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Pre-Audit Preparation Checklist

The document outlines a pre-audit checklist for scheduling an audit, which includes preparing documentation like bank accounts, board meeting minutes, unusual activities, attorneys used, inventory procedures, and external and internal business factors to review with the auditor. It also includes reviewing accounting and computer operations, the nature and timing of preliminary and final audit work, account balance reconciliation, sampling transactions, and audit adjustments. The checklist helps ensure the necessary documentation and planning is completed prior to the audit.

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Rosley Ramly
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© Attribution Non-Commercial (BY-NC)
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2K views13 pages

Pre-Audit Preparation Checklist

The document outlines a pre-audit checklist for scheduling an audit, which includes preparing documentation like bank accounts, board meeting minutes, unusual activities, attorneys used, inventory procedures, and external and internal business factors to review with the auditor. It also includes reviewing accounting and computer operations, the nature and timing of preliminary and final audit work, account balance reconciliation, sampling transactions, and audit adjustments. The checklist helps ensure the necessary documentation and planning is completed prior to the audit.

Uploaded by

Rosley Ramly
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
  • Pre-Audit Checklist
  • Audit Forms and Templates
  • Audit Controls Documentation
  • Findings and Responses
  • Management Response Template

Audit Program Area: Pre-Audit Checklist

AUDIT PROCEDURES Ref. Done By Time Spent Date Expected Date Finished Remarks

Schedule a pre-audit meeting with your auditor to address the following planning items:

Prepare a listing of bank accounts, investments, and debt by financial institution. Maintain a board minutes file to provide to the auditors. Highlight and address unusual activities during the fiscal year. Provide a list of attorneys retained or from whom services were received. Review inventory procedures (if applicable) relating to year-end amounts and valuation. Review external factors affecting the business (economy, competition, regulation, and accounting practices). Review internal factors affecting the business (change in ownership, significant changes in operating revenue, expense or debt, restructuring, new lines, products, or activities). Review and document the accounting and computer operations for: Transaction flow. Change in personnel. New technology. Controls Review the nature and timing of preliminary audit work (before year-end) and final audit work (after year-end records are closed). Review the nature and extent of account balance reconciliation and the form this information should be provided. Review the aspects of sampling from transactions (disbursements, payroll, sales, receipts) or year-end balances (accounts receivable, accounts payable). Review procedures relating to audit adjustments and the process and approval from these entries.

Checked By:

Audit Program

Audit Procedure

Control Objective

Risk if Objective Not Met

Control Technique

Workpaper Reference

Performed By

Date Expected

Date Completed

Budget Hours

Actual Hours

Document Reference

Source

Reviewed By

Remarks/Comments

AREA:

Process

Control Objective

Risk

Control Considerations

Assertion E,A,C,V,P

Description of control

Documentation W/P Ref.

Do controls meet objective? Yes/No

Test W/P Ref

Testing exceptions noted? Yes/No

Resolution / remediation/ comments W/P Ref

Audit Program Area


Global Ref No, Audit Procedure Control Objective Risks

Control Activity Number

Control KeyControl? Frequency Description

Owner

Exceptions

Type

Document Reference

Mapping to Standards

AREA DATE COMPLETED: COMPLETED BY: Question

Yes No

Comment

Finding Ref #

Control Testing

Finding

Management Response & Treatment

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