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Audit Report Template

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Audit Report Template Page 2
Audit Report Template
Cash Controls Audit
EXECUTIVE SUMMARY
Office of Internal Audit 1
BACKGROUND
Your Health Care System (YHCS) cashiers accept cash for services provided at each facility. On a daily basis
over $50,000 is collected by cashiers at 20 different locations.
SCOPE
The scope of the audit includes:
Cash handling processes in the cashier’s office
Transactions for the six month period ended June 30, 2006
OBJECTIVES AND RESULTS
The audit evaluated the adequacy of controls and processes to achieve key business objectives as it related to
cashiers receiving payments. Following are the business objectives and related control assessment (Satisfactory,
Needs Improvement, Unsatisfactory) and a summary of good and weak controls noted in the audit.
Business Objective
Control Assessment
Safeguard cash collections
Satisfactory
Make timely deposits of daily collections
Needs Improvement
Maximize point of service collections by cashiers
Unsatisfactory
-Control Summary
Good Controls
Weak Controls
Daily cash receipts are stored in a locked safe in
the main cash office. (Obj. 1)
Keys to the cash office safe are maintained on the
cashiers’ wrist or in a locked drawer. (Obj. 1)
A bonded courier service picks of daily cash
receipts everyday for the company bank. (Obj. 2)
Daily cash receipts in one office are deposited
weekly instead of daily. Cash on hand was
minimal. (Obj. 2)
Cash collection goals were below established
thresholds for the last three quarters. Cash office
employees were not knowledgeable of point of
service procedures for attempting to collect
amounts due on the date of service. (Obj. 3)
There were no controls in place to ensure cashiers
attempted to collected payment when services
were provided. (Obj. 3)
OBSERVATIONS AND ACTION PLAN
Following is a table detailing all the observations from the audit along with management’s action plan to address
these issues.
Audit Report Template