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Updated 9/12/2016 Writer’s Guide for Research Reports

Internal Audit Foundation Writers Guide for Research Reports

Contents

1. Introduction .............................................................................................................................................. 2

2. Understanding the Audience .................................................................................................................... 2

3. Research Process: Data Collection ............................................................................................................ 2

4. Structure of a Research Report ................................................................................................................. 2

5. General Writing ......................................................................................................................................... 4

6. Use of Numbers ......................................................................................................................................... 4

7. Internal Audit Terminology ....................................................................................................................... 4

8. Formatting ................................................................................................................................................. 5

9. Exhibits (a.k.a., Tables and Figures) .......................................................................................................... 6

10. Notes and Bibliographies ........................................................................................................................ 9

11. Permission to Use Interviews or Case Studies ...................................................................................... 10

12. Permission to Use Published and Unpublished Materials from Third Parties ...................................... 11

Appendix A: Executive Summary—Instructions .......................................................................................... 13

Appendix B: Executive Summary—Sample ................................................................................................. 14

Appendix C: Survey Invitation Letter—Sample ........................................................................................... 15


1. Introduction

Thank you for conducting research for The Internal Audit Foundation (The Foundation). Your contributions to the profession of internal auditing are greatly appreciated. This writer’s guide for research reports will help you prepare your content in the best form for publication. It includes guidelines for content as well as formatting. If you have any questions about the best approach to take as you are writing, please contact your Foundation project manager.

2. Understanding the Audience

Research reports published through the Foundation are designed to serve two audiences: practitioners and academics. To serve practitioners, the main text of reports should highlight key messages and the data that support them. The data in the text should be presented through clean, uncluttered graphics. To serve the academics, the appendices should include data charts with detailed statistics about the data that was gathered. (For surveys, this may mean a data chart for the responses from each question.) The appendices can also include more details about the methodology and research design.

3. Research Process: Data Collection

Surveys If a survey is to be used, the researcher and the Foundation need to collaborate on the demographic questions because The IIA has some standard questions that must always be used. In addition, the scales in the answer options must also be discussed with the Foundation to ensure that they will be conducive to creating user-friendly exhibits. Interview Questions The interview questions must be neutral and not lead to a certain type of answer.

4. Structure of a Research Report

Title and Subtitle Titles should be 2 to 5 words (although there can be exceptions that are longer). Subtitles are usually longer than the title and give more information about the topic. Examples: CAE Strategic Relationships: Building Rapport in the Executive Suite; Combined Assurance: Case Studies on a Holistic Approach to Organizational Governance. Please provide at least five title/subtitle options with the first draft of the report.

Acknowledgments It is customary to mention members of the review team by name. You may also acknowledge support that you received from other people or organizations.

About the Authors Author biographies are usually one paragraph long.

Executive Summary

An executive summary is 1-2 pages that summarize the entire report. It should describe: o The problem under investigation or need that led to the project …


o The participants, specifying pertinent characteristics, such as demographic information, industry, internal audit function characteristics, job titles, etc.

o The essential features of study methodology—you have a limited number of words, so restrict your description to essential and interesting features of the study methodology…

o The basic or most important findings… (4-6 bullet points) o The conclusions and the implications or applications

Adapted from The Publication Manual of the American Psychological Association, 6th edition, page 26

The goal is to orient the reader and motivate him or her to read the complete report.

Write a first draft of the executive summary when you begin writing the final report, but when the report is complete, revise the executive summary so that is matches the final product.

More instructions and a sample executive summary is provided in appendices A and B.

Introduction

Need for the research (at least 2-3 paragraphs)

Purpose of the research (1 paragraph)

Research questions o These are three or four questions that define the entire project. o These are NOT sample questions from the survey or interview. o These questions should have already been defined in the proposal.

Description of how the research can benefit practitioners (at least 2-3 paragraphs).

Literature Review (one short chapter)

Even though this is a “literature review,” use a different title that gives the reader more information, i.e., “Previous Findings about Audit Committee Effectiveness.”

Tell what the literature says about the topic of the research report. There needs to be a direct link.

Give IIA standards and guidance on the research topic.

