One of the primary responsibilities of the internal audit function is to communicate how an organization needs to change its behavior. Persuasive communication is thus an essential skill for all auditors.
In many cases the effectiveness of the audit itself can be impacted by the quality of the audit report. As such, it is critical that the report is professional and communicates the desired message in a clear, concise and unambiguous way, such that it can elicit management action.
Finally, the audit department is frequently measured on the quality of its primary output: the audit report. An audit report that results in a “change” for the better, is the only effective internal audit report that adds value to the organization
The Challenges Of Audit Reporting
- Auditors perspective
- Auditee perspective
- Senior management perspective
- Board perspective
Problems With Internal Audit Reports
- What the reports say incorrectly
- What the reports say, but they shouldn’t
- What the reports don’t say, but they should
Exercise: Analysis of actual audit reports
Condition / Observation
- Objective vs. Subjective
- Judgmental vs. Factual
- Root cause analysis
- Visual presentation
- Proof reading / best practices
- Realistic vs. Idealistic
Exercise: How to organize the content
Priority Rating Of Audit Reports
- Linkage with report content
- Linkage with priority of functional area
- A holistic approach
- Useful tool I template to assign priority to audit reports
Group Exercise: rate audit reports using the tool and template
Management Expectations From Audit Reporting
- Condition / Observation
- Effect / Exposure
- Key Elements When Drafting An Internal Audit Report
- Avoid “routinization”
- Clear & Concise
- Organize content for the “human”
- Relevant to the audience
- Formatting rules
Exercise–begin With The End In Mind: How To Create A Catchy And Effective Executive Summary
Effect / Exposure
- Language / Tone
- Financial impact
Risk Ratings Of Audit Observations
- Linkage with report content
- Linkage with exposure
- A holistic approach
- Useful tool I template to assign risk rating
Exercise: rate audit observations using the tool and template
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It is very important to analyze the need for Training along with the level of knowledge you require. This session give you a liberty to choose the modules you need, discuss it with the trainer how you want to be delivered, decide the place at your convenience and allocate number of hours to solve your problem. This does not include any development as a consulting but will include solution if you are facing a particular problem.