Free Internal Audit Walkthrough Template For Compliance | PDF

Internal audit walkthrough template

The internal audit walkthrough template offers a structured approach to documenting and evaluating processes during audit walkthroughs, helping you ensure compliance and operational consistency. Research by PwC highlights that 70% of respondents find providing documents and data to be one of the most time-consuming challenges in the audit process. This template simplifies that process, enabling you to focus on identifying risks, inefficiencies, and gaps with greater efficiency.

What sets this template apart is its focus on step-by-step walkthroughs, making it ideal for industries like healthcare, finance, and manufacturing, where detailed documentation is critical. For additional tools, explore our Internal Audit Checklist or Internal Audit Risk Assessment Template to complement your audit needs.

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Preview of the template

Audit Preparation

Review audit objectives and scope

Identify key stakeholders and their roles

Gather relevant policies, procedures, and documentation

Schedule audit meetings and site visits

Process Evaluation

Document the process flow and key activities

Identify controls and control objectives

Evaluate the design and implementation of controls

Test the operating effectiveness of controls

Compliance Checks

Review relevant laws, regulations, and standards

Assess adherence to policies and procedures

Identify any instances of non-compliance

Evaluate the root causes of non-compliance

Audit Findings and Recommendations

Document audit findings and observations

Assess the significance and impact of findings

Develop recommended corrective actions

Agree on action plans with process owners

Reporting and Follow-up

Prepare the audit report and exit meeting

Track the implementation of corrective actions

Conduct follow-up reviews to validate actions

Document lessons learned and best practices

Frequently asked questions

How can you make internal audit walkthroughs more effective?

Start by clearly defining the scope and objectives of the walkthrough. Use standardized templates to ensure consistency, and involve key stakeholders to better understand the process. Regularly update documentation and train staff on audit expectations. Tools like the digital form above can also simplify data collection and analysis.

What are the biggest challenges in conducting an internal audit walkthrough?

The main challenges include collecting all necessary documentation, getting cooperation from various teams, and identifying inefficiencies that may not be immediately visible. Walkthroughs can also become complicated if processes are poorly documented or if employees don’t have a clear understanding of audit expectations and procedures.

What types of processes are typically reviewed in an internal audit walkthrough?

Processes reviewed often include financial reporting, supply chain management, IT controls, and compliance workflows. For example, in manufacturing, walkthroughs might focus on quality control procedures, while in healthcare, they could evaluate patient data handling. The goal is to address high-risk or critical workflows that affect overall operations.

What’s the difference between process mapping and an internal audit walkthrough?

Process mapping focuses on visually outlining how a process works, while a walkthrough involves actively reviewing the process in real time to identify risks and inefficiencies. Walkthroughs often use process maps as a tool but go further by evaluating compliance and controls.

This template, developed by Lumiform employees, serves as a starting point for businesses using the Lumiform platform and is intended as a hypothetical example only. It does not replace professional advice. Companies should consult qualified professionals to assess the suitability and legality of using this template in their specific workplace or jurisdiction. Lumiform is not liable for any errors or omissions in this template or for any actions taken based on its content.