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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
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
Owner
Exceptions
Type
Document Reference
Mapping to Standards
Yes No
Comment
Finding Ref #
Control Testing
Finding