Thread Options
|
#85264 - 06/04/03 05:31 PM
Re: Language in a audit write-up
|
Anonymous
Unregistered
|
I would try using:
"We suggest that....
"We recommend that....
"Management should consider.....
"We feel that controls over...should be strengthened to incorporate..
"Management needs to implement....
Sometimes you just have to repeat phrases for lack of a suitable alternative.
|
Return to Top
|
|
|
|
#85266 - 06/04/03 06:36 PM
Re: Language in a audit write-up
|
Gold Star
Joined: Jul 2002
Posts: 338
Hell's Canyon
|
I try to stay away from telling others how to fix something. You can say "XX" is a problem that needs to be addressed, internal controls need to be strenghtened for the problem, procedures are weak or missing for the problem, regulations state "XX" needs to be done, etc. I don't know if this is the right way to do it, but that way I don't get many arguments and I'm often asked to help research the best solution.
_________________________
Wendy LaVoie
|
Return to Top
|
|
|
|
#85267 - 06/04/03 06:44 PM
Re: Language in a audit write-up
|
100 Club
Joined: Aug 2002
Posts: 167
FL
|
I have two sections to my reports. The first(Findings) states the material findings noted during the audit and the second is the(Recommendation) section which lists recommendations. I used to lump it all together but split it out about a year and a half ago and the Audit committee and managers like it that way. Sometimes lumping everything together can make the audit not look as good as it was.
_________________________
Enjoy life!
|
Return to Top
|
|
|
|
#85269 - 06/04/03 09:20 PM
Re: Language in a audit write-up
|
Diamond Poster
Joined: Jul 2002
Posts: 1,722
Oklahoma
|
Quote:
For some reason, that irks me.
Yup, me too.
|
Return to Top
|
|
|
|
#85271 - 06/04/03 10:21 PM
Re: Language in a audit write-up
|
100 Club
Joined: May 2003
Posts: 127
Heartland
|
What if you state what you find, state the "perfect solution," then let the audit committee decide what changes to make? They'll probably choose something in the middle, but at least you've given them the facts. Isn't that what they want?
_________________________
"Everything that irritates us about others can lead us to an understanding of ourselves." Carl Jung
|
Return to Top
|
|
|
|
#85272 - 06/05/03 02:50 PM
Re: Language in a audit write-up
|
Diamond Poster
Joined: Jul 2002
Posts: 1,722
Oklahoma
|
Quote:
Perhaps you are obligation to make recommendations, but if not I would leave the whole thing up to management.
Yes, it is my responsibility to make recommendations to management for corrective actions.
I do appreciate all of these good responses. It is really enlightening to see all the various methods that internal auditors use to communicate their findings. I have made some modifications here and there and I think it turned out okay. Well will see once it is presented....
|
Return to Top
|
|
|
|
#85273 - 06/05/03 02:57 PM
Re: Language in a audit write-up
|
Gold Star
Joined: Dec 2001
Posts: 292
New England
|
I characterize my findings as problems, needs, or opportunities. The recommendations are called solutions. It is understood that these are not mandates from internal audit. These solutions often have been discussed with management during the audit and agreed upon then. When violations of laws and regulations are involved, I will cite the requirements of the laws or regulations to support the recommendations.
If I conclude that a solution offered in management's response does not solve the problem, I will discuss with management. If this disagreement is not resolved, then I note it in the report and bring it to the audit committee for resolution.
_________________________
My opinions are not legal advice, not my employer's, and may change anytime.
|
Return to Top
|
|
|
|
#85274 - 06/05/03 03:05 PM
Re: Language in a audit write-up
|
Platinum Poster
Joined: Jan 2003
Posts: 580
|
Quote:
I characterize my findings as problems, needs, or opportunities. The recommendations are called solutions. It is understood that these are not mandates from internal audit. These solutions often have been discussed with management during the audit and agreed upon then. When violations of laws and regulations are involved, I will cite the requirements of the laws or regulations to support the recommendations.
Now that is a great way to satify the needs of auditors and management. Everyone gets to feel like it's a document to move the bank forward, versus simply assessing the past. It's like a SWOT exercise in the auditing world!
|
Return to Top
|
|
|
|
#85275 - 06/05/03 03:06 PM
Re: Language in a audit write-up
|
Diamond Poster
Joined: Jan 2003
Posts: 1,454
metsuretsu
|
I use a comment sheet to list my findings and include my recommendations as such on the cover sheet. I have stressed to those who receive my completed audit reports, recommendations are just that. If they do not agree, they are entitled to their opinion. However, I must say that if they do not explain their opinion to me in a way which results in my withdrawal of the recommendation (or at least acceptance of their reasons not to take my recommendation), they will most likely see it again on the next audit report.
I am not meaning this as a "my way or the higway" statement, but more of a "we can't not include something in a disclosure, etc. just because it makes our job easier" statement.
_________________________
I have many opinions; some are good, some are bad, and some don't contradict.
|
Return to Top
|
|
|
|
#85280 - 07/21/03 03:35 PM
Re: Language in a audit write-up
|
Diamond Poster
Joined: Jul 2002
Posts: 1,722
Oklahoma
|
Quote:
I like to suggest the benefits of following my recommendations. Phrases such as "Fraud risk will be reduced by (taking the recommended action)" are better than "You should (take the recommended action)."
Thats a good idea. Thanks.
|
Return to Top
|
|
|
|
|
|