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Audit opinions

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Audit opinions

When audit recommendations have been agreed, the auditor will also provide an overall audit opinion to reflect the findings and the seriousness of any improvement areas. The 4 possible audit opinions will be selected.

The 4 possible audit opinions will be selected.

Effective (works well) 

No deficiencies noted (or only minor deficiencies).  Minor deficiencies do not have any significant impact on the effectiveness of management and control systems.  Recommendations will be ‘Best Practice’ advice.

Some improvement(s) required

Some deficiencies were found. These deficiencies have a moderate impact on the functioning of the management and control systems.  Recommendations have been formulated for implementation by the project sponsor.

Substantial improvement(s) required

Deficiencies were found that have led or may lead to irregularities. The impact on the effective functioning of the management and control system is significant. Recommendations have been put in place.

Fundamental weaknesses

Deficiencies were found which have led or may lead to irregularities. The impact on the effective functioning of the management and control system is significant – it functions poorly or does not function at all. The deficiencies are potentially systemic and wide-ranging.