Great Internal Audit Report

Name: Great Internal Audit Report
Rating: 4.3 (40 reviews)

Learn how to write an appreciated Internal Audit Report. The ideas shared can be implemented immediately.

Created byPetr Hadrava, FCCA, CIA, CISA, CRMA, CFSA

Last updated 8/2023

English

English [Auto],

What you'll learn

How to create an attractive Audit Report that will be APPRECIATED.
Incorporate STRATEGIC THINKING into the Audit Report.
Create a BALANCED Audit Report.
Importance of the appropriate LENGTH and CLARITY of the Audit Report.
How to handle MANAGEMENT SUMMARY and BACKGROUND sections of the Audit Report.
Best in class FINDINGS description including the RISK RATING and ACTION PLAN.
Create VISUALLY ATTRACTIVE Audit Report.
How to "SELL" your Audit Report.

Course content

5 sections • 15 lectures • 40m total length

Welcome to the Course3:18
Learn to craft a high-quality, objective internal audit report that engages readers and sells your work, with practical steps on length, clarity, visuals, sections, and a helpful checklist.
Audit Report as a Product of Internal Audit1:17
Create a high quality, shareable audit report from internal audit function that engages the board, regulators, and audit committees. Make the template a living document that adapts to stakeholders' needs.

Demonstrate Your Strategic Thinking6:36
Identify and engage your main audit stakeholders, and demonstrate how findings impact the company's strategic goals. Show the value of strategic thinking across levels to support goal achievement.
Objective and Balanced Audit Report2:20
Craft an objective and balanced internal audit report that credits well-performing areas, notes no findings when appropriate, and applies a risk-based, high-risk prioritization with sampling to maintain a holistic view.
Length of the Audit Report1:16
Discover why a concise audit report outperforms longer ones by prioritizing clarity, saving readers' time, and delivering findings quickly with a message that is easy to understand.
Clarity of the Audit Report3:54
Craft the audit report with clear, specific findings supported by numbers and percentages, enabling non-experts to understand the risk and trace conclusions to evidence and sources.

Scope of the Audit1:53
Clarify the audit scope by listing audited areas, marking non-audited areas in a risk-based, limited-scope approach, specify the scope period, and align with the compulsory audit cycle frequency.
Management Summary1:17
Develop a CEO-ready management summary that highlights audit findings, both strengths and weaknesses, identifies high-risk issues with action plans, and confirms communication to senior management with commitments to remove findings.
Background Section1:35
Provide a background section that explains how the audited area works, what operates as expected, summarize policies, procedures, regulations, systems (automated and manual), personnel, segregation of duties, regulatory reporting controls.
Findings4:07
Describe findings clearly to motivate action and improve processes, communicating risk and following a structured approach: how it is, how it should be, cause, risk, and the corrective action plan.
Risk Rating of the Findings3:00
Step back and assess findings objectively from a risk perspective, discussing risk assessment with the audit team. Explain severe risk ratings clearly to senior stakeholders.
Make the Finding Visually Attractive1:52
Use visuals such as graphs, tables, flow charts, bullet points, and bold or underlined text to make audit findings quickly understood by an overloaded audience, boosting clarity and engagement.
Corrective Action Plan5:26
develop a clearly stated corrective action plan with cost-benefit justification, proportionate and preventive controls (prefer automated), assign specific responsibilities, and set a realistic target date and progress tracking.

Requirements

There is no previous experience needed. You will learn everything you need to know.

Description

This course is about providing you with specific steps you can implement immediately to make your Internal Audit Report attractive. I will share with you real life experience collected during 20 years of auditing and issuing the Audit Reports.

Attractivity of the Audit Report is much broader term then design or layout of the Audit Report. The Audit Report must include aspects that the readers of the Audit Reports are looking for. They need to read number of different reports and you do not want your Report to be just the next boring report in a row.

Remember that you and your work are assessed through the Internal Audit Report you issue.

This course will help you "sell" your audit work done and at the same time meet the expectations of your key stakeholders (Board of Directors, Audit Committee, Supervisory Board, Regulator, etc.). Do you know what their expectation is? You will find out during this course.

You want your Audit Report to be attractive because very often it is the only output of your audit work being provided outside the Internal Audit department and if your Audit Report is poor the readers of the Report may conclude that your work behind the Report is poor as well. You do not want to create such an impression.

During this course I will cover:

Audit Report as a Product of Internal Audit
How to Demonstrate Strategic Thinking
Objective and Balanced Audit Report
Length of the Audit Report
Clarity and Content of the Audit Report
Scope of Audit
Management Summary
Background Section
Findings and Risk Rating of the Findings
Making the Findings Visually Attractive
Corrective Action Plan
How to "sell" your Internal Audit Report

Invest into yourself today and enroll this course. It is a great decision you can make for you today.

Who this course is for:

From Junior Auditors to Heads of Internal Audit who want to create value adding and at the same time attractive and appreciated Audit Reports.

Great Internal Audit Report

What you'll learn

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Course content

INTRODUCTION2 lectures • 5min

WRITE INTERNAL AUDIT REPORTS THAT WILL BE APPRECIATED4 lectures • 14min

CONTENT OF THE INTERNAL AUDIT REPORT7 lectures • 19min

HOW TO "SELL" YOUR INTERNAL AUDIT REPORT1 lecture • 2min

CONGRATULATIONS1 lecture • 1min

Requirements

Description

Who this course is for: