Operational Audit Checklist Template | Free Download

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Operational audit checklist

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Use this template with Lumiform

The Lumiform application helps frontline teams uphold internal standards effortlessly.

Customize this template or build your own
Fill out templates via mobile app
Assign and track corrective actions
Get reports and analyse your data

Prices start from ░░░ per month

Book a demo

Learn more

Transform how you evaluate your organization’s operational performance with this comprehensive audit checklist. This template goes beyond basic compliance checks to help you systematically assess efficiency, effectiveness, and resource allocation across all business functions. When production timelines consistently fall behind or overhead costs unexpectedly increase, this checklist helps you methodically identify the root causes and implement targeted solutions.

Research from the Institute of Internal Auditors shows that comprehensive operational audits can identify cost-saving opportunities equivalent to 2-5% of annual operating expenses. The template includes sections for process mapping, performance measurement, risk assessment, and actionable recommendations.

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Preview of the template

Entity

Page 1

General Information

Company Name

Audit Date

Audit Team Members

Organizational Structure

Is the organizational structure clearly defined and communicated?

Are roles and responsibilities of each department/function clearly documented?

Policies and Procedures

Are all key policies and procedures documented and communicated to relevant personnel?

Are policies and procedures regularly reviewed and updated?

Are employees trained on relevant policies and procedures?

Risk Management

Is there a formal risk management process in place?

Are risks regularly identified, assessed, and mitigated?

Are business continuity and disaster recovery plans in place?

Financial Management

Are financial reports generated and reviewed regularly?

Are there adequate financial controls and segregation of duties?

Are expenses properly authorized and documented?

Operations

Are key operational processes documented and followed?

Are there adequate quality control measures in place?

Are there mechanisms to track and monitor operational performance?

Human Resources

Are there effective recruitment and onboarding processes?

Are employee records and personal information secured?

Are there regular performance reviews and development plans?

Information Technology

Is there an IT governance framework in place?

Are there adequate data backup and recovery procedures?

Are there effective cybersecurity measures implemented?

Compliance

Are all relevant laws, regulations, and industry standards being complied with?

Are there processes to monitor and report on compliance?

Are there mechanisms to address and rectify non-compliance issues?

Frequently asked questions

What is the difference between an operational audit and a financial audit?

A financial audit focuses on verifying the accuracy of financial statements and compliance with accounting standards. An operational audit, on the other hand, looks at how efficiently and effectively a company runs. It evaluates internal processes, resource use, risk management, and overall performance—not just the numbers.

How can I ensure objectivity when using this operational audit checklist?

Ensure objectivity by having auditors independent from the department being reviewed, establishing clear evaluation criteria before starting, collecting evidence to support findings, involving multiple stakeholders in the process, and validating results through cross-referencing different data sources.

How do I prioritize findings from my operational audit checklist?

Prioritize findings based on financial impact, alignment with strategic objectives, implementation feasibility, and risk level. Create a matrix scoring each finding on these factors, then focus first on high-impact, low-effort improvements that address critical operational weaknesses or significant cost-saving opportunities.

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.