The Audit Report and Internal Control Evaluation

The final stage of an audit process involves the audit report. The audit report is a means for communicating several factors regarding the audit, such as

identifying issues and its causes

expressing effects and repercussions of the identified issues

measuring performance

suggestive tool for management involving necessary needed changes

suggestive solutions (practical and cost effective), and

provisions for follow-up of actions taken by the entity

("Internal audit manual", n.d.). Such a report is a provider of immense value to a company like Apollo Shoes. Through this audit report, Apollo can review areas that display risks that can be detriment to the company based on the auditor's findings and opinions. Eternal users such as...