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					PLANNING/MONITORING CHECKLIST
                                                                             Pre    Post
                                                                             Year   Year
Item       Action                                                            End    End    Date Due

Planning

           Incorporate all year end processes                                 X
           Hold preliminary planning meeting                                  X
           Assess human and other resources                                   X
           Determine responsibilities                                         X
           Communicate with staff involved                                    X
           Establish year end cutoff within two weeks prior to 30 June        X
           Liaise with auditor to set agreed start date, end date and sign
           off date for audit of subsidiary organisations                     X
           Liaise with auditor to set agreed start date, end date and sign
           off date for audit of consolidated organisation                    X
           Liaise with auditor for interim work prior to year end             X
           Ensure CEO and auditor sign off on agreed audit dates              X
           Determine annual report objectives                                 X
               - communication                                                X
               - target audiences                                             X
               - theme                                                        X
               - key messages                                                 X
               - structure                                                    X
               - cost                                                         X
               - deadlines/production schedule                                X
           Plan other year end processes                                      X
           Develop timetable                                                  X
           Advise senior management                                           X
           Advise councillors                                                 X




                                                 Page 1 of 18
PLANNING/MONITORING CHECKLIST
                                                                         Pre    Post
                                                                         Year   Year
Item     Action                                                          End    End    Date Due

Monitoring

         Develop and maintain understanding and application of
         accrual accounting to transactions                               X
         Check audit report from previous year                            X
         Review current accounting practices and impact on year end       X
         Review and update Accounting Manual                              X
         Ensure transactions identified and classified correctly          X
         Apply materiality test in preparing accounts                     X
         Review and update registers, eg register of enterprises,
         register of interests, register of delegations                          X
         Coordinate year end entries and adjustments with sections               X
         Create and maintain year end worksheets and records                     X
         Review all documentation and worksheets for completeness                X
         Perform analytical review of annual accounts and identify
         significant variances                                                   X
         Present preliminary statements to council                               X      15-Sep
         Present statements to auditor                                           X
         Deal with audit queries and adjustments to statements                   X
         Re-present statements to council with audit amendments if
         any                                                                     X
         Ensure management certificate signed                                    X
         Receive certificate from auditor                                        X
         Ensure council adopts financial statements including audit
         certificate                                                             X      30-Nov
         Forward copy of audited financial statements to Department of
         LG&P                                                                    X
         Review policy about internal audit (every three years)                  X
         Review policy about audit committee (every three years)                 X

Year end processes complete                                                      X




                                             Page 2 of 18
ANNUAL REPORT CHECKLIST
                                                                                Pre    Post
                                                                                Year   Year
Item      Action                                                                End    End    Date Due

Design and preparation

          Discuss the report's design                                            X
          Review and approve the report's design                                 X
          Confirm style of graphics                                              X
          Consider use of photography                                            X
          Meet with key people involved in writing the report                    X
          Produce a written brief confirming direction                           X
          Assess information to form the skeleton of the report                  X
          Gather information                                                     X      X
          Check on the financial statements                                             X
          Prepare text                                                                  X
          Ensure key messages are repeated throughout                                   X
          Ensure information is accurate and appropriate                                X
          Edit text for continuity, flow and accuracy                                   X
          Review text against agreed objectives                                         X
          Finalise text                                                                 X

Production

          Book printing well in advance                                          X
          Commence production                                                           X
          Proofread text in its designed form                                           X
          Confirm availability of preferred printer                                     X
          Confirm availability of paper stock                                           X
          Confirm how the report is to be bound                                         X
          Confirm the number of copies                                                  X
          Send to the printer                                                           X
          Check proofs                                                                  X
          Final proofs signed off by council                                            X
          Print the annual report                                                       X
          Submit to council for adoption                                                X      30-Nov

Distribution

          Decide where the reports are to be delivered                           X
          Decide how reports are to be distributed                               X
          Sample checked by Project Manager before distribution                         X
          Arrange mailing                                                               X
          Label envelopes                                                               X
          Organise accompanying correspondence                                          X
          Check printed reports delivered to distribution point                         X
          Undertake mailout                                                             X
          Forward copies to Department of LG and Planning                               X
          Distribute reports to alternative distribution points                         X
          Write letter to be included in rates notices informing availability
          of report at council office                                                   X
          Distribution completed within set timeframe                                   X




                                                 Page 3 of 18
ANNUAL REPORT CHECKLIST
                                                           Pre    Post
                                                           Year   Year
Item     Action                                            End    End    Date Due

Evaluation

         Review the annual report process                   X      X
         Obtain and review informal feedback                X      X
         Obtain and review formal feedback                  X      X
         Review other local government annual reports       X      X
         Review other annual reports                        X      X




                                            Page 4 of 18
STATEMENT OF FINANCIAL PERFORMANCE CHECKLIST
                                                                       Pre    Post
                                                                       Year   Year
Item      Action                                                       End    End    Date Due

