The key to writing an effective audit observation is having a comprehensive structured process. The Institute of Internal Auditors recommends a process known as the 5Cs:
- Criteria
- Condition
- Cause
- Consequences (Effect)
- Corrective Action (Recommendation)
As you develop conclusions, findings, and recommendations, you must present them to your client in a logical, complete, and objective way. This process provides an easy way to consistently develop and present your observations. The components of this process include all the information you will need to inform and persuade.
Developing this process can be an important tool for completing and reporting observations in a timely and comprehensive way. It allows you to present those findings to your reader in a logical, complete, and objective manner and, thus, enhances the chances of the client’s buy-in and their agreement to your recommendations.
This process can also serve as a basis for review by supervisors and managers. It is supported by your work papers and gives complete and clear details of your analysis and the basis for your findings.
WHY SHOULD YOU ATTEND?
Audit observation is the most important part of an audit report. It represents the end result of weeks of reviews, analyses, interviews, and discussions. It is used to bring significant issues to their attention that need to be addressed. How well you communicate that information is critical to influencing the readers and getting the results you are seeking. A well-written audit observation will capture the readers’ attention and focus them on the important issues in the report that need to be addressed. A well-written audit observation adds value to your clients by providing:
- Concise, understandable, and persuasive observations
- Actionable recommendations
AREA COVERED
Review of the following recommended observation standards in detail:
- Criteria (Standard used for comparison of area under review).
- Condition (Current status used in the comparison).
- Cause (Reason that the Condition does not meet the Criteria).
- Consequence (Risk if not corrected).
- Corrective Actions (Actions needed to manage the risk).
Examples for each component will be additionally covered.
LEARNING OBJECTIVES
This webinar will provide the basic principles for writing effective audit observations. The audit observations represent the result of weeks of reviews, analyses, interviews, and discussions. It is used to provide important information to management on the area you reviewed. And, more importantly, it provides details to management on significant issues that need to be addressed. How well you communicate that information is critical to getting management’s acceptance of your findings and their agreement with your recommendations. Ultimately, this demonstrates the value you add to the company and enhances your chances for promotions and greater salary increases. After completing this program, participants will be able to understand the five components of an effective audit observation:
- Criteria (Standard used for comparison of area under review).
- Condition (What is being done).
- Cause (Reason that the Condition is not consistent with the Criteria).
- Consequence (Risks if not corrected).
- Corrective Actions (Action needed to correct the problem).
WHO WILL BENEFIT?
- Chief Audit Executives
- Audit Directors
- Audit Supervisors
- Audit Managers
- Staff Auditors
- Government Auditors
- Compliance Auditors
- Internal Control Specialists
- Public Accountants
- Accounting Analysts
- Business Analysts
- Quality Control Specialists
Audit observation is the most important part of an audit report. It represents the end result of weeks of reviews, analyses, interviews, and discussions. It is used to bring significant issues to their attention that need to be addressed. How well you communicate that information is critical to influencing the readers and getting the results you are seeking. A well-written audit observation will capture the readers’ attention and focus them on the important issues in the report that need to be addressed. A well-written audit observation adds value to your clients by providing:
- Concise, understandable, and persuasive observations
- Actionable recommendations
Review of the following recommended observation standards in detail:
- Criteria (Standard used for comparison of area under review).
- Condition (Current status used in the comparison).
- Cause (Reason that the Condition does not meet the Criteria).
- Consequence (Risk if not corrected).
- Corrective Actions (Actions needed to manage the risk).
Examples for each component will be additionally covered.
This webinar will provide the basic principles for writing effective audit observations. The audit observations represent the result of weeks of reviews, analyses, interviews, and discussions. It is used to provide important information to management on the area you reviewed. And, more importantly, it provides details to management on significant issues that need to be addressed. How well you communicate that information is critical to getting management’s acceptance of your findings and their agreement with your recommendations. Ultimately, this demonstrates the value you add to the company and enhances your chances for promotions and greater salary increases. After completing this program, participants will be able to understand the five components of an effective audit observation:
- Criteria (Standard used for comparison of area under review).
