After the Closing Meeting, the Audit Team Leader should complete the Financial Audit Report Template, documenting in detail the audit conclusion, findings, and observations presented during the Closing Meeting, as well as the agreed upon reply deadline. Within two weeks of the Closing Meeting, the Audit Team Leader should submit AC1050-5 AUDIT REPORT to the Audit Team.

The Audit Team Leader may conduct a follow-up visit (or assign a member of the Audit Team), to take place at a time agreed to by the Audit Team Leader and the Manager of the affected process/control. The purpose of the follow-up visit is to verify that corrective actions in response to audit opinions have been implemented or that suitable progress toward their implementation has been made. Managers of audited processes/controls shall demonstrate that implemented corrective actions are achieving the desired effect.

Financial Audit Report Template Details

Pages: 02
Words: 194
Format: Microsoft Word 2013 (.docx)
Language: English
Manual: Finance
Category: Internal Controls
Procedure: Financial Internal Auditing Procedure AC1050
Type: Report