Audit Management Terminology Guide

Audit Approver

The individual(s) responsible for approving an audit.

Auditor

The individual(s) responsible for performing and completing an audit.

Audit

A project that holds in-scope workpapers and findings that are documented as part of the audit.

Control Implementations

Controls that have been created against inventories (assets, entities, processing activities, vendors)

Controls

The requirements used by process owners to insure organizational adherence to the policies, standards, and frameworks. Controls are used to define requirements which are put into place to avoid risks, errors, or to define measures that will take place if an error or risk is found.

End Date

The date by which the audit must be completed.

Finding Action Plan

The plan to mitigate the issue and/or compliance gap going forward that was identified by an auditor.

Finding Type

The specific finding type. Current options include - Major Finding, Minor Finding, Non-Conformity, or Opportunity for Improvement. These can be customized based on your needs.

Findings

An issue and/or compliance gap identified by an auditor on the audit or workpaper.

Interview Result

The interview result of the workpaper. Can be used to document control test of design.

Sampling Result

The sampling result of the workpaper. Can be used to document sampling methodology and approach.

Scope

The list of controls that are associated with the audit during creation. Each control generates a workpaper.

Standard / Framework

The standard or framework with which audits are associated with.

Start Date

The date in which the audit was started.

Statement / Goal

The goal or purpose of the audit.

Testing Result

The testing result of the control. Can be used to document test of effectiveness.

Workpaper

A central location to document control testing results. Auditors can collect evidence and manage control testing collaboration and tasks on workpapers.