What it is
The annual plan is how the chief audit executive turns the audit universe and the board’s priorities into a schedule that fits the people available. This workbook builds capacity from staffing and allowances, lists the engagements with risk rating, cycle and quarter, and checks planned hours against capacity.
It flags engagements that are due in the plan year but not scheduled and high-risk engagements that are deferred, so the audit committee sees what is not being covered.
When to use it
- When preparing the plan for audit committee approval.
- When re-planning during the year for a change in risk, staffing or priorities.
- When showing the committee the effect of a resource shortfall.
What’s inside
- Capacity tab from staff count, days, hours, leave, training, administration and reserve
- Plan tab with 40 engagements, cycle, next due date, quarter, hours, lead and status
- Summary by quarter, coverage by risk rating and capacity check
Standard cited
This template follows IIA Global Internal Audit Standards (2024). 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.
Questions
What does the board need to approve?
The plan and the resources it needs. The Global Internal Audit Standards place planning, resources and reporting to the board in the domain on managing the internal audit function. Follow your charter for the approval steps.
What if the plan exceeds capacity?
The Summary shows the hours over capacity. Do not hide the gap: add resources, defer lower-risk work or cut scope, and tell the audit committee what the effect on coverage is.
Related templates
- Internal Audit Universe Risk Scoring
- Internal Audit Charter
- Audit Committee Report from Internal Audit
- Internal Audit KPI Dashboard
Last updated 11/05/2026. All free templates.