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Operational Auditing Best Practices for Effective Recommendations

Explore key components of audit findings, from conditions to recommendations and practical considerations. Understand reporting standards, report models, and writing techniques. Learn how to address other reporting issues for successful operational auditing.

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Operational Auditing Best Practices for Effective Recommendations

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  1. Audit Finding Components • Condition • Criteria/Standard • Effect: Relate to 5 Control Objs. • Cause • Recommendation Operational Auditing--Spring 2008

  2. Recommendation Considerations • Does it solve the problem? • Is it feasible for the auditee? • Is it compatible with the auditee’s ops.? • Is it cost effective? • Is it a long or short-term solution? Operational Auditing--Spring 2008

  3. Other Issues • Audit Findings Summary (pps. 384-385) Operational Auditing--Spring 2008

  4. Reporting Standards • Signed written report • Pre-issuance discussion • Clear, objective reporting • Purpose, scope & results required • Recommendations optional • Auditee response optional • Review of report & distribution Operational Auditing--Spring 2008

  5. Report Use • Audit Staff • Work summary • Action catalyst • Training • Evaluation • Follow up Operational Auditing--Spring 2008

  6. Report Use • Operating Management • Action catalyst • Support • Visibility • Evaluation • Top Management • Visibility • Audit scope • Objective insight Operational Auditing--Spring 2008

  7. Closing Conference • Audit review • Major findings • Other findings • Report review logistics • Audit conduct feedback • Thank you’s Operational Auditing--Spring 2008

  8. Report Model • Cover • Formalities • Executive Summary • Findings • Major • Other • See checklist at p. 428 Operational Auditing--Spring 2008

  9. Effective Writing • Gather information • Conversational style • Keep it short & simple • Active voice • Familiar vocabulary • Use captions • Use italics and white space • Use graphics & footnotes Operational Auditing--Spring 2008

  10. Other Reporting Issues • Interim updates • Distribution • Audit Committee • Senior Management • Department Management • Internal Audit • External Audit Operational Auditing--Spring 2008

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