Get the free Schedule of Audit Findings and Responses

This document outlines the audit findings regarding the Pierce Conservation District's internal controls over purchasing and disbursements, as well as financial controls over special assessment revenue

How to fill out schedule of audit findings

How to fill out Schedule of Audit Findings and Responses

1. Begin by reviewing the audit report and identify all findings.
2. For each finding, provide a clear description of the issue.
3. Specify the criteria that were not met or the standard that was violated.
4. Document the evidence that supports the finding.
5. Outline the management's response to each finding, including corrective actions planned or taken.
6. Assign deadlines for completing the corrective actions.
7. Include a section for follow-up review and verification of the implemented responses.
8. Ensure the document is clearly formatted for readability and consistency.

Who needs Schedule of Audit Findings and Responses?

1. Internal audit teams to track and manage audit findings.
2. Management to oversee corrective actions and ensure compliance.
3. External auditors for reference during subsequent audits.
4. Regulatory bodies for ensuring accountability and transparency.

People Also Ask about

What are the 4 C's of audit findings?

We've always believed that boards should ensure that their organizations maximize the full potential of internal audit. There are four C's directors should consider when evaluating the sufficiency of any risk-based audit plan: culture, competitiveness, compliance and cybersecurity.

How to resolve audit findings?

How do you resolve audit findings? Review each audit finding. Identify key deadlines for resolution. Seek clarification where necessary. Develop and implement a corrective action plan. Document your actions. Communicate with auditors. Test, review, and improve your process. Leverage audit insights for team upskilling.

What are the 5 C's of audit findings?

Let's break down each component: Criteria. Criteria refer to the standards or benchmarks against which performance or compliance is evaluated. Condition. The condition describes the current state or factual situation identified during the audit. Cause. Consequence. Corrective Action. Why Are the 5 C's Important?

How to respond to audit findings?

The response should include your reaction to the draft audit report, including whether you agree with the findings. We include your audit response in an appendix to the audit report, so that readers will be informed of your perspective on our findings and recommendations.

How to response audit findings?

Writing an audit finding response can be relatively easy if the following guidelines are used: Respond directly to the finding and its recommendation(s). with the recommendation, and optionally include the enhanced action(s) in the management response.

What are the 7 steps in the audit process?

Audit Process Step 1: Planning. The auditor will review prior audits in your area and professional literature. Step 2: Notification. Step 3: Opening Meeting. Step 4: Fieldwork. Step 5: Report Drafting. Step 6: Management Response. Step 7: Closing Meeting. Step 8: Final Audit Report Distribution.

What is the schedule in an audit report?

Sometimes referred to as an 'audit programme', an 'audit schedule' is defined as a “set of one or more audits planned for a specific time frame and directed towards a specific purpose”.

For pdfFiller’s FAQs

What is Schedule of Audit Findings and Responses?

The Schedule of Audit Findings and Responses is a formal document that summarizes the findings from an audit, along with the corresponding responses from the audited entity addressing those findings.

Who is required to file Schedule of Audit Findings and Responses?

Organizations or entities undergoing an audit, including public companies, non-profit organizations, and certain government entities, are typically required to file a Schedule of Audit Findings and Responses.

How to fill out Schedule of Audit Findings and Responses?

To fill out the Schedule of Audit Findings and Responses, auditors should document the findings, categorizing each finding with appropriate details, and then include the responses from the organization regarding how they plan to address the findings.

What is the purpose of Schedule of Audit Findings and Responses?

The purpose of the Schedule of Audit Findings and Responses is to provide a clear record of identified issues during the audit process along with the management's plan for remediation, ensuring transparency and accountability.

What information must be reported on Schedule of Audit Findings and Responses?

The Schedule of Audit Findings and Responses must report the audit findings, a description of the issues, the significance of each finding, management responses, and planned corrective actions along with timelines for implementation.