Which documents should be referenced when assessing the effectiveness of implemented audit recommendations?

The most relevant documents when assessing the effectiveness of implemented audit recommendations are previous audit reports and management responses. This choice is essential because previous audit reports provide a historical context of the issues identified, the recommendations made, and the actions that were supposed to be taken in response. They lay out the specifics of what was found during prior audits and how management intended to address these findings.

Management responses are also critical as they reflect the commitment and strategies of management concerning the audit recommendations. By examining these documents, auditors can gauge whether the recommendations have been integrated into the organization’s processes, whether management has implemented corrective actions, and if those actions have been effective.

In contrast, personal notes from auditors, while possibly insightful, often lack the formal context and comprehensiveness that previous audit reports and management responses provide. Only referencing the final audit report would limit the auditor's view to a snapshot in time rather than a comprehensive evaluation of ongoing improvements. Policies from external regulators, while valuable, do not directly reflect the internal actions taken on previous audit recommendations within the organization. Thus, previous audit reports and management responses present the most direct means to evaluate the overall effectiveness of implemented recommendations.