Audit Reports

Formal audit reports are issued on all audit engagements. The reports are designed to:

• Identify control weaknesses noted during audit engagements
• Explain financial risks that result from control weaknesses
• Present alternative procedures to correct deficiencies
  

The reports include auditee responses. The audit report is typically divided into the following sections:

• Audit Scope and Objectives
• Audit Procedures
• Audit Findings & Recommendations