An audit report is a formal opinion or disclaimer that is given either by an auditor that is
within the company or an auditor that is external to the company. Audits can be
performed on an individual or entity and an audit report is vital to notify the entity or
individual of their financial information. This template can be used by individuals or
entities that are in the process of being audited or if they want to self-audit to see their
financial information.
Audit Reports have three major objectives:
1. Inform management of audit findings.
2. Explain to management why there are items that need to be addressed.
3. Resolve items that are critical to the Client’s audit process.
Audit Reports should include the following: (1) Introduction; (2) Terminology and Scope of
Audit; (3) Findings and Conclusions; and (4) Corrective Actions.
To use this template:
(1) Date your template.
(2) Mark each item with a “Yes” or “No” checkmark.
If there is an item that is not applicable, note “N/A” for the item.
(3) Go through the “No” checkmarks, and obtain the necessary information.
(4) All items should be checked as “Yes” or “N/A” before finalizing the audit process.
Guidelines:
Audit Reports should include the following:
I. Introduction
1. Audit Report Users
2. Audit Purpose
3. Communication Channels
4. Outline & Design
II. Terminology & Scope of Audit
1. Format Specifications
2. Which items are key to the audit
3. Who will be handling the audit
4. Level of detail
5. Comments
6. Summary
III. Findings & Conclusions
1. Format Specifications
2. What items are key to the audit
3. Level of detail
4. Comments
5. Summary
IV. Corrective Actions
1. Items requiring corrective action
2. Items requiring policies and procedures
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3. Items requiring internal management processes
To use this audit checklist:
(1) Date your template.
(2) Mark each item with a “Yes” or “No” checkmark.
If there is an item that is not applicable, note “N/A” for the item.
(3) Go through the “No” checkmarks, and obtain the necessary information.
(4) All items should be checked as “Yes” or “N/A” before proceeding with the start-up business.
(5) For each category, add specific fields relevant to your audit.
Introduction — Audit Report Users Y N Comments
Client information: ________________________________
Audit information: ______________________________
Representative information: ________________________
Introduction — Audit Purpose Y N Comments
Audited financials: ______________________________
Reporting regulations: ___________________________
Personnel audits: ______________________________
Introduction — Communication Channels Y N Comments
Audit manager: ______________________________
Accountant: _________________________________
Management: _______________________________
Introduction — Outline & Design Y N Comments
Background: ________________________________
Purpose: ___________________________________
Guidelines: _________________________________
Terminology/Scope of Audit — Format Y N Comments
Consistencies: ______________________________
Interchangeable items: ________________________
Mechanisms: _______________________________
Terminology/Scope of Audit — Key Items Y N Comments
Audit structure: _____________________________
Audit contents: ______________________________
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Terminology/Scope of Audit — Key Items Y N Comments
Audit purpose: ______________________________
Terminology/Scope of Audit — Who is Involved Y N Comments
Person A: _________________________________
Person B: _________________________________
Person C: ________________________________
Terminology/Scope of Audit — Detail Level Y N Comments
Findings: _________________________________
Significance: _______________________________
Expectations: ______________________________