Explain terms so that practitioners can understand them (not just academics). Give an overview of foundational definitions or theories.

Explain how your research builds on current knowledge. Don’t just list studies. Explain how they are related to the project.

Methodology (one short chapter)

Help readers understand what you did and why you did it that way.

The purpose of the methodology is to give the practitioners enough information so that the results have credibility. For the academics, give complete details in an appendix. For example, explain the reliability test in an appendix.

Describe the parameters of any focus groups, surveys, interviews, case studies, data analysis, etc. Include dates, number of respondents, limitations, etc.

For surveys, give high-level demographic information only unless more detail is relevant to understanding the results. Do not use figures for demographic information unless a particular item is a critical filter for understanding the data. Details about demographics can be included in an appendix.

Results Section (multiple chapters)

Create multiple chapters. You may create chapters based on research questions or some other device.

Chapters should conclude with a summary and transition into the next chapter.

Make chapters approximately the same length.

Each chapter needs an introduction and preview for the reader.

Avoid giving a “data dump.” The key to making research reports interesting and relevant is for the text to go beyond reiterating the statistics that the reader can already see in the graphic. The text should interpret, analyze, explain or make observations about the statistics in the graphics.


In particular, the text with each table or figure should answer questions such as:

1. What is most important? 2. How does this information answer the research questions? 3. Is this information what was expected or not? 4. What are the implications of these results for internal auditors? 5. What is most interesting or surprising?

Conclusion and Implications (at least one chapter)

Summarize the key findings for each research question (required).

Draw together the central findings of the report.

Describe applications for the practitioners.

Give ideas for future research (if applicable).

Make the chapter(s) long and robust. This is the most important information!

Appendices • More detailed methodology • The complete text of the survey instrument, interview guides, etc • Data tables for survey question results • More detailed demographic information for respondents (if needed)

5. General Writing

• Use short paragraphs. Length should be between 7 and 15 lines. • Use a comma with conjunctions. Example: We bought apples, oranges, and bananas. • If you quote someone, give their credentials for commenting on the topic. • Keep an objective tone throughout the report. Do not give the impression that there are “right” or

“wrong” perspectives, or “good” or “bad” responses. There are just differences. • Don’t use “we” or “I.”

6. Use of Numbers

For research reports based on statistical findings, use digits for any number that is a statistic from the survey, regardless of whether it is 1 or 100. Also use % rather than spell out percent, even in text. For example, you would write:

• In French Canada, 1 out of 5 respondents indicated… • English Canada had the lowest level of perceived support, with 20% of respondents indicating… • Case 4 describes a company that… The best example is Case 2. (Capitalize and use a numeral when

referring to case studies.) The exception is at the start of a sentence:

• One out of 10 indicated lack of financial support, while 2 out of 10 indicated inadequate staff levels. • Twenty percent indicated…, while 30% indicated….

These guidelines are based on the Publication Manual of the American Psychological Association, which is the academic standard for reporting out statistical findings.

7. Internal Audit Terminology

References to The IIA Always use initial caps for The Institute and The Foundation. Also The IIA and the Foundation.


Give titles, reference numbers, and date of publication for standards, practice guides, etc.

Terms Used in the Profession The term “organization” is preferred to the term “company.”

Audit “customer” or “client” is preferred to the term “auditee.”

“Chief audit executive” is preferred to the term “audit director.”

Internal Audit vs. Internal Auditing “Internal audit” is used to refer to the function or department in an organization, instead of “internal auditing.” Use “internal auditing,” however, when referring to the overall profession or discipline. Examples:

Mary worked with internal audit to identify her department’s control weaknesses.

We need to confer with internal audit.

The practice of internal auditing… Use “internal audit” as a modifier (e.g., the internal audit department). Avoid using “IA” as an abbreviation for internal audit/internal auditing.

Internal Audit Activity vs. Internal Audit Function In guidance, The IIA uses the term “internal audit activity.” However, if the authors feel strongly about it, they may use the term “internal audit function” instead.

8. Formatting

Heads and Subheads Heads and subheads are useful for organizing and classifying information by subject. Indicate corresponding levels of importance when applicable. When creating heads and subheads, choose words that are an accurate description of the section to follow. One to five words should be sufficient. Include an introductory paragraph under each subhead; don’t start sections with bold lead-ins (or subheads).

