Audit Report Preparation Template

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Efficiently plan, organize, and execute tasks related to audit report preparation with this comprehensive template. Ensure a smooth and error-free process from defining the audit scope to presenting the final report. This template helps you manage all critical steps, leading to thorough and accurate audit reports that enhance client satisfaction and trust.

By following this step-by-step guide, you can streamline your audit report preparation process, improve accuracy, and deliver high-quality reports on time.

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Audit Report Preparation Template for Priority Matrix

Audit Report Preparation Template in Priority Matrix

Streamline your audit report preparation process for accuracy and efficiency.

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Proposed Tasks

Critical & Immediate

  • Define Scope of Audit due in 1 day
    ☐ Identify the audit objectives ☐ Determine the audit period ☐ Identify the departments/sections to be audited
  • Develop Audit Plan due in 1 week
    ☐ Outline the audit procedures ☐ Identify the resources required ☐ Develop a timeline for audit activities
  • Prepare Draft Report due in 5 weeks
    ☐ Summarize the audit findings ☐ Recommend corrective actions
  • Review Draft Report due in 6 weeks
    ☐ Check for errors and inconsistencies ☐ Ensure all findings are supported by evidence
  • Finalize Audit Report due in 7 weeks
    ☐ Make necessary corrections to the draft ☐ Prepare the final report
  • Present Audit Report due in 8 weeks
    ☐ Present the report to the management ☐ Discuss the findings and recommendations

Critical & Time-Consuming

  • Conduct Preliminary Review due in 2 weeks
    ☐ Review the company's financial statements ☐ Identify potential areas of concern
  • Perform Fieldwork due in 3 weeks
    ☐ Collect and analyze data ☐ Interview staff ☐ Perform physical inspections
  • Review Findings due in 4 weeks
    ☐ Evaluate the evidence collected ☐ Identify any discrepancies or issues

Less Critical & Immediate

  • Assemble Audit Team due in 1 week
    ☐ Select team members with relevant expertise ☐ Assign roles and responsibilities
  • Follow Up on Audit Recommendations due in 10 weeks
    ☐ Monitor the implementation of the audit recommendations ☐ Provide necessary support and guidance

Less Critical & Time-Consuming

  • Document Audit Process due in 11 weeks
    ☐ Record all audit procedures and findings ☐ Maintain a record for future reference
  • Review Audit Process due in 12 weeks
    ☐ Assess the effectiveness of the audit process ☐ Identify areas for improvement
  • Plan for Next Audit due in 13 weeks
    ☐ Use the lessons learned to plan for the next audit