>From: "Moulton, Philip" <[EMAIL PROTECTED]> > >Welcome David to the internal auditing profession. > >Like yourself and Travis, I also came from a public accounting background >and this is an issue I struggled with about 2 years ago when "I saw the >light"! I concur with comments from Travis below and would add that I think >it is important that you tailor your reports to your audience. I do however >include a page entitled "Audit Certification" which sets out the basis of >the work and the inherent limitations of any internal control structure. I >think these are necessary to put the work in the appropriate context. I >cover the objectives, scope and work performed, timing of >transactions/controls under audit in the first 2 pages of the report >utilising graphics etc. I think you would find the report format set out in >Andersen's Knowledgespace website helpful as a starting point in this >regard. > >On the issue of the audit certification page, I include and sign off a >statement as follows: > >Scope > >In addition to the scope of work detailed in section 1.1 of this report, we >advise that our audit has been conducted in accordance with the Standards >for the Professional Practice of Internal Auditing and accordingly included >such tests and procedures as we considered necessary in the circumstances. >These procedures have been undertaken to form an opinion whether in all >material respects, the matters referred to in section 1.2 are subject to a >reasonable level of assurance. > >Inherent limitations > >Because of the inherent limitations of any internal control structure it is >possible that errors or irregularities may occur and not be detected. > >An audit is not designed to detect all weaknesses in control procedures as >it is not performed continuously throughout the period and the tests >performed are on a sample basis. > >Any projection of the evaluation of control procedures to future periods is >subject to the risk that the procedures may become inadequate because of >changes in conditions, or that the degree of compliance with them may >deteriorate. > >I would be interested to know what other members think. > >Regards > >Phil Moulton CA CIA >Business Audit Services Manager >Pauls Limited >Brisbane Australia > > -----Original Message----- > > From: Jim Kaplan [SMTP:[EMAIL PROTECTED]] > > Sent: Wednesday, 26 September 2001 7:19 > > To: [EMAIL PROTECTED] > > Subject: Re: Internal Auditors' Report > > > > If this is your first issue of the AuditNet-l, and you are > > not sure how you got on this list, there are only two ways. > > One is to submit a subscription request from the AuditNet > > site; the other is by subscribing directly to the majordomo > > listserv. If you do not want to continue to receive > > AuditNet-l, just follow the simple instructions at the end of > > this message, but if you are interested in staying on the > > cutting edge of Audit resources news then give AuditNet-l a > > chance!Audit-l subscribers, > > > > Here is a response posted from the CISACA-L. I am posting it here for the > > > > benefit of audit-l subscribers. > > > > X-Authentication-Warning: scribe.cc.purdue.edu: majordomo set sender to > > [EMAIL PROTECTED] using -f > > Date: Tue, 25 Sep 2001 17:25:47 -0500 > > From: "Travis Martin" <[EMAIL PROTECTED]> > > X-Mailer: Mozilla 4.61 [en] (WinNT; U) > > X-Accept-Language: en > > To: "Carlsen David" <[EMAIL PROTECTED]> > > Cc: "Cisaca (E-mail)" <[EMAIL PROTECTED]> > > Subject: Re: Internal Auditors' Reports > > Sender: [EMAIL PROTECTED] > > > > David, > > The IIA provides guidance on communicating audit results. See section 430 > > Communicating Results. > > http://www.theiia.org/ecm/guide-frame.cfm?doc_id=1321. > > I to started my career in public accounting. When I first started as an > > internal auditor I wrote my report similar to an audit report on financial > > > > statements required in public accounting (canned report with different > > findings for each audit). For example, I would have in every report "This > > audit was performed in accordance to The Standards of Professional > > Practice > > of Internal Auditing". I quickly found out that my internal customers do > > not care whether or not I performed our audit in accordance to standards. > > Although similar verbiage is required in public accounting it is not > > required for internal audit reports. The customer wants to know how my > > recommendations will make him or her successful in accomplishing their > > goals and objectives. The most value added approach to audit report > > writing > > I found is to have the philosophy that no audit report is the same. In > > other words, all my audit reports take different forms in terms of layout > > and content. I still write my report within auditing standards (above), > > but > > these standards are designed to provide general guidance and do not > > dictate > > specific form and content. Some things I consider for audit report writing > > > > are: who is my customer (who is the intended reader of the report: > > President, VP, department head, manage, several readers, etc.) , what are > > their expectations of the audit, what is their expectations of the > > deliverable (i.e. does the customer want a formal report, memo style, > > formal, informal, power point presentation, etc.), what type of engagement > > > > is it (i.e. compliance, consulting, financial, operational, etc.). > > Hope this helps. Thanks, Travis > > > > > > At 01:03 PM 9/25/01 -0400, Carlsen, David wrote: > > > > >I am a CPA that has recently joined the ranks of the internal auditing > > >profession. I am looking for example opinions for internal audit > > >reports. Through the IIA, I have located wording for reports that issue > > >an opinion on the overall effectiveness of internal controls (via the > > >Research Foundation's "Management Reporting on Internal > > >Control.") However, I am looking for opinion wording for each internal > > >audit that is performed rather an opinion for a summary of controls. As > > I > > >have said, I am new to the profession and have not sat or studied for the > > > > >CIA as of yet. Can anyone point me in the right direction if such > > >standard opinions do in fact exist? Per review of other books published > > >by the IIA, I have seen the following: "Report Writing for Internal > > >Auditors", "Writing Effective Audit Reports," and "Internal Audit > > >Report." Does anyone out there have any opinions on these tools? > > > > > >Thanks, > > >David > > > > To unsubscribe from AuditNet-l put"unsubscribe AuditNet-L" "yourname" in > > the BODY of an email to:[EMAIL PROTECTED] Note: If you are > > changing your email address you should unsubscribe using the old e-mail > > address and resubscribe using the new e-mail address. The opinions > > expressed here are purely those of the editor, Jim Kaplan. If you have > > comments or suggestions for AuditNet please send email to > > [EMAIL PROTECTED] > > >+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ >Due to the insecure nature of e-mail communication via the internet, >you are advised that material which may offend or infringe individual >rights may be transmitted without the knowledge or consent of Pauls >Limited or its subsidiaries. Accordingly, whilst Pauls Limited has >taken reasonable steps to ensure the integrity of such >communications, it accepts no liability for material transmitted via >this medium. > >This e-mail and any files transmitted with it are confidential and >are intended solely for the use of the individual or entity to whom >it is addressed. If you are not the intended recipient or the person >responsible for delivering it to the intended recipient, you are >hereby advised that you have received this e-mail in error and that >any use, (dissemination, forwarding, or dealing with printing, or >copying of) this e-mail and file attachments is strictly prohibited. >If you have received this e-mail in error, please contact Pauls >Limited +61 7 3840 0100 or by reply e-mail to the sender. You must >destroy the original transmission and its contents. You will be >reimbursed for reasonable costs incurred in notifying us. >+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
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