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DEPARTMENT OF REVENUE & FINANCE GENERAL EMPLOYEES PENSION FUND AUDIT 2213 JANUARY 13, 2023Internal Audit Department 315 E. Kennedy Boulevard Tampa, Florida 33602 Office (813) 2747159January 13, 2023
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How to fill out financial and performance audits

01
Gather all necessary financial documents such as balance sheets, income statements, and cash flow statements.
02
Review the financial records to ensure accuracy and completeness.
03
Analyze the financial data to identify any discrepancies or areas of concern.
04
Prepare a detailed audit plan outlining the scope and objectives of the audit.
05
Conduct fieldwork to gather additional information and evidence.
06
Document findings and recommendations in a comprehensive audit report.

Who needs financial and performance audits?

01
Government agencies to ensure compliance with regulations and accountability of public funds.
02
Non-profit organizations to demonstrate transparency to donors and stakeholders.
03
Corporations to provide assurance to shareholders and investors.
04
Financial institutions to evaluate creditworthiness and risk.
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Financial audits focus on the accuracy of financial statements and adherence to accounting standards, while performance audits assess the efficiency and effectiveness of an organization's operations.
Organizations that receive government funding, public companies, and other entities subject to regulatory requirements are typically required to file financial and performance audits.
To fill out financial and performance audits, organizations must gather relevant financial data, documentation, and operational metrics, then follow the specific guidelines set by regulatory bodies to prepare the audit reports.
The purpose of financial audits is to provide assurance on the integrity of financial statements, while performance audits aim to improve operational efficiency and accountability in the use of resources.
Financial audits must report on financial position, results of operations, and cash flows, while performance audits typically report on program effectiveness, resource utilization, and compliance with laws and regulations.
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