Internal auditors are viewed by many as an extension of top management. Therefore, it is a good practice to issue timely audit reports to management who are vested in the audit results. Timely audit results show management that not only are auditors committed to improving the deficiencies identified in the audit, but also that they are committed to helping management improve the overall effectiveness and efficiencies of the organization’s operations.

Having started my career in banking outside the internal audit function, I can clearly remember how annoyed and concerned I was when internal auditors would show up in our department. There would be a general alert reaction from everyone as well as a sense of impending danger. The sentiment was clearly based on the fact that we were a team and these people were there to expose our weaknesses and problems.