Auditing, as per definition, is the act of conducting a review on an organization’s financial standing, policies, methods, and practices. Audits come in many forms, with matters tied to finances being the most common. Audits are also performed periodically to help organizations improve existing policies and practices, and, to solve problems before they become worse. The word audit has its origins from the Latin word “Audire”, which means, “to hear.” Audits are first employed by Mesopotamians to check public accounts and to prevent fraud and corruption among public officials.
What is an Audit Report Form?
An Audit Report Form is a report form used by auditors in conducting an audit. This form is where auditors input their findings on when manually inspecting and checking an organization’s existing controls, policies, equipment, and processes. Audit Report Forms come in many varieties, depending on the kinds of audits performed.
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1. Technical Audit Report Form
2. Generic Audit Report Form
3. Semi-Annual Audit Report Form
4. Education Audit Report Form
5. Corporate Audit Report Form
6. Final Audit Report Form
7. Presentation Audit Report
8. Financial Audit Report Form
9. Safety Audit Report Form
10. Internal Audit Report Form
11. Simple Audit Report Form
12. Audit Credit Report Form
Types of Audit Report Forms
Audit Report Forms are used by businesses, organizations and institutions, both private and public, to perform audits. Audits are done in order to check, maintain and improve existing equipment, policies and processes. This is to ensure that businesses, organizations and institutions function properly and well. These forms come in many varieties, with each serving a specific purpose according to the nature of the audit performed. Listed below are the types of Audit Report Forms.
1. Technical Audit Report
Technical Audits are done in order to maintaing or improve a company’s optimum performance. These are done in to ensure that processes and quality are up to standards. Technical Audit Reports are used widely by companies that are heavily involved in manufacturing. Technical Audit Reports contain all the findings from the audit performed. Those finding are then used to improve or maintain existing quality standards, processes, and guidelines.
2. Internal Audit Report
Internal Audits are done to ensure that staff and employees perform within an organization’s existing rules and regulations. These are done to prevent fraud, malpractice, and misconduct among staff and employees. Such audits are widely perfromed by organizations and institutions, both private and public. Internal Audit Reports are forms used by auditors in performing Internal Audits.
3. Safety Audit Report
Safety Audits are done in order to maintain or improve safety standards, policies, equipment and skills in high-risk facilities and infrastructures such as factories, laboratories, food establishments, schools, and medical facilities. Safety Audit Reports are used to input an auditor’s findings while conducting a Safety Audit in a facility.
4. Financial Audit Report
Financial Audit are done to ascertain an organization’s financial standing. It also checks its cash flow process to spot problems and solve them before they become worse. This type of audit is the most commonly known form of audit. Financial Audits Reports are used to aid in the performance of an Financial Audit.
How to Write an Audit Report
Audit reports come in different forms. They range from safety audits, internal audits up to financial audits. Each audit serves a different purpose. However, despite the difference in purpose, every form of audits are done for the same objective. That is to check, inspect, fix, and improve existing policies, processes, and controls. Also, the process of how to write an audit report regardless of purpose is the same. Enumerated below are the steps on how to write an Audit Report Form
Step 1. Gather all Needed Documents
The first thing you should do when writing an audit report is to gather all the needed documents beforehand. The needed documents when writing an audit report are reports, financial statements, and evaluation forms. Each document contains all the information needed to be summarized in your audit report. Before putting them on your audit report, check and verify the accuracy of the information contained in each document.
Step 2. Download an Audit Report Template
Next, download an Audit Report Form Template after you’re done gathering all the documents that you need. Choose among a variety of Audit Report Form Templates listed in this article. Making use of ready-made templates allows you to be one step ahead in making an Audit Report Form. Plus, it saves you time and effort, therefore, allowing you to invest more time on other tasks such as inspecting and interviewing essential personnel.
Step 3. Edit the Audit Report Template
After choosing and downloading the Audit Report Form Template of your liking, you may now proceed in editing the template itself. To edit the template, write and list all the needed information from the documents that you’ve gathered beforehand. Also, make sure that every bit and piece of information that you’ll put in your audit report is as accurate as possible. This is to establish transparency in reporting your findings when conducting an audit.
Step 4. Print the Audit Report Form
Print the Audit Report Form after you’ve completely listed all your findings. Have your Audit Report Form printed using your office or home printer. The advantage of having a printed Audit Report Form is that a printed report has more credibility than an electronically submitted report. Plus, Audit Reports are required to be signed by the person conducting the audit. Also, it is wise to print a blank version of the Audit Report Form so that you’ll have a quick and handy tool when conducting an audit on site. If possible, print multiple copies of the Audit Report Form for future use.
Step 5. Submit the Audit Report Form
Submit the printed Audit Report Form to persons of authority such as those in the senior management for deliberation. The findings contained in the audit report will provide them a picture of the organization’s status and health. Also, it will allow them to make important decisions concerning the improvement and maintenance of the organization’s assets.
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