What are findings?
Audit findings are the format in which reportable conditions (including material weaknesses) are presented. A traditional finding is composed of four major elements: Criteria: Basis for identifying that a condition is an internal control weakness or instance of noncompliance. Condition: The internal control weakness or instance of noncompliance identified by the auditor. Cause: Explanation of why the weakness or noncompliance occurred. Effect: The negative effect that resulted or could result from the condition. Recommendation: The auditor’s assessment on how to improve the condition. Management Response: Management’s viewpoint of the findings. Follow-Up: The auditor’s review of management’s implementation of the recommendation.
Audit findings are the format in which reportable conditions (including material weaknesses) are presented. A traditional finding is composed of four major elements: Criteria: Basis for identifying that a condition is an internal control weakness or instance of noncompliance. Condition: The internal control weakness or instance of noncompliance identified by the auditor. Cause: Explanation of why the weakness or noncompliance occurred. Effect: The negative effect that resulted or could result from the condition. Recommendation: The auditor’s assessment on how to improve the condition. Management Response: Management’s viewpoint of the findings. Follow-Up: The auditor’s review of management’s implementation of the recommendation.
