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How to Write Effective Audit Observations: The Principles for Bullet Proofing Your Audit Findings

  • CPA (CA)
  • CRMA
  • CGAP
  • CGFM
  • CIA
  • CPA (US)
  • IAP
  • QIAL

This Course is Also Available in Self Study (On-Demand)

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

Preparing for and conducting an audit are the initial components of the audit process; writing a good audit report is the final step. Communicating the results of an audit is just as important as performing it. However, auditors are often frustrated when their audit reports are not taken seriously or used effectively because they do not provide meaningful information.

Even the best-planned audit will do little good if results are not effectively communicated to the audit client to make the needed fixes. This online CPE/CPD course will discuss how to write audit observations so that whether it’s used internally or externally, the audit report conveys the proper information.

The key to writing an effective audit observation is having a comprehensive structured process.  The Institute of Internal Auditors recommends a process known as the 5Cs:

  • Criteria
  • Condition
  • Cause
  • Consequences (Effect)
  • Corrective Action (Recommendation)

As you develop conclusions, findings, and recommendations, you must present them to your client in a logical, complete, and objective way.  This process provides an easy way to consistently develop and present your observations in a timely manner.  The components in this process include all the information you will need to inform and persuade.  It allows you to present your findings to your reader in a logical, complete, and objective manner and, thus, enhances the chances of the client’s buy-in and their agreement to your recommendations.

This process can also serve as a basis for review by audit supervisors and managers.  It is supported by your work papers and gives complete and clear details of your analysis and the basis for your findings.

Writing audit observations effectively brings issues to management’s attention that needs to be addressed. How well you communicate that information is critical to getting the results you are seeking.

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Learning Objectives

  • To discuss the five components of an effective audit observation
  • To discuss examples of each component
  • To describe the relevant IIA Standards 
  • To identify the needed information for adequate follow-up
  • To determine the importance of observation headlines

Recommended For

  • This IIA- Approved CPE course is recommended for CPAs, CIAs, Internal as well as External Auditors, Government Auditors, Audit Manager or Staff of Auditors interested in effectively communicating the results that can positively influence readers and get the results they are seeking and add value to their clients.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Auditors
  • Certified Public Accountant
  • Chartered Professional Accountant
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Forensic Auditor
  • Fraud & Forensic Auditor
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1.5 CPE Credit for Certified Internal Auditors (CIA)
  • 1.5 CPE Credit for Certified Government Financial Manager (CGFM)
  • 1.5 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 1.5 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 1.5 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 1.5 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 1.5 CPE Credit for Internal Audit Practitioner (IAP)
  • 1.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)

Presenter

About Presenter

Jonnie Keith, CIA, CFE, CGAP

Audit Instructor JonSherr Ent.

Mr. Keith has over 40 years of audit experience and served as the Chief Audit Executive for the Metropolitan Atlanta Rapid Transit Authority (MARTA) for 11 years before his retirement in 2012.  


As the Chief Audit Executive for MARTA, he was responsible for administering the overall audit activities for the Department of Internal Audit including:


  • Providing the Board, the GM/CEO, MARTA Management and appropriate government entities with independent analysis, appraisals, and recommendations concerning operational, information technology, contract compliance, and financial audits.

  • Directing the day-to-day activities for three audit managers, 12 auditors and the audit coordinator.

  • Developing and/or reviewing all audit reports and audit correspondence.


His other audit experience includes serving as: 


  • Operational Audit Manager at MARTA 

  • Senior Auditor in the Contract Compliance Audit Branch at MARTA

  • Senior Auditor at Norfolk Southern Railway

  • Bank Examiner at the Federal Reserve Bank of Atlanta.  


He has been a volunteer seminar instructor for the Institute of Internal Auditors. Some of the courses taught included: 


  • Writing Effective Audit Reports

  • Tools and Techniques for the Beginning Auditor

  • Communication Skills for Auditors

  • Leadership Skills for the Auditor-In-Charge

  • Audit Project Management

  • CIA Review Course


He currently teaches audit webinars, including:


  • Writing Effective Audit Observations

  • Putting the Quality in Audit Reports

  • What it Takes to be the Auditor-In-Charge

  • Assessing Risk and Evaluating Controls

  • Report Writing Techniques for Audit Professional


He has been published three times in the IIA Magazine’s “Back to Basics” section.


He has a degree in Economics from Clark Atlanta University.  His certifications include Certified Internal Auditor (CIA), Certified Fraud Examiner (CFE), and Certified Government Auditing Professional (CGAP).

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

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Write Effective Audit Observations

$15

1.5 Credits

Subject Area

Auditing

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