Internal Audit Consultant Brief

Prepared by [YOUR NAME]

Executive Summary

This brief is designed as a roadmap for the upcoming internal audit for outlining the objectives, scope, timelines, resources required, and reporting requirements. The audit team members need to use this as a guide to effectively prepare for, execute, and conclude the audit. The specific instructions and expectations towards the team members are also clear within this document.

Audit Objectives and Criteria

The audit's main objectives are to evaluate the effectiveness, efficiency, and compliance of the company's existing internal controls and procedures. The audit will use the following criteria in its assessment:

1. Compliance with company policies and procedures.

2. Legitimacy and validity of financial transactions.

3. Protection of company assets.

4. Reliability and accuracy of financial reports.

5. Cost-effectiveness of operations.

Scope of Work

The audit will cover all internal operations, including the following:

• Financial operations, systems, and reports.

• Administrative procedures.

• Human resources management.

• Information technology systems.

• Production and operational processes.

The audit may extend or limit its scope, as deemed necessary, providing prior notice.

Timelines

Phase	Timeline
Planning	One week
Fieldwork	Three weeks
Reporting	One week
Follow-up	One week

Resources Required

The following resources will be required:

• Access to all relevant systems, documents, and personnel.

• A workspace for the audit team.

• A designated point of contact from the company.

Reporting Requirements

The audit team will prepare and furnish the following reports:

• Audit work papers and notes.

• Interim reports.

• Final audit report, including findings, recommendations, and management responses.

Instructions and expectations for the audit team

The audit team is expected to comply with the highest professional and ethical standards during the audit. Instructions include:

• Collaborating and maintaining professionalism with all company personnel.

• Keeping all company information confidential.

• Adhering strictly to the audit timelines.

• Reporting any significant findings or difficulties encountered immediately.

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