Document background
The Audit Observation Memorandum (AOM) is a critical document in the Philippine auditing landscape, used to formally communicate significant audit findings and concerns that require immediate attention and response from the auditee. This document is typically issued during or after an audit engagement when material findings, compliance issues, or operational inefficiencies are identified. The AOM follows strict guidelines set forth by Philippine auditing standards and regulatory requirements, particularly those established by the Commission on Audit for government entities and the Philippine Standards on Auditing for private sector audits. It serves as an official record of audit observations, providing a structured format for documenting findings, supporting evidence, recommendations, and the auditee's planned corrective actions. The document is essential for maintaining transparency in audit processes and ensuring proper documentation of findings and resolutions.
