What process is usually performed before finalizing an official audit report?

The process of reviewing audit results with the auditee and legal counsel is crucial before finalizing an official audit report. This step involves discussing the findings in detail with those directly involved and any legal representatives to ensure that all perspectives are considered and understood. This discussion allows for clarification of any discrepancies or misunderstandings that may arise from the findings and permits the auditee to address concerns or provide additional context which may impact the final report.

Engaging legal counsel at this stage is also beneficial, as they can provide guidance on compliance with applicable regulations and ensure that the report adheres to any legal standards required. This collaborative approach ultimately helps in enhancing the accuracy and credibility of the final audit report, thereby improving trust and transparency in the auditing process.

While sending out preliminary findings to stakeholders and preparing a summary of audit findings are important parts of communication in the audit process, they typically occur during the earlier stages of the audit and do not provide the comprehensive review necessary before an official report is finalized. Conducting a follow-up audit, while important in its own right, is a separate process that occurs after the initial report has been distributed and reviewed.