Template Workpaper
Previous Reviews
About this template
phase of an audit is a great way to bring you up to speed on the audit topic, former business processes and
possible issues.
This template will focus on the previous review, as well as any audit recommendations which have been raised for
this area.
Why use this template
This template gives a quick and easy checklist of things to consider when reviewing a previous audit file.
Furthermore, by completing this workpaper, the auditor is able to get a crash course of the audit topic which will
help have informed planning discussions with the business area.
When to use this template
This template should be used in the planning phase and should be one of the first activities completed by the
auditor. The template should be used before there are any planning discussions.
Things to be careful about
Whilst prior audits are a great way to save time as workpapers and documents are already created, we should be
careful to ensure that the review was done to a satisfactory level. Errors in the prior audit can be carried forward
if we become too reliant. Furthermore, the business area may be anticipating what the audit is going to do. An
audit should always have a level of unpredictability to ensure that any issues are identified and not covered up by
the business area. Finally, being too reliant on the prior workpaper may see us miss key areas of risk, not
challenge processes, or not value add during the audit.
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version?
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TESTING
Previous Reviews
WORKPAPER
Review Review name WP Ref P1.2.0010
Prepared by Auditor name Date prepared Date
Reviewed by Reviewer name Date reviewed Date
Previous Reviews
Purpose
The purpose of this workpaper is to document previous audit activity, and other forms of assurance, which have
been performed relating to AUDIT AREA. This activity will help to identify known risks and areas for key focus.
Methodology
The following activities were performed as part of our review of previous audit activity:
Task Activity WP Ref Done Comments?
1. Previous Internal Audit Reviews (including Include any comments here.
Action Item tracking)
A
a. Identify all previous internal Audit reviews
and associated recommendations.
2. Key Controls / SOC Include any comments here.
a. Review the results of previous Key Controls B
/ SOC testing.
3. External / Financial Statement Audit Include any comments here.
a. Obtain and review the most recent
C
Management Letter provided by the
External Auditor.
4. Other audit / assurance activities Include any comments here.
a. Discuss with the risk and compliance teams
(where relevant) to understand if any audit D
or assurance activities have been
performed relating to this audit activity.
Page 2
TESTING
Previous Reviews
WORKPAPER
Testing / Activity Performed
Activities as per the Methodology on page 1 are detailed below.
Ref Activity
Previous Internal Audit Reviews (including Action Item tracking)
A Identify all previous internal Audit reviews and associated recommendations.
The following previous internal audits, relevant to this review, have been identified:
Audit Audit Name Year Performed by Comments
Ref Key points arising from the review
The current status of audit recommendations from the abovementioned internal audits are documented in the
workpaper attached below:
Ref Activity
Key Controls / SOC
B Review the results of previous Key Controls / SOC testing.
The following previous Key Controls / SO have been identified. Issues identified have been included in
the comments.
Audit Audit Name Year Performed by Comments
Ref Key points arising from the review
Ref Activity
External / Financial Statement Audit
C Obtain and review the most recent Management Letter provided by the External Auditor.
A copy of the Management Letter (dated DD Mmm Yyyy) is included below:
Findings as per the Management Letter, responses, and current status, are documented in the attachment below.
Page 3
TESTING
Previous Reviews
WORKPAPER
Ref Activity
Other audit / assurance activities
D Discuss with the risk and compliance teams (where relevant) to understand if any audit or assurance
activities have been performed relating to this audit activity.
A list of other assurance activity has been included in the table below:
Ref Other Assurance Activity Year Performed by Comments
Description and any points relevant to this
review.
Page 4
TESTING
Previous Reviews
WORKPAPER
Results / Conclusion
We have noted the following items which will be carried forward into our planning meeting with the Internal Audit
team.
Sign off
Prepared by Reviewed by
Name Name
Date Date
Page 5
