An audit report is the formal document an auditor issues after examining a business’s or agency’s records, controls or operations. It states what was reviewed and what was found and, in a financial audit, gives the auditor’s opinion on whether the statements are fairly presented. External auditors, internal audit teams, IT auditors and inspectors general produce them for boards, managers and regulators.
There are 30+ audit report templates here, free to download. They include an independent auditor’s report, an IT audit report, an inspector general report, a contracting audit and an annual audit report. Several come from public-sector bodies, so each works as an audit report example of finished, published work.
Write each finding in four parts: condition, criteria, cause and effect. Managers act faster on a finding laid out that way, and it holds up better under review.
Auditors and managers often use other report formats too. You can also check out our business report templates, income statement templates and balance sheet templates for the financial statements an audit reviews.
Standard Audit Report Templates
Ireland Audit Report Template
Auditor’s Report Template
IT Audit Report Template
IG Audit Report Template
Contracting Audit Report
City Berkeley Audit Report
Inspector General Audit Report
Annual Audit Report
London Audit Report Template
Legal Audit Report
Checklist Audit Report
Important Components of an Audit Report
An audit report must consist of the following important components:
1. Title:
This is the title of the audit report, which names the addressee of the report. The title must also include the date. The report is usually addressed to the board of directors (BOD) and shareholders of the company.
2. Introduction:
The report must include a separate introductory paragraph stating that the audit has been performed. It must also list the financial documents used in the audit and the time period the audit covers.
3. Scope:
The scope section must state that the audit was performed under GAAS, the Generally Accepted Auditing Standards. Here, the auditor must clearly state that the audit is carried out to provide reasonable assurance about whether the financial statements present a true and fair view.
4. Summary:
In this section, the auditor includes the elements of the audit that are most important to the company’s executives or decision makers. The summary also includes the auditor’s findings from the audit.
5. Auditor’s Opinion:
This section gives the auditor’s opinion on the company’s financial statements. The opinion must be clear and precise. The auditor must clearly state whether or not the financial statements present a true and fair view of the company, with no ambiguity. The different types of auditor’s opinions are explained below.
6. Auditor’s Name:
The auditor must write their name in the audit report to show that they are its author. If the auditor is a firm, the firm’s name should be written on the report.
7. Auditor’s Signatures:
At the end, the auditor must sign the audit report. If the auditor is a firm, the firm’s common seal must be affixed to the report, along with the signature of the audit partner signing it.
Sample Audit Report Templates
Procurement Audit Report
Audit Report
Clinical Audit Report Template
Prison Audit Report Template
Environmental Audit Report
European Audit Report
Air Quality Audit Report
Special Audit Report
eHealth Audit Report
Medical Research Audit Report
Food Act Audit Report
Types of Audit Opinions:
Following are some types of audit opinions:
1. Unqualified Opinion:
An unqualified opinion is given when the auditor determines that the company’s financial statements are prepared in accordance with the relevant accounting standards and present a true and fair view of all matters. An unqualified opinion is also known as a clean or positive opinion.
2. Qualified Opinion:
A qualified opinion is given when the auditor determines that the financial statements are free of material misstatement overall, except that certain matters are not prepared in accordance with the relevant accounting standards.
When an auditor gives a qualified opinion, they must include a separate section in the audit report explaining the reasons for the qualification.
3. Disclaimer of Opinion:
A disclaimer of opinion is given in rare cases, such as when financial records are missing or when the auditor is not allowed to access certain records or personnel. In these situations, the auditor issues a disclaimer of opinion, which means the auditor was unable to complete the audit.
4. Adverse Opinion:
An auditor usually gives an adverse opinion when the financial records provided are misrepresented or incomplete. This type of opinion has a very bad impact on the company, so the company should correct its financial statements and records and have them re-audited.
Audit Report Examples
College Audit Report Template
Audit Report Template
Factory Audit Report Template
Containment Audit Report
University Audit Report
Client Audit Report
Audit Report Template
Energy Audit Report Template
Shared Audit Report
Final Audit Report
Annex Audit Report Template
Structuring an Audit Report Around Evidence
Choose a report format suited to the audit type and audience. An internal process review and an independent financial audit have different objectives and reporting requirements.
- Define the objective, scope, criteria and period covered.
- Link findings to evidence and distinguish observations from conclusions.
- Agree appropriate responses, owners and follow-up arrangements without concealing disagreements.
Worked Example
Example: a sample of purchase orders lacks recorded approval in several cases. The finding should identify the criterion, sample and observed gap, then explain the supported consequence. It should not claim that every purchase was unauthorized or fraudulent when the evidence does not show that.
Common Mistakes to Avoid
Avoid inserting a sample audit opinion into a real report. Formal assurance conclusions require the appropriate work, competence and applicable standards.
Related Templates
- Feasibility Report Templates
- Technical Report Templates
- Industry Analysis Templates
- Consulting Report Templates
Frequently Asked Questions
Can this template create an audit opinion?
No. It organizes a document but does not perform an audit or establish that an assurance conclusion is justified.
What makes a finding actionable?
State the condition, relevant criterion, supporting evidence and effect, followed by a proportionate response and an accountable owner.
