Audit finding
An audit finding is a matter identified by audit work that requires evaluation and, where appropriate, communication or action. It may concern a misstatement, control deficiency, exception or another issue. The importance, recipient and form of communication depend on the facts and applicable requirements.
Worked example
The auditor finds that supplier bank changes were not independently approved and evaluates the significance before communicating the deficiency.
Common mistake
Do not confuse an observation meaning a finding with observation as an audit procedure, which involves watching an activity.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AA | Supporting | September 2026–June 2027 |