What should be done with action plan responses received from management?

Management's action plan responses play a crucial role in the audit process. They provide insights into how the organization intends to address identified findings and recommendations made during the audit. By reviewing and incorporating these responses into the final audit report, auditors ensure that the report presents a holistic view of both the findings and management’s commitment to improvement.

Including these responses in the final report allows for a comprehensive understanding of the audit's implications and demonstrates how management plans to mitigate risks or enhance controls identified during the audit. It also facilitates accountability as stakeholders can see the specific actions management intends to take in response to the issues raised, establishing transparency in the organization’s governance processes.

Ignoring responses may lead to a lack of follow-up on critical issues, while forwarding them to regulatory bodies without context might not provide a complete picture of how the organization is addressing these concerns. Summarizing responses for future audits could be helpful, but it does not contribute to the immediate understanding and resolution of the current issues. Therefore, incorporating them into the final audit report is the best approach to ensure a thorough and actionable audit outcome.