Question

Who are the users for operational audit? Compliance Audit? Financial Audit?

Choose from any drop-down list

a.	Collection agent
b.	Accounting staff of the organization
c.	Purchasing agent
d.	Different groups for different purposes long dash—many outside entities
e.	Authority setting down​ procedures, internal or external
f.	Management of the organization

Users of audit report

Answer 1

There are three main types of audits: financial, operational and compliance.
Financial audits involved a focus on financial controls which are related to reporting. The controls are present in the general ledger or sub ledger systems of a business. The financial statement auditing is the focus for these external auditors. Internal auditors will use the financial statements and also complement the work they perform based on an agreed plan.
Operational audits focus on more the review and assessment of the business process by looking at the direct or indirect financial impact to the business like collection of student tutions or patient account balances. The internal audit will focuses on operational audits but will extend the scope to include accounting procedures which can impact the financial reporting.
Compliance auditing reviews the level of compliance with the internal policies of the business or the external regulatory requirements set by the government or the board of accountancy which the business follows.

Various users of Audit Reports are as below:

1. Operational audit report
e. Authority setting down​ procedures, internal or external
f. Management of the organization

2. Compliance audit reports:
c. Purchasing agent
d. Different groups for different purposes long dash—many outside entities
f. Management of the organization

3. Financial audit report:
a. Collection agent
b. Accounting staff of the organization
d. Different groups for different purposes long dash—many outside entities
f. Management of the organization