Financial Audit Rubric
Department: [Audit]
Document Number: [000-00]
The rubric aims to ensure transparency, consistency, and accountability in financial management, aiding in the continuous improvement of financial practices and adherence to organizational standards.
Criteria | Description | Grading Scale |
Accuracy | Assesses the correctness of financial records. | Excellent, Satisfactory, Needs Improvement |
Compliance | Checks adherence to laws, regulations, and internal policies. | Fully Compliant, Partially Compliant, Non-Compliant |
Completeness | Evaluates if all financial transactions and information are present. | Complete, Partial, Incomplete |
Timeliness | Assesses if financial reports are prepared and delivered on schedule. | On Time, Slightly Delayed, Significantly Delayed |
Documentation | Reviews supporting documents for transactions. | Well-documented, Partially Documented, Inadequately Documented |
Internal Controls | Examines the effectiveness of internal checks and balances. | Strong Controls, Adequate Controls, Weak Controls |
Risk Assessment | Identifies potential risks affecting financial statements. | Thoroughly Assessed, Partially Assessed, Inadequately Assessed |
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