Auditor’s are individuals or a group or individuals who are tasked to conduct an audit. Companies can hire their own internal editors to do the auditing for them regularly. They could also hire an external editor from a third party company or from a particular firm to conduct an audit for them. After the audit, both internal and external auditors record their all of their findings as well as the outcome of the audit in an audit report.
There are many different types of audit and audit reports and one of them is an HR audit report. In this article are 12 HR audit report templates in PDF that you can freely view or download. They will serve as your reference as we further discuss about HR audit reports and audit reports in general.
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What Is an HR Audit Report?
The human resources department is one of the departments in a company or organization that is constantly being checked and audited. This is because they are the main department which does a lot of task and has a lot of company related activities and spending, aside from the finance department. The human resources department is also responsible for the recruitment and hiring of new employees, implementation of HR policies and procedures and making sure that all company requirements are taken cared of.
An HR audit report is where all of the findings of the audit are recorded. This document follows the standard format required for any audit report, regardless if they are internal audits or external audits. It is also used for a number of reasons that are beneficial to the company or organization and they are as follows:
- Through an HR audit the specific practices and processes of the human resources department are identified, whether they are adequate, legal or effective.
- They are able to help identify gaps in the human resources practices. Being able to point out these gaps allows the company or organization to prevent or avoid lawsuits and a number of regulatory violations by simply prioritizing these gaps.
- Having the human resources department audited is also helps in the department maintain its competitiveness in doing good HR practices.
- HR practices, performance and management are evaluated through an HR audit and this will help determine whether the steps taken by the department is able to help the company or if its needs to be changed or improved for the better.
What Things Are Being Audited in an HR Audit?
There are actually a lot of things that can be audited, but the real deal is that what must and should be audited. What should be audited largely depends on what the human resources department find as their weakness, or where they see problems with performance and management. Of course, not all human resources department have the same weaknesses and issues so they won’t usually have the same list of things that must be audited. But they do have some things in common where issues usually arise and these things should always be in the audit list.
- Personnel files – We all know that the human resources department is responsible for gathering and storing all the important personnel files of a company or organization. if these files are not kept and stored properly, a lot of problems may arise. One of the main problems is having inadequate personnel files. Some examples, include ambiguous performance evaluations, outdated and inaccurate data, inconsistent warnings, lacking personnel data and many more.
- Overtime eligibility – The human resources department is also responsible for the classification of jobs within the company or organization and point out which jobs are eligible for overtime and which jobs are exempt from overtime eligibility. The misclassification of jobs will hold employers liable to their employees past overtime.
Also check out other articles about the many different audit reports we are offering on website, like Tax Audit Report Samples & Templates and Information Technology Audit Report Samples & Templates.
What Is the Difference Between an Internal Audit and an External Audit?
As mentioned above, an HR audit as well as all the other audits can either be an internal audit or external audit. How different are they and why is it important to have them done? Let us go ahead and find out with the list of details below.
- Internal auditors are individuals who are hired by a company or organization to become part of their team ans do auditing work for them.
- The audit reports created by an internal auditor is submitted or presented to the company’s management or directors.
- A internal audit helps the company in managing its internal systems and it also helps the company in developing risk management policies.
- Since internal auditors are also company employees, internal audit reports may not be reliable at all time. This is because the internal editor may be trying cover something or impress someone within the company.
- In an internal audit, it is the management of the company or organization who gets to decide or choose which areas the auditor needs to examine and focus on.
- Internal auditors are responsible to the company’s management and higher management.
- External audits are conducted by external auditors from independent firms or third party organizations. This is contrary to the internal auditors who is an employee of the company.
- external auditors are appointed by the company’s stakeholders, thus they submit or present their audit reports to them.
- External audit reports are seen as important source of information by a lot of businesses and investors and are more preferred over inter audit reports. This is because external auditors are expected to be neutral which allows them to provide an honest and an accurate audit opinion on the audit they have conducted.
- Management does not have any control over what external auditors need to do. They are free to inspect and asses whichever aspect of the company that they see as important. This means they are not limited on the things that they can do.
- External auditors are responsible to the owners of the company and its shareholders, the general public and the government.
Both internal and external audits play an important role in a company or organization, regardless of its type and purpose. The main goals stay the same and that is to assess or examine the company to help determine the things that they are not doing well so that they can do something about it. You may also find articles, like Safety Audit Report Templates and Compliance Audit Report Samples and Templates interesting.
What Are the Advantages of an Audit Report?
When it comes to advantages, there are quite a lot that an audit report can offer and they are as follows.
- An audit report is where all the findings and the outcome of an audit is recorded. This just means that it contains important information about the company, its finances and certain process. The document can be used to compare current changes and improvements to those recorded that has been recorded in the past.
- External audit reports can help a company or organization identify themselves as a compliant company which will help them gain a good reputation in the industry. And this will attract business partners and potential investors.
- It is where the outcome of an audit or the audit opinion is written.
- It allows companies or organizations to determine the changes that they need to do in order to improve and become even more successful.
- Financial audit reports confirm the current financial health of the company and it also confirms that they have a good management.
- Regular audits boots the company’s reputation and help them become desirable partners in business.
- Any kind of business loan that one wishes to apply for requires a financial audit as it is a prerequisite for that loan.
There sure are a lot of advantages that audit reports have to offer. For sure there are still more that are not on the list. this just shows how useful and audit report is and how important it is to have an audit done regularly.
We hope that you are able to find this article about audit reports useful. If you need more references or wish to learn more about audits and audit reports, you can always drop by our website. Some of the articles have available are Clinical Audit Report Template and Audit Schedule Samples and Templates.
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