What are the four phases of an audit process and what happens in each?

Question

Accepted Answer

An audit runs through Planning, Fieldwork, Reporting, and Post-Audit — define scope, gather evidence on site, communicate results, then track corrective actions.

* The four-phase audit flow: Planning, Fieldwork, Reporting, Post-Audit — scope, gather evidence, report, then verify the fixes. *

Phase
Key activities

Planning
Define audit objectives and methodology; send the notification letter; agree on background; create the audit program

Fieldwork
Kick-off (discuss plan, solicit input, explain timing/resources); conduct the audit (collect evidence vs. objectives, interviews, review docs, test transactions); an end-of-the-meeting to discuss results, resolve questions/concerns and choose corrective actions

Reporting
Communicate results: provide a draft report for comments, obtain corrective-action dates, distribute the final report to appropriate/involved people

Post-Audit
Review the corrective-action plan and results: interview people, review process updates/new actions, perform documentation review, and re-audit to verify fixes

Phase	Key activities
Planning	Define audit objectives and methodology; send the notification letter; agree on background; create the audit program
Fieldwork	Kick-off (discuss plan, solicit input, explain timing/resources); conduct the audit (collect evidence vs. objectives, interviews, review docs, test transactions); an end-of-the-meeting to discuss results, resolve questions/concerns and choose corrective actions
Reporting	Communicate results: provide a draft report for comments, obtain corrective-action dates, distribute the final report to appropriate/involved people
Post-Audit	Review the corrective-action plan and results: interview people, review process updates/new actions, perform documentation review, and re-audit to verify fixes