What it is
At the end of the audit the partner needs one place that shows how the team evaluated results: what was done, what was found and why the opinion is what it is.
The memo records completion of the plan, a misstatement table, a conclusions table that points to the subsequent events, going concern, representations, deficiencies and governance communications, and the opinion with reasons for any modification.
When to use it
- Before the report date on every audit.
- When uncorrected misstatements are close to materiality.
- When the engagement quality reviewer needs a summary.
What’s inside
- Plan completion and risk assessment changes
- Misstatement evaluation table
- Required conclusions with standard references
- Opinion, report date and consultation record
Standard cited
This template follows AU-C 450 / AS 2810. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use. See AU-C 450 explained.
Questions
Does it replace the partner review memo?
It complements it. The memo documents the evaluation; the partner review memo and checklist document the review.
Which standards does it point to?
AU-C 450, 240, 550, 560, 570, 580, 265, 260 and 230 for nonissuers and the matching PCAOB standards (AS 2810, 2401, 2410, 2801, 2415, 2805, 1305, 1301, 1215) for issuers.
Related templates
- Audit Completion and Partner Review Memo
- Summary of Uncorrected Misstatements (AU-C 450)
- Audit Completion and File Review Checklist (AU-C 230 / AU-C 700)
- Subsequent Events Memo (AU-C 560 and ASC 855)
Last updated 11/06/2026. All free templates.