Terminology Index

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64 terms starting with "E"

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32

External Audit Cycles

The recurring schedule and phases of external audits, planning, fieldwork, testing, reporting, and follow-up, that organizations and audit firms move through, often annually, to provide independent assurance over controls.

External audits run on cycles: a planning phase scopes the audit, fieldwork gathers and tests evidence, findings are reported, and follow-up tracks remediation, typically repeating annually or per framework requirements. Understanding the cycle helps organizations prepare, allocate effort across the year, and maintain readiness, and helps auditors manage engagements. Different frameworks (like SOC 2 or HITRUST) impose their own cycle timing and cadence.

Introduced in: Audit and Assurance

Examples

  • Moving through planning, fieldwork, reporting, and follow-up over an audit year.
  • Preparing evidence ahead of the fieldwork phase of an annual audit.
  • Aligning internal effort to the external audit cycle's timeline.

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