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CS Professional · Internal and Forensic Audit · Practices related to Internal Auditing

At the close of fieldwork at Ganga Logistics Ltd, the internal auditor discusses draft observations with the process owner before issuing the report. What is the main purpose of this discussion?

The purpose is to confirm that the facts in the draft observations are accurate and to agree on corrective actions with the process owner. The auditor remains independent over the conclusion, must still report significant findings, and must keep working papers as evidence.

  1. ATo confirm factual accuracy and agree on corrective actionsCorrect
  2. BTo let the process owner rewrite the audit opinion
  3. CTo avoid reporting any adverse findings
  4. DTo replace the need for working papers

Explanation

Exit discussions let management verify facts and agree on action plans, improving accuracy and acceptance. The auditor keeps independence over the opinion, must still report significant findings, and must retain working papers as support.

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