An audit is an integral part of every business, whether big or small. Audits are carried out at various levels - internal, financial, compliance, and so on. An audit is always performed using "auditing tools" and one such popular tool is the audit notebook.
An Audit Notebook is a book which the audit staff keeps during their work, to note new points or difficulties they encounter. A note made by this group of people is called an "audit note". These records contain information on what happened in day-to-day routines while performing audits and can include anything like queries found unclosed; replies received there too as well correspondence entered into between auditors themselves.
Importance of Audit Note book
The importance of audit notebook cannot be stressed enough because it serves as a link between auditor and company and in this digital age where data theft and hacking has become common in businesses, paper notes provide ample safety in comparison to online documents. [more about how it can stop hackings] [more about confidentiality] [and more about no chance of data getting leaked when compared to other tools like laptops etc.]
The information that will be maintained in the Audit Notebook is based on the reference material, the company's past records, and data. It will also contain the audit program, cases of conflict or deviations that are noted during the audits, dates of previous audits along with the results of those audits, etc. Such details help to create a better understanding between auditor and company in order to maintain cordial relations between them.
To sum up, an Audit Notebook not only serves as an important tool for carrying out audits but it helps in strengthening ties between every party involved in every audit at their own level.