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The Formal Audit Report May Be Presented in Various Formats

Question 54

Short Answer

The formal audit report may be presented in various formats but should,at a minimum,contain comments on a number of points.Match each of the points below with its description.
A)Current status of the project
B)Risk assessment
C)Information pertinent to other projects
D)Limitations of the audit
1)What assumptions or limitations affect the data in the audit?
2)Does the work actually completed match the planned level of completion?
3)What is the potential for project failure or monetary loss?
4)What lessons learned from the project being audited can be applied to other projects being undertaken by the organization?

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