Audit Manual - Core Treasury System Uttarakhand

Government of Uttarakhand
Audit Manual
5 Winding up & reporting
This is the last phase of an audit where the auditors interact extensively with the auditee. Based
on the issues developed during the execution stage the auditors prepare a draft report and issue
it to the auditees. Exit meeting is organized thereafter with the auditees to discuss the audit
findings and understand the actions that the department. proposes to take in that respect. The
activities in this phase can be classified as:
• Report Writing
• Exit Meeting (Raising and Pursuance of Audit Observations)
• Settlement of Audit Observations
• Follow up of audit reports
a) Draft Audit Report
An Audit report is a written document, which is responsible for formally communicating the
results of the audit to the management.
Reporting timelines
Given below is a recommended audit completion time line, which spans across 4 weeks
during which the audit formalities are expected to conclude:
• Exit meeting with the department head should ideally be held on the last day of the
audit/fieldwork to facilitate follow-ups required, if any.
• The draft report based on the discussions with the auditee should be issued within 2
weeks time of the exit meeting
• The auditee department should be asked to provide its written comments within a period
of 1 week of receiving the draft reports
• Efforts shall be made to ensure that the final report is issued within a week‘s time from
the date of receipt of the auditee comments.
Reporting format
The purpose/objective of this section is to define the format of the Audit reports. This
procedure also provides guidelines regarding report writing, and report characteristics.
While reading this section the auditors should remember that the quality of observations and
the manner of reporting significantly affect perceptions about the audit function. The Report
format should include the following headings:
• Observation:
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