How can you ensure all stakeholders receive audit findings?

1 Identify the stakeholders

The first step is to identify who are the stakeholders involved in the grant audit process and what are their roles and responsibilities. Stakeholders may include the grantor, the grantee, the auditors, the subrecipients, the beneficiaries, and the public. Each stakeholder may have different expectations, interests, and needs regarding the audit findings. For example, the grantor may want to verify the grantee's compliance and accountability, the grantee may want to demonstrate its achievements and challenges, and the beneficiaries may want to know how the grant funds were used and what impact they had.

2 Communicate the audit objectives and scope

The second step is to communicate the audit objectives and scope to all stakeholders before the audit begins. This can help to set the tone, clarify the expectations, and avoid misunderstandings or conflicts. The audit objectives and scope should explain why the audit is conducted, what aspects of the grant are examined, how the audit criteria and standards are determined, and how the audit evidence and findings are collected and reported. The communication can be done through various channels, such as meetings, emails, letters, or webinars.

3 Share the draft audit report

The third step is to share the draft audit report with the grantee and solicit its feedback and comments. The draft audit report should present the audit findings in a factual, objective, and balanced way, highlighting both the positive and negative aspects of the grant performance and compliance. The grantee should have an opportunity to review the draft audit report and provide its perspective, explanations, or corrections on the audit findings. The auditors should consider the grantee's feedback and comments and make any necessary revisions to the draft audit report.

4 Finalize and disseminate the audit report

The fourth step is to finalize and disseminate the audit report to all stakeholders. The final audit report should include the auditors' opinion, the audit findings, the recommendations, and the grantee's response. The audit report should be clear, concise, and consistent, using plain language and avoiding jargon or technical terms. The dissemination of the audit report should follow the agreed-upon protocols and procedures, such as the format, the timing, the distribution list, and the confidentiality level.

5 Follow up on the audit recommendations

The fifth step is to follow up on the audit recommendations and monitor their implementation. The audit recommendations are the suggestions or actions that the auditors propose to address the audit findings and improve the grant performance and compliance. The grantee should develop and submit an action plan that outlines how it will implement the audit recommendations, including the responsible parties, the timelines, the resources, and the indicators. The grantor should review and approve the action plan and provide any necessary guidance or support. The grantee should report on the progress and outcomes of the action plan and the grantor should verify and evaluate them.