Style Tags in Word The use of style tags in Word is highly encouraged because it helps the typesetter recognize the difference between different levels of subheads. Style tags can also be used to create tables of contents. Contact your IIARF project manager for more information.

Bullets and Numbering Bullets and numbering are helpful for the reader, and they also break up the appearance of monotonous gray text on a page. Always use numbers for items that are sequential. Otherwise, decide between using numbers or bullets on a case by case basis. Do not have more than 9 items in a list. If your list is longer than 9 items, break it up with subheads.

Block Quotes Block quotes are another good way to add visual variety to text. They are needed when you give an exact quotation that is three or more lines long. When the quotation is set up as a block quote, quotation marks are not used (because the indenting takes their place). Do not italicize block quotes. Example: Tracking assurance findings and remedial actions is crucial from a transparency perspective. According to a senior manager of Case 3:


The major benefit for the board is to be able to look at the risk profile of the organization and

say, “Well, on these risks we’ve got assurance that we are managing them properly,” because

we link everything we do back to the risk system.

Kickers Kickers are short introductions to a body of text. Choose one way to do a kicker, and use that one way throughout the book. Here is a good option:

Knowledge, skills, and experience. The internal audit function should assess each assurance provider in terms of qualifications regarding a specific subject matter.

9. Exhibits (a.k.a., Tables and Figures)

Tables and figures should all be called exhibits. This simplifies the numbering issues a great deal.

Tables can be included in the main text.

VERY IMPORTANT: Bar charts, pie graphs, and other figures should be kept in a separate Excel spreadsheet with a tab for each figure. Put a placeholder reference in the text as shown below.

[Insert [[AUTHOR NAME_Exhibit_2.1]

All exhibits should be double numbered with Arabic numerals sequentially. Restart the numbering with each new chapter. Example:

Exhibit 1.1 Exhibit 2.1 Exhibit 2.2

How to Make Exhibits Most Effective

Follow the American Psychological Association (APA) style.

Each exhibit should be referenced in the text by number.

Use graphics for the most important data: the more important the result, the more prominent the figure. Graphics include pie charts, bar charts, line graphs, etc.

Use tables for less important data.

For each graphic, be careful to choose the type of graphic that communicates the data most effectively (e.g., pie charts, bar graphs, etc.). Don’t make the reader work too hard to understand the point.

The title of the exhibit should say clearly what statistics are being presented. Sometimes it is effective to use the first words of the title to identify the statistics that you can see in the exhibit (i.e., barrier scores). The next words should explain the categories, or groups, that are shown in the exhibit (i.e. for cities with greatest challenges to performance auditing) The complete title would be: Exhibit 4.1. Barrier Scores for Cities Experiencing Greatest Challenges to Performance Auditing.

The text of the report should NOT simply be a repetition of the data that the reader can already see in the exhibit. The explanation in the text should use words to give perspective and meaning to the information in the exhibit.

Information to include in all Exhibits

Give the source for each table or figure below the table or figure (especially if it’s from a third party).

All information needed to understand the exhibit should be in the exhibit notes.

For graphics about survey results, put the exact wording of the entire question (and question number, if possible) in the note of the exhibit.

The information under the tables should be presented in the following order. (Please also note the use of periods, the spacing, and the use of italics for n, p, and Note:.)


Note: These are the responses to survey question 21, "Does your organization have a policy of using internal audit as a training ground for management?” Response options were on a scale of 1 to 5 with 5 being the highest.

an = 1,034. bn = 447.

*p < .05. **p < .01.

Note: Variables are measured on a scale of 1 to 5, with 5 being the highest. Averages are reported.

Exhibit 2.1. Organizational and Professional Identification (by Rank)

3.57

3.65

3.80

3.89

3.50

3.56

3.70 3.66

3.30

3.40

3.50

3.60

3.70

3.80

3.90

4.00

Audit Staff Audit Manager Audit Director Chief Audit Executive

Organizational Identification Professional Identification


Exhibit 2.3. Perceived Conflict Between Work Standards and Professional Judgment

Note: Survey respondents were asked to respond to the statement: "In the organization, there is a conflict between the

work standards and procedures and my ability to act according to my professional judgment." Due to rounding, some rows

total 99% instead of 100%.

