What it is
An investigation report sets out what was alleged, how the matter was examined, what the evidence shows and what should be done. It keeps to facts and evidence. Opinions about guilt belong to the decision-makers.
It covers the allegation, authority and independence, the approach, facts and findings with evidence, financial effect, control failures and root cause, the conclusion, recommendations and a table of notifications for counsel to decide.
When to use it
- After an investigation into a complaint or suspected fraud.
- When reporting to the audit committee.
- To give counsel a clear record.
What’s inside
- Summary, background and scope
- Approach and evidence preservation
- Facts, financial effect and control failures
- Conclusion, recommendations and notifications
Standard cited
This template follows Internal audit / fraud investigation. 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
Who should lead an investigation?
Someone with no conflict and the right authority, usually appointed by the audit committee or counsel. Check conflicts for everyone on the team.
Should the report say a person is guilty?
No. State whether the allegation was substantiated and the evidence. Discipline and legal conclusions belong to management, counsel and the committee.
Related templates
- Whistleblower Procedures and Policy
- Whistleblower Complaint Log
- Fraud Risk Assessment Worksheet
- Root Cause Analysis (5 Whys and Fishbone)
Last updated 11/05/2026. All free templates.