Docstoc

Financial Audit Checklist Finance and Investments

Document Sample
Financial Audit Checklist Finance and Investments Powered By Docstoc
					A financial audit checklist should be used as a basis for identifying key items for the
financial reporting and disclosure process. This checklist has been prepared in
conformity with Generally Accepted Accounting Principles (GAAP) in the United States.
Additionally, this template can be customized to provide for any additional industry-
specific language that may be necessary. This document should be used by small
businesses and other entities that want to validate business expenditures.
                      FINANCIAL AUDIT CHECKLIST
                                                                      Yes          No
Financial Audit Checklist:
(Instruction: For easy tracking, check-off each item as it becomes
available.)


1.   Corporate bylaws                                                 ______       ______

2.   Board minutes and resolutions                                    ______       ______

3.   List of board members and directors                              ______       ______
     Name, address, position, responsibilities

4.   Attorney information, as approved by board members               ______       ______
     Name, address, position, responsibilities

5.   Auditor information, as approved by board members                ______       ______
     Name, address, responsibilities

6.   Personnel files (all personnel, current and as of prior audit)   ______       ______


7.   Legal subpoena’s and court documents, as applicable              ______       ______



8.   Disclosures, prior period                                        ______       ______



9.   Audited financials, copy of prior period                         ______       ______



10. Management discussion and analysis, as applicable                 ______       ______



11. Lease and rental agreements                                       ______       ______




© Copyright 2011 Docstoc Inc.                                                  2
                                                                     Yes          No
Financial Audit Checklist:
(Instruction: For easy tracking, check-off each item as it becomes
available.)


12. Inter-company agreements and schedules                           ______       ______



13. Budget ordinance, as applicable                                  ______       ______



14. Corporate tax returns, latest filing period                      ______       ______



15. Payroll tax returns, all four quarters, current audit year       ______       ______



16. Financial statements, as prepared by management                  ______       ______



17. Trial balance, period ending                                     ______       ______



18. General ledger, full detail for reporting period                 ______       ______



19. Bank account statements, all accounts                            ______       ______
    current audit year and up to time of audit

20. Bank statement reconciliations, all accounts                     ______       ______
    for the reporting period and all accounts

21. Fixed asset detail                                               ______       ______
    Detail should include a description of each asset,
    including cost detail and date of acquisition or retirement




© Copyright 2011 Docstoc Inc.                                                 3
                                                                            Yes         No
Financial Audit Checklist:
(Instructions: For easy tracking, check-off each item as it becomes
available.)


22. Accounts receivable                                                    ______       ______
    Detailing listing and/or schedule of open (unpaid) customer invoices
    as of the end of the reporting period

23. Accounts payable                                                       ______       ______
    Detailing listing and/or schedule of open (unpaid) vendor invoices
    as of the end of the reporting period

24. Inter-company / inter-account detailed schedule, as applicable         ______       ______

25. Accrued wages at the period end, as applicable                         ______       ______

26. Vacation and sick hours and rate, actual and accrued                   ______       ______

27. Deferred revenue schedule, for the reporting period                    ______       ______

28. Receipts schedule, for the reporting period                            ______       ______

29. Notes receivable and / or loan schedules                               ______       ______

30. Notes payable and / or loan schedules                                  ______       ______

31. Check registers, for the reporting period                              ______       ______

32. Schedule of taxes paid and copy of tax bills                           ______       ______

33. Schedule of legal fees paid and copy of legal bills                    ______       ______

34. Schedule of sub-contract fees paid and copy of sub-contract bills      ______       ______

35. Schedule of cash paid out / petty cash                                 ______       ______

36. Interest
				
DOCUMENT INFO
Shared By:
Tags:
Stats:
views:643
posted:1/4/2012
language:English
pages:5
Description: A financial audit checklist should be used as a basis for identifying key items for the financial reporting and disclosure process. This checklist has been prepared in conformity with Generally Accepted Accounting Principles (GAAP) in the United States. Additionally, this template can be customized to provide for any additional industry-specific language that may be necessary. This document should be used by small businesses and other entities that want to validate business expenditures.