4%

3%

3%

4%

4%

10%

8%

10%

9%

12%

13%

10%

12%

16%

14%

52%

49%

51%

52%

54%

20%

29%

25%

19%

15%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

All Respondents

CAE

Director

Manager

Staff

Strongly agree

Agree

Neutral

Disagree

Strongly disagree


Exhibit 2.9. Reporting Lines and Organizational Outcomes (All Respondents)

Organizational Outcomes Report to Audit Committeea Report to Managementb

Organizational-professional conflict 2.15** 2.41**

Organizational identification 3.71 3.62

Perception of audit effectiveness 3.36* 3.11*

Perception of ability to work independently (job autonomy)

4.03* 3.87*

Note: All variables are measured on a scale of 1 to 5, with 5 being the highest. Averages are shown. an = 1,034. bn = 447.

*p < .05. **p < .01.

Exhibit 2.5. Correlations Between Organizational-Professional Conflict and Indicators of Satisfaction

Organizational identification

Job Satisfaction

Turnover

Organizational-Professional Conflict

-.294** -.486** .450**

Note 1: Organizational-professional conflict (OPC) is a condition in which an individual perceives that organizational values are incompatible with professional values. Note 2: Pearson correlations range from +1 to –1. A negative correlation means that as one measure goes up, the other goes down. **p <. 001 (two-tailed significance).

10. Notes and Bibliographies

The Foundation follows the Chicago Manual of Style, 16th edition, for style guidelines and questions pertaining to copyediting, grammar, referencing, punctuation, etc. You may use notes with a bibliography (most common) or the author-date style (less common, used mostly with academic report). Use the automatic footnote or endnote feature in Word to insert notes. This will avoid numbering errors during the editing process. Following is a sample of CMS guidelines for setting up footnotes/endnotes.

Book with Two Authors Note: 6. Guy Cowlishaw and Robin Dunbar, Primate Conservation Biology (Chicago: University of Chicago Press, 2000), 104–7. Bibliography: Cowlishaw, Guy, and Robin Dunbar. Primate Conservation Biology. Chicago: University of Chicago Press, 2000.


Book Published Electronically Note: 2. Philip B. Kurland and Ralph Lerner, eds., The Founders’ Constitution (Chicago: University of Chicago Press, 1987). http://presspubs.uchicago.edu/founders/ (accessed June 27, 2006). Bibliography: Kurland, Philip B., and Ralph Lerner, eds. The Founders’ Constitution. Chicago: University of Chicago Press, 1987. http://presspubs.uchicago.edu/founders/. Also available in print form and as a CD-ROM.

11. Permission to Use Interviews or Case Studies

INSTRUCTIONS: After the first draft is complete, please plan to send quotations or case studies back to the interviewees so that they can confirm that the text is accurate. Send each contributor his or her own material only (not the entire document). Please paste the text into the email rather than sending it as an attachment. This will allow for a clear connection between their email response and the grant of permission. When you receive the email granting permission for The IIA to use the material, please forward it to the

Foundation project manager, who will keep track to make sure that The Foundation has all permissions in the

projects’ permanent records.

Please see below for a letter template that you can use to request permission.

LETTER TEMPLATE: Subject Line: IIA Research_Response needed by [[INSERT DATE]] Dear [insert name of interviewee] Thank you again for taking the time to be interviewed for a research project sponsored by The IIA Research Foundation. As an attachment to this email, I have provided a copy of the text related to your contribution. Please review the material and please send me any corrections that need to be made BY [[INSERT DATE]]. [[If applicable, please include the following disclaimer: (Please note: The case studies in this report are anonymous. You and your organization will not be identified by name anywhere in the report.)]] After your review, please reply to this email, granting the following permission:

I give permission for the text that I have reviewed to be used in the publication titled [[INSERT TITLE]], by [[INSERT AUTHOR]], published by The Institute of Internal Auditors Research Foundation, Altamonte Springs, FL, 32701 and any other derivative products based on this publication.

