An audit report is derived by a careful audit of a department, section, or any required field within the organization where a quality check is required. In an audit report, all the measures are analyzed and then final verdicts are quoted on the quality/ accuracy of the project or specific domain.
There are various types of audits which are discussed as follows;
This is the most commonly used reporting structure that runs in almost every organization where the company’s financial reporting is done which includes a detailed description of all inflows and outflows of finances within the organization. Auditors track and check the balance in the finances and figure out the differences.
This audit takes place when a team of auditors is formulated to make sure that all the operations are being dealt with equal opportunity for all the existing employees or not. And if there is any flaw in the assembling of operational tasks those are highlighted in this report.
Compliance audit takes care of overall company laws, rules and procedures. If they are been taken for granted then strict action is taken after the report generation. Auditors cover all the aspects of a report and cover all the compliance heads in this section from behavioral attributes to the main work ethics labeled with the labor laws.
This report is generated and asked by company heads for auditors to work on it when there is a severe breach of law on the organizational level or there is any doubt in the compliance, rules, and regulations of the organization then auditors are asked to investigate the matter with facts and then prepare a report on it.
The basic purpose of all audit reports is the following;