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Internal Audit

D1 – Potential Issues List

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About this template

I call it the “Golden Thread”… it’s the line which links our scoping document to our work program, our work program to our workpapers, and our workpapers to our potential issues list. Eventually, everything should link back to the final report. In effect, anyone wanting to review this audit file should be able to follow what we have done, what the results were, and how this links to the final report.

Why use this template

This template helps bring together all the individual issues identified throughout the review. The template has been designed so that each issues references back to the relevant workpaper. Additionally, the document can be copied and pasted and ready for use in the findings and actions workshop. Ultimately, this document acts as a ‘binder’, helping to link the workpapers to the final report.

When to use this template

This template should be updated throughout the audit process. By keeping this document up to date throughout the audit, it will ensure that all items are included in the final report, and all workpapers are completed.

Things to be careful about

Particularly in the reporting stages of the audit, it is common to receive new or additional information, or the findings in the draft report merged together to keep a more logical and meaningful report. As such, its easy for the potential issues list document to become outdated. The audit team should take care and ensure that the Potential Issues List is kept up to date as it essentially links your report to your workpapers and is critical should someone ever need to reperform our audit work.

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