What is the IIA standard timeframe for delivering audit reports after the completion of field work?

The correct timeframe according to the Institute of Internal Auditors (IIA) standards for delivering audit reports after the completion of fieldwork is typically two weeks. This timeframe is established to ensure that findings are communicated promptly while they are still fresh in the minds of the audit team and the auditee. Timely reporting helps facilitate quicker management responses and remediation of any identified issues, which enhances the effectiveness of the audit process and aids in the overall improvement of organizational practices.

Delivering reports within this timeframe is crucial for maintaining relevance and traction regarding the recommendations made. If reports are delayed, the urgency of addressing deficiencies may diminish, and the context in which the findings were made may change. Therefore, adhering to this two-week standard helps maximize the impact of the audit.