Performance audit reports may vary significantly. However, the auditor is normally expected to disclose the standards that were followed and audit criteria applied in carrying out the performance audit. The auditor should provide an overall opinion on the achievement of economy, efficiency and effectiveness by an audited entity. In addition, the users of the report should be informed of any limitations to the audit, the circumstances and context to particular conclusion rather than a standardized statement. In summary, the audit report should include information about the: audit objective, audit questions, audit scope; audit criteria, methodology, sources of data, any limitations to the data used, and audit findings.
The audit findings should be put into perspective ensuring congruence between the audit objective, audit questions, findings and conclusions. The report should be balanced and fair. Where appropriate, include recommendations that are presented in a logical, knowledge-based and rational fashion, and be based on competent and relevant audit findings. They should be practicable, add value and address the audit objective and questions.
The report should be timely, complete, accurate, objective, convincing, constructive, clear and concise as the subject-matter permits, well -structured and reader-friendly. Overall, it should contribute to better knowledge and highlight improvements needed.
Performance Audit Report
