Published: November, 2021
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 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:
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 workpapers 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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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Auditor, JonSherr Ent.
Mr. Keith has over 50 years of audit experience and served as the Chief Audit Executive for the Metropolitan Atlanta Rapid Transit Authority (MARTA) for 12 years before his retirement in 2012. His other audit experience includes serving as Operational Audit Manager for five years and was a Senior Auditor in the Contract Compliance Audit Branch at MARTA. He was also a Senior Auditor at Norfolk Southern Railway, and a Bank Examiner at the Federal Reserve Bank of Atlanta.
As the Chief Audit Executive for MARTA, he was responsible for administering the overall audit activities for the Department of Internal Audit including:
He was a volunteer seminar instructor for the Institute of Internal Auditors. Some of the courses taught included:
He has written three IIA Magazine articles including:
He has provided training for the Association of Certified Fraud Examiners Annual Conference:
He currently teaches audit webinars, including:
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).
Mr. Keith has been married over 50 years. He also co-authored a book with his wife on marriage entitled “Tied Together – The Marriage Trinity”. He has two daughters and five grandchildren.
Jan 19th, 2022
Where is the downloadable material mentioned in the course?