SmartHubs Documentation

Creating Audit Projects

A comprehensive guide to setting up new audit projects in SmartHubs.

Last updated: February 2026

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An audit project is a container for all audit-related activities, evidence, findings, and reports. Proper setup ensures your audit runs smoothly from start to finish.

Before You Start

Before creating an audit project, gather the following information:

  • Audit Scope: What area/process will you audit?
  • Business Objective: Why are you conducting this audit?
  • Audit Period: What time period will the audit cover?
  • Timeline: When will audit start and end?
  • Key Risks: What specific risks will you address?
  • Controls to Test: What controls are relevant?
  • Team Members: Who will work on this audit?
  • Stakeholders: Who needs to be informed of results?

Step-by-Step Audit Creation

  1. 1

    Click Create Audit

    Navigate to your workspace and click the "Create New Audit" button.

  2. 2

    Select Audit Type

    Choose from available templates or start with a blank audit project.

  3. 3

    Enter Basic Information

    Provide audit name, description, dates, and scope.

  4. 4

    Define Audit Objectives

    Specify what you intend to accomplish with this audit.

  5. 5

    Add Audit Procedures

    List specific testing procedures that will be performed.

  6. 6

    Assign Team Members

    Select who will participate in this audit project.

  7. 7

    Configure Workflow

    Set approval process and review requirements.

  8. 8

    Launch Audit

    Finalize settings and begin the audit project.

Step 1: Click Create Audit

From your workspace dashboard, click "Create New Audit" button (top right). You can also navigate to Projects and select "New Project".

Step 2: Select Audit Type

Choose how to start your audit:

  • Use Template: Select from your organization's audit templates
  • Blank Audit: Start from scratch with full customization
  • Copy Existing: Duplicate a previous audit as starting point
Templates save time by providing pre-configured procedures and structure. We recommend using templates for standard audit types.

Step 3: Enter Basic Information

Fill in the following required information:

Audit Name *

Clear, descriptive name (e.g., "Q1 2026 Financial Controls Audit")

Audit Type *

Select: Internal Audit, Operational Audit, IT Audit, etc.

Start Date *

When does the audit execution begin?

End Date *

Target completion date for the audit

Audit Scope *

What areas, processes, or controls are included in this audit?

Description

Additional context or background about the audit

Audit Committee/Board

Which governance body oversees this audit?

Budget/Estimated Hours

Resource allocation for this audit

Step 4: Define Audit Objectives

Clearly state what you want to accomplish. Objectives should be:

  • Specific: Clearly defined and measurable
  • Relevant: Aligned with business risks and priorities
  • Achievable: Realistic within the audit timeline
  • Board-Focused: Address matters of interest to leadership

Example objectives:

  • Assess the effectiveness of financial transaction controls
  • Evaluate the adequacy of data access restrictions
  • Review the completeness of fixed asset documentation

Step 5: Add Audit Procedures

Add the specific testing procedures you'll perform. Click "Add Procedure" and define:

For Each Procedure:

  • Procedure ID: Reference number (e.g., "FIN-001")
  • Procedure Title: What will be tested?
  • Objective: What is the audit testing objective?
  • Control(s): Which controls are being tested?
  • Risk(s): Which risks are being addressed?
  • Responsible Person: Who will execute this procedure?
  • Timeline: When should this be completed?
  • Estimated Hours: How long will this take?
If you selected a template, procedures are pre-populated. You can modify, add, or remove as needed.

Step 6: Assign Team Members

Click "Assign Team" to add members to this audit project. For each member, specify:

  • Role: Audit Lead, Auditor, Reviewer, or Stakeholder
  • Procedure Assignment: Which procedures will they work on?
  • Approval Authority: Can they approve findings?

Audit project roles:

Audit Lead

Oversees entire audit, approves findings, generates reports

Auditor

Executes procedures, documents findings and evidence

Reviewer

Reviews findings, approves work before finalization

Stakeholder

Read-only access to audit progress and final report

Step 7: Configure Workflow

Set up your approval process:

  • Approval Required: Will findings/procedures need approval?
  • Approval Hierarchy: Who approves at each level?
  • Parallel Reviews: Can multiple reviewers approve simultaneously?
  • Escalation Rules: What happens if approval is delayed?
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Workflows ensure quality control and proper segregation of duties in the audit process.

Step 8: Launch Audit

Review all information is complete. Click "Launch Audit" to activate the project.

Once launched:

  • Team members receive notifications and can begin work
  • The audit appears on dashboards and project lists
  • You can begin documenting evidence and findings
  • Progress tracking becomes available

Common Audit Project Configurations

Financial Controls Audit

Focus: Transaction processing, account reconciliations, authorization controls

Typical duration: 6-12 weeks

IT Systems Audit

Focus: Access controls, system security, change management, disaster recovery

Typical duration: 8-16 weeks

Compliance Audit

Focus: Regulatory compliance, policy adherence, control effectiveness

Typical duration: 4-8 weeks

Operational Audit

Focus: Process efficiency, resource utilization, effectiveness of operations

Typical duration: 8-12 weeks

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Your audit project is now created and ready for execution! You can now proceed to execute audit procedures and document your findings.

Need help? Contact our support team