Importance of Project Audits Guide

This guide outlines sample work program fieldwork and administrative steps for a company’s project audit process.

Best practices include: management should be concerned with on-time and within-budget project delivery; project audits assist in ensuring that corporate initiatives are well managed and have a positive impact on the organization; project audit’s assurance role supports senior management, the audit committee, the board of directors and other stakeholders; a risk-based approach is used when planning project audits; and internal auditors should be involved throughout a project lifecycle, not just in post-implementation audits.