Please include your name, title, email address, and phone number in your communication. Thank you again for supporting the internal audit profession by participating in this research project. If you have any questions regarding this project, you are welcome to contact [email protected], or [email protected]. Sincerely, [insert researcher name]

mailto:[email protected]


12. Permission to Use Published and Unpublished Materials from Third Parties

In general you will need permission for: • Quoting more than 300 words from a book. • Quoting more than 50 words from a newspaper, magazine, or journal. • Artwork, photographs, or forms. • Materials from other IIA publications. (The Foundation can help with this permission.) • Materials from your own previously published works. • Unpublished materials that came from third parties (such as templates supplied from a case study

interviewee) • Charts, tables, graphs, and similar representations where, inevitably, you are using the entire

representation, since the copyrighted features are complete in themselves and inherent in the whole work.

When you send your manuscript to the Foundation, include the permission letters. Retain duplicates of all these documents for your records. Include the words “used by permission” in the source note for any material that you obtained permission to use. When you request permission to use material, please complete the following form and send it to the copyright holder:

Date of Request:

Request for Permission to Use Selected Content To Whom It May Concern: I am preparing a manuscript to be published by The Institute of Internal Auditors Research Foundation, tentatively titled: The primary author’s names are: My email address and phone number are: I request your permission to include the following material in this and all subsequent editions of the above-referenced book, in all media of expression now known or later developed and in all foreign language translations and other derivative works published or prepared by The IIA Research Foundation, or its licensees, for distribution throughout the world, and also in versions made by nonprofit organizations for use by blind or physically handicapped persons. [[AUTHORS, INSERT A REPRESENTATION OF THE MATERIAL THAT REQUIRES PERMISSION AND PROVIDE THE BIBLIOGRAPHIC INFORMATION BELOW.]] [AUTHORS, if the material you are requesting has been previously published or posted online, please include the following information in your request]: Type of source: (book, magazine, journal, published online, etc.) Authors/editor name(s): Title of the work: Title of selection being used (name of section, table, etc): Copyright date: Page numbers (or online link): Please indicate agreement by signing this letter and returning it to me. In signing, you warrant that you are the sole owner of the rights granted and that your material does not infringe upon the copyright or rights of anyone. If you do not control these rights, please let me know to whom I should apply. Please include your preferred copyright notice below (if desired). Thank you.


____________________________________________________________________________ Signature of copyright holder or authorized representative Date Title: Email and phone number: [[THE COPYRIGHT OWNER CAN INSERT THE PREFERRED COPYRIGHT NOTICE BELOW]]:


Appendix A: Executive Summary—Instructions

Executive Summary Description

An executive summary summarizes the entire report and appears at the beginning of the report.

It is usually 1-2 pages long, but it can be slightly longer if the report is more than 75 pages long.

The goal is to orient the reader and motivate him or her to read the complete report.

Authors should write a first draft of the executive summary when they begin writing the final report, but when the report is complete, they should revise the executive summary so that it matches the final product.

Executive Summary Elements These are the elements that should be included. They are listed in the order that they should usually be presented. (Please note that the examples given below are hypothetical.):

o The problem under investigation or the need for the research (1 paragraph). For example, “Audit committee charters often do not define internal audit reporting lines and methods for CAE reviews, which can negatively impact internal audit independence.”

o The purpose of the research (1-3 sentences). For example, “This research will provide CAEs with examples of best practices for what to include in audit committee charters about internal audit reporting lines and CAE reviews.”

o The essential features of the methodology (1-3 sentences). For example, “A content analysis of the audit committee charters for all Fortune 500 companies will be conducted. Charters that mention internal audit will be analyzed to identify common features and best practices.”

(If a survey is being conducted, the pertinent characteristics of the participants should be described, such as demographic information, industry, internal audit function characteristics, job titles, etc.)

o The basic or most important findings (multiple bullet points). For example:

Internal audit was not mentioned in 77% of Fortune 500 audit committee charters.

Internal audit reporting lines were defined in 15% of audit committee charters.

CAE performance evaluation was mentioned in less than 5% of audit committee charters.

