Finding

A conclusion reached by the audit team based on data collected and analyzed in response to a specific audit question which indicates a need for improvement in the PSM program design or implementation. Findings are sometimes also referred to exceptions. Although strictly speaking a finding can be a positive or negative conclusion, common custom and terminology in auditing is to refer to the deficiencies identified as the findings. Findings include both the basis for the conclusion, i.e., an audit question or criteria, as well as the explanatory conclusion and the evidence that substantiates the conclusion.