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  • Internal Audit Engagement Memo

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    Jane Pham
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    The internal audit team is planning an audit of [DEPARTMENT NAME] with objectives including reliability of financial and operational information, compliance with laws and regulations, safeguarding of assets, and effectiveness and efficiency of operations. The audit is scheduled to begin on [DATE] and take [NUMBER OF WEEKS] to complete. At the start of the audit, the team will meet with management to discuss objectives and get input. Management will need to provide certain documents by specified dates to assist the audit. Upon completion, audit results and potential recommendations will be discussed with management before an exit conference, after which a final report will be issued along with a request for management responses.

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    Memo to Internal Audit Engagement

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    The internal audit team is planning an audit of [DEPARTMENT NAME] with objectives including reliability of financial and operational information, compliance with laws and regulations, safeguarding of assets, and effectiveness and efficiency of operations. The audit is scheduled to begin on [DATE] and take [NUMBER OF WEEKS] to complete. At the start of the audit, the team will meet with management to discuss objectives and get input. Management will need to provide certain documents by specified dates to assist the audit. Upon completion, audit results and potential recommendations will be discussed with management before an exit conference, after which a final report will be issued along with a request for management responses.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    618 views2 pages

    Internal Audit Engagement Memo

    Uploaded by

    Jane Pham
    The internal audit team is planning an audit of [DEPARTMENT NAME] with objectives including reliability of financial and operational information, compliance with laws and regulations, safeguarding of assets, and effectiveness and efficiency of operations. The audit is scheduled to begin on [DATE] and take [NUMBER OF WEEKS] to complete. At the start of the audit, the team will meet with management to discuss objectives and get input. Management will need to provide certain documents by specified dates to assist the audit. Upon completion, audit results and potential recommendations will be discussed with management before an exit conference, after which a final report will be issued along with a request for management responses.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    of 2

    INTERNAL AUDIT ENGAGEMENT MEMO

    [DATE]
    [NAME, TITLE]
    [DEPARTMENT]
    [STREET ADDRESS]
    [CITY, STATE, ZIP]
    Dear [HEAD OF DEPARTMENT],
    The internal audit team is planning its audit for [DEPARTMENT NAME]. The objectives of this audit are:
    [LIST ACTUAL OBJECTIVES HERE]. For example:

    Reliability and integrity of financial and operational information

    Compliance with laws, regulations and contracts

    Safeguarding of assets

    Effectiveness and efficiency of operations of the [AUDIT AREA]

    To follow up on recommendations included in prior audit reports

    The proposed timetable for this year's audit is as follows:


    Start Date in the Field:

    [DATE]

    Estimated Weeks to Complete:

    [NUMBER OF WEEKS]

    The audit team will include the following members:

    [NAME], Manager

    [NAME], Staff Auditor

    [NAME], Staff Auditor

    At the beginning of our audit, we would like the opportunity to meet with you to discuss our audit
    objectives and solicit your input. Our goal is to perform an effective and efficient audit. We will need your
    staff to provide us the following documents and schedules by the specified dates:
    Documents/Schedules

    Date

    [DOCUMENT/SCHEDULE]

    [DATE]

    [DOCUMENT/SCHEDULE]

    [DATE]

    At the conclusion of our audit, we will discuss audit results and potential recommendations of the audited
    area with management before scheduling an exit conference with you. Prior to the exit conference, you
    will receive a draft audit report. After the exit conference, a final audit report will be delivered to you with a
    request for management's formal responses to include in the audit report.
    Our mission is to help you achieve [DEPARTMENT]s objectives by providing you with information about
    the effectiveness of internal controls and by recommending courses of action which improve performance.

    Source: www.knowledgeleader.com

    If you have any questions about this year's audit, please do not hesitate to call.
    Sincerely,
    [INTERNAL AUDIT DIRECTOR]

    Source: www.knowledgeleader.com

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