The Sample - What Goes in Audit Findings?
In this episode of THE SAMPLE, Leita Hart-Fanta, CPA answers the question What Goes in Audit Findings?
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Welcome to The Sample, a quick discussion of auditing concepts and terms that will help you do your work. Conducting an audit in accordance with auditing standards is no small feat and I want to support you. We'll be referring to the GAO (https://www.gao.gov), IIA (https://na.theiia.org/Pages/IIAHome.aspx) and AICPA (https://www.aicpa.org) literature to bolster our conversations. Let's get started.
In this episode, we answer the question, "What goes in audit findings?" Well, the IIA (the Institute of Internal Auditors), the GAO (Government Accountability Office and The Yellow Book), and the single audit requirements in The Uniform Guidance ask that you answer five basic questions for the reader. Maybe I should say six because there's two recommendations, as I will show you in a minute.
The condition answers the question, "What's going on here; what's the problem?" The effect sells the finding; it makes people care about what they're reading. The cause answers the question, "Why (or how) did this condition occur?" The criteria refers to an authoritative document, like a law / regulation / contract / grant agreement, where it's clearly spelled out, "We hope that this condition is not acceptable." And then we have two recommendations: one that resolves the condition, and one that resolves the cause, because we brought up two problems.
Read the rest at: https://yellowbook-cpe.com/what-goes-...
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