An audit committee needs a clear view of whether controls work, which findings matter most and who will fix them by when. This internal audit report template keeps that view in one order: the opinion, the key findings with ratings, the themes behind them, the actions with owners and dates, and the follow-up on earlier issues. Each finding carries its criteria, cause and effect, so the committee can judge the rating rather than take it on trust.

The sample is for Orchardby Capital, a fictional investment firm whose purchasing controls were tested from July to December 2026. The opinion is that some improvement is needed: 19 of 22 controls operated as designed, two high findings relate to order matching, and 12 of 16 prior actions are closed. Replace the sample findings, ratings, responses and dates with your own testing, and write your rating scale so every finding is judged the same way.