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What Is an Audit Resolution?

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  • Written By: Crystal Cook
  • Edited By: Angela B.
  • Last Modified Date: 29 November 2016
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An audit is the evaluation of a person, process, system, organization, project, enterprise or product to ensure efficiency and compliance with rules and guidelines. An audit resolution is the process established to plan, implement and monitor the resolution of any weakness found during an audit. Many companies employ internal auditors, but some sectors, such as the financial services industry, also are required to undergo external auditing by an independent firm. The resolution is handled by a person or a team of people who are specially trained to resolve any problems and keep a business running smoothly, efficiently and free from error and fraud.

A person who is responsible for audit resolution will review audit findings, management letters, reports and memorandums, and will then find ways to improve or completely resolve any documented issues. This person's duty is also to work with other teams within the company, especially management, to make sure all job processes within the company are running according to law and in the best interest of customers. Resolution often results in policy and procedure changes to improve workflow, safety, products and any other item or service the company produces.

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The audit resolution process includes the initial determination of a situation that needs improvement. That determination is followed by an information resolution period and a final determination on how to facilitate improving the product, process or service in question. The person or team working on the audit resolution process will either implement changes independently, including implementing policy or procedure changes, or will work with others in the company to implement the necessary improvements.

A specialist in resolution also may be employed to act as a liaison between the company and government officials, task forces, state agencies and government agencies. These specialists ensure that the company is working within all requirements, regulations and guidelines for the industry. An audit resolution employee also will help co-workers and other company employees to ensure they follow all procedures and policies to keep the company free from errors and fraudulent activity. Some audit departments are tasked both with performing the audit and with taking charge of audit resolution based on the findings from the audit process.

Some companies view the person in charge of the audit resolution function as the leader in ensuring all audit findings are remedied in a timely, accurate manner. If this person cannot make systematic or procedural changes on his own to fix issues found during the audit process, he will work with those in the company who can. The audit resolution also includes scheduling a post-resolution audit to ensure all issues, problems and weaknesses were resolved and are now working optimally.

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