1050-4 AUDIT OPINION forms are collated, counted, and analyzed;
- Observations are identified; and
- Possible areas for disagreement are discussed and potential resolutions are developed.
Audit Opinion Letter Template Details
Format: Microsoft Word 2013 (.docx)
Category: Internal Controls
Procedure: Financial Internal Auditing Procedure AC1050
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