Financial Audit Rubric
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 |
