examination report
An examination report is a formal written report that summarizes the findings and conclusions of an examination conducted by a regulatory, administrative, or investigative authority. Examination reports are used in multiple legal and regulatory contexts to document the results of an official review, audit, inspection, or evaluation.
Examination reports typically include the scope and purpose of the examination, factual findings, supporting documentation or evidence reviewed, as well as proposed actions, adjustments, or remedies (if applicable).
In the context of taxes, the Internal Revenue Service (IRS) issues an examination report at the end of an audit. The report identifies proposed changes to the taxpayer’s return, the legal basis for the adjustments, and the amount of additional tax, penalties, or interest that may be owed. The IRS communicates these findings through a Letter 525 (also called a General 30-Day Letter), which gives the taxpayer the opportunity to agree with the findings or challenge them through a written appeal.
In banking and regulatory supervision, federal and state financial regulators (such as the Office of the Comptroller of the Currency) issue examination reports after reviewing a financial institution’s safety, soundness, and regulatory compliance. These reports may include supervisory ratings and required corrective actions.
Examination reports may be used as evidence in administrative proceedings or litigation if the findings are disputed.
[Last reviewed in November of 2025 by the Wex Definitions Team]
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