- Condition (What is being done).
- Cause (Reason that the Condition is not consistent with the Criteria).
- Consequence (Risks if not corrected).
- Corrective Actions (Action needed to correct the problem).
- Chief Audit Executives
- Audit Directors
- Audit Supervisors
- Audit Managers
- Staff Auditors
- Government Auditors
- Compliance Auditors
- Internal Control Specialists
- Public Accountants
- Accounting Analysts
- Business Analysts
- Quality Control Specialists
Speaker Profile
Jonnie Keith has been in auditing for over 50 years. He retired in 2012 as the Assistant General Manager (AGM) of Internal Audit with the Metropolitan Atlanta Rapid Transit Authority (MARTA) in Atlanta, Ga. He served in that capacity for over 10 years and was responsible for administering the overall audit activities. In this position, he was also responsible for the review and approval of all internal audit correspondence including audit reports, executive summaries, internal and external correspondence, etc.Prior to that, he worked at MARTA as the Operational Audit Manager and Senior Contract Compliance Auditor. He also worked at Norfolk …
Upcoming Webinars
Understanding and Analyzing Financial Statements
Onboarding is Not Orientation: How to Improve Your New Hire…
Managing Toxic & Other Employees Who have Attitude Issues
Do's and Don'ts of Documenting Employee Behaviour, Performa…
Gossip-Free: Leadership Techniques to Quell Office Chatter
Outlook - Master your Mailbox - Inbox Hero Inbox Zero
Harassment, Bullying, Gossip, Confrontational and Disruptiv…
Excel & ChatGPT Synergy Masterclass: Unleashing Financial A…
Introduction to Microsoft Power BI Dashboards
Drive Recruiting Success with the Using Recruiting Metrics …
2025 EEOC & Employers: Investigating Claims of Harassment …
Impact Assessments For Supplier Change Notices
Mastering Job Descriptions: Legal and Practical Insights fo…
Effective Onboarding: How to Welcome, Engage, and Retain Ne…
What is in Store for Employers When Updating Employee Handb…
Designing Employee Experiences to Build a Culture of Compli…
Onboarding Best Practices for 2025: Proven Strategies to Po…
Accounting For Non Accountants : Debit, Credits And Financi…
Creating a Successful Job Rotation Program
The Anti-Kickback Statute: Enforcement and Recent Updates
FDA Compliance And Laboratory Computer System Validation
How To Create Psychological Safety in your Organization
Aligning Your HR Strategy with Your Business Strategy
Transforming Anger And Conflict Into Collaborative Problem …
How to Give Corrective Feedback: The CARE Model - Eliminati…
I-9 Audits: Strengthening Your Immigration Compliance Strat…
Zero Acceptance Sampling to Reduce Inspection Costs
Identifying, Managing, and Retaining High Potential Employe…
AI at Your Service: Enhancing Your Microsoft OfficeSkills w…
Why EBITDA Doesn't Spell Cash Flow and What Does
FDA Recommendations for Artificial Intelligence/Machine Lea…
Project Management for Non-Project Managers - How to commun…
Dealing With Difficult People In Life & Work
Developing and Implementing Quality Culture in the Organiza…
2-Hour Virtual Seminar on the 6 Most Common Problems in FDA…
Enhancing Pivot Tables with Images: Visualize Your Data Lik…
How to Write Effective Audit Observations: The Principles f…
How to Write Contracts for Procurement Professionals
Uplifting the Credibility of HR: How to Build the Credibili…
Strategic Interviewing & Selection: Getting the Right Talen…
Performance of Root Cause Analysis, CAPA, and Effectiveness…
FDA Audit Best Practices - Do's and Don'ts
Unlock Employee Loyalty: Stay Interviews Will Keep Them Eng…
How to Manage the Legal Landmine of the FMLA, ADA and Worke…
Excel Lookup Functions: VLOOKUP, HLOOKUP, and XLOOKUP Made …