What might findings in an audit report include?

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Audits look for issues in how money is handled and reported. Findings in an audit report point to problems such as errors in accounting records, weaknesses in internal controls that could lead to misstatements, non-compliance with laws and regulations, or discrepancies in financial reporting. These findings show where financial statements may not accurately reflect the school’s finances and where corrective actions are needed. They aren’t about student achievement or extracurricular activities, which aren’t the focus of financial or regulatory audits. So, identifying errors in accounting, regulatory non-compliance, and discrepancies in financial reporting best describes what audit findings may include.