The content analysis resulted in a list of 10 best practices for including internal audit in audit committee charters.

o The conclusions and the implications or applications (1 paragraph). Explain how the research can benefit the readers. For example: “The content analysis showed that audit committee charters among Fortune 500 companies often lack essential information regarding internal auditing. However, the analysis also identified well-developed statements regarding internal audit in some charters. CAEs can use information from this report to propose updates to audit committee charters that can help strengthen and define the position of internal audit in the organization, and promote internal audit independence and effectiveness.”

Adapted from The Publication Manual of the American Psychological Association, 6th edition, page 26


Appendix B: Executive Summary—Sample

Project title: Nine Elements Required for Internal Audit Effectiveness in the Public Sector Executive Summary Internal auditors in the public sector operate in an environment with unique challenges. This study used a global survey sponsored by The Institute of Internal Auditors (The IIA) to analyze the condition of the public sector worldwide regarding the elements that are necessary to establish an effective internal audit activity. The primary research questions were:

What are the greatest strengths of internal audit functions in the public sector around the world?

What are the most significant barriers to audit effectiveness faced by internal audit functions in the public sector around the world?

What are the main regional differences?

The report is based on The IIA’s Supplemental Guidance: The Role of Auditing in Public Sector Governance, 2nd edition (2012). This document defined the following nine elements as essential for an effective public sector audit activity: 1) organizational independence, 2) a formal mandate, 3) unrestricted access, 4) sufficient funding, 5) competent leadership, 6) objective staff, 7) competent staff, 8) stakeholder support, and 9) professional audit standards. These nine elements were compared to findings from The IIA’s 2010 Global Internal Audit Survey, which included responses from 2,824 public sector practitioners from 107 countries (out of a total of 13,500 individual respondents). The Internal Audit Foundation (the Foundation) conducts this global survey every five years as one of the projects for The IIA’s Global Internal Audit Common Body of Knowledge (CBOK). Highlights from the findings include:

More than two-thirds of public sector respondents indicated that internal auditing was required by law or regulation in the jurisdictions in which their organizations were based. Internal auditing was required by law or regulation the most in the Europe-Central Asia region, and the least in the United States and Canada, followed closely by the Middle East and the Asia Pacific regions.

About a fifth of public sector respondents indicated that they had been subject to coercion to change a rating or assessment or withdraw a finding in an internal audit report. Internal auditor respondents from Africa indicated that they had experienced coercion the most, while United States and Canada respondents indicated that they had experienced it the least.

About half the public sector chief audit executive (CAE) respondents indicated that an audit committee or equivalent was established in their organizations, but only a quarter of them indicated that the audit committee was involved in their appointments.

About 40% of the CAE respondents indicated that they had more than six years’ senior experience as a CAE or equivalent. CAE respondents from Latin America and the Caribbean had the most senior experience (60%). By contrast, CAE respondents from Europe-Central Asia had the least senior experience (25%).

Public sector internal auditors and their stakeholders can use the results of this study to benchmark the elements needed for success in their internal audit activity against global and regional characteristics. This information can then be used to target the most beneficial areas for improvement.


Appendix C: Survey Invitation Letter—Sample

Dear IIA Member,

One of the significant challenges for internal audit is to help improve coordination between different assurance providers in an organization. To gather additional information on this topic, we have developed a global survey that will help identify the best practices for combined assurance in an organization.

We would like to invite heads of internal audit to participate in this survey, which will take approximately 15 minutes. The survey will remain open until 13 June 2014. Please forward this e-mail to the appropriate person if needed.

The link to the survey is below:

https://tools.uclouvain.be/limesurvey191/index.php?sid=11181&lang=en

All survey responses will be treated in a completely anonymous way, and your participation would be greatly appreciated. If you have any questions about the survey, please contact [email protected], [email protected] or [email protected].

Sincerely,

Loïc Decaux and Gerrit Sarens

Gerrit Sarens and Loïc Decaux were part of the writing team that won the Larry Sawyer Research Foundation

Project of the Year award in 2012 for their book, Combined Assurance: Case Studies in a Holistic Approach to

Organizational Governance. They teach finance, accounting, and internal audit at Université Catholique de

Louvain (Belgium).

https://tools.uclouvain.be/limesurvey191/index.php?sid=11181&lang=en




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