Revenue from ordinary activities

Note     Raise all possible invoices                                    X
         Issue credit notes                                             X
         Invoice for progress payments as per agreements                X
         Invoice where job complete and all costs accounted for         X
         Review contract retentions for payment                         X
         Review revenue accounts for reasonableness                            X
         Bring to account unearned revenue and finalise                        X
         Take up commission for fire levy                                      X
         Finalise rates and utility charges                                    X
         Calculate discounts and pensioner remissions                          X
         Finalise fees and charges                                             X
         Finalise sales contracts and recoverable works                        X
         Analyse operating grants, contributions and donations                 X
         Calculate gain on sale of developed land                              X
         Finalise interest received from investments                           X
         Finalise interest from rates and utility charges                      X
         Finalise other interest                                               X
         Calculate share of joint venture profit                               X
         Finalise dividends received                                           X
         Finalise any other revenue from operating activities                  X
         Review miscellaneous accounts for large balances                      X
         Analyse capital grants, contributions and donations                   X
         Calculate gain on disposal of capital assets                          X
         Calculate gain on market value adjustment to long term debt           X
         Finalise any other capital income                                     X

Expenses from ordinary activities

Note     Review liability accounts for payments                         X
         Request payment of debit balances from suppliers               X
         Reimburse petty cash and take up expenses                      X
         Review expense accounts for reasonableness                            X
         Review repairs and maintenance items to be capitalised                X
         Ensure all internal charges and recoveries made                       X
         Calculate employee expenses                                           X
         Finalise capitalised employee expenses                                X
         Calculate cost of goods sold                                          X
         Finalise materials and services                                       X
         Calculate depreciation and amortisation                               X
         Depreciate quarry rehabilitation costs                                X
         Finalise bank charges                                                 X
         Finalise any other expenses from operating activities                 X
         Review miscellaneous accounts for large balances                      X
         Calculate devaluation of capital assets                               X




                                             Page 5 of 18
STATEMENT OF FINANCIAL PERFORMANCE CHECKLIST
                                                                Pre    Post
                                                                Year   Year
Item       Action                                               End    End    Date Due

Borrowing costs

Note       Finalise finance costs charged by QTC                        X
           Finalise finance costs charged on other loans                X
           Finalise interest on finance leases                          X


Profit(loss) from extraordinary item
Note       Specify extraordinary item/s                                 X
           Calculate profit(loss) from extraordinary item/s             X

Increase (decrease) in asset revaluation reserve

           Calculate revaluation increments to ARR                      X
           Make any other adjustments to capital                        X

Statement of Financial Performance completed                            X      15-Sep
         Reconcile to Statement of Financial Position                   X      15-Sep




                                                 Page 6 of 18
STATEMENT OF FINANCIAL POSITION
                                                                        Pre    Post
                                                                        Year   Year   Date
Item     Action                                                         End    End    Due

Current Assets

Cash assets

Note     Arrange for bank statement as at balance date                   X
         Arrange for bank audit certificate as at balance date           X
         Review bank reconciliation for stale cheques                    X
         Review bank reconciliation for unusual items                    X
         Reconcile suspense accounts and clear cash transactions         X
         Review suspense/clearing accounts (bring to zero)                      X
         Reconcile petty cash to general ledger                                 X
         Reconcile cash at bank and on hand                                     X
         Reconcile deposits on call                                             X
         Reconcile short term money market instruments                          X
         Reconcile contract retentions to general ledger                        X
         Value current investments at historical cost at balance date           X
         Reconcile cash assets to the statement of cash flows cash
         balance                                                                X

Receivables

Note     Pay out credit balances                                         X
         Review for interim adjustments                                  X
         Review for final adjustments                                           X
         Charge interest on overdues in accordance with policy                  X
         Review contracts and other arrangements for receivables                X
         Reconcile and close off subsidiary ledger                              X
         Account for outstanding rates and utility charges                      X
         Account for outstanding fees and charges                               X
         Account for outstanding grants and subsidies                           X
         Account for other outstanding debtors                                  X
         Review for bad and doubtful debts                                      X
         Calculate provision for doubtful debts                                 X
         Reconcile current loans and advances                                   X

Inventories

Note     Carry out stocktake of stores and raw materials                 X
         Value and take up adjustments to stores and raw materials       X
         Reconcile to general ledger                                     X
         Calculate provision for slow moving and obsolete items                 X
         Value treated water in storage                                         X
Note     Account for land held for development and sale                         X
         Classify as current and non-current assets                             X
         Reconcile to general ledger                                            X




                                              Page 7 of 18
STATEMENT OF FINANCIAL POSITION
                                                                        Pre    Post
                                                                        Year   Year   Date
Item      Action                                                        End    End    Due

Other financial assets

Note      Request audit certificates/documentation as at balance date    X
          Accrue oustanding interest receivable                                 X
          Reconcile to general ledger and external documentation                X
          Itemise restricted and unrestricted portions                          X
          Reconcile prepayments to general ledger                               X
             - Insurance                                                        X
             - Workers compensation (premium in advance only)                   X
             - Maintenance contracts                                            X
             - Service contracts                                                X
             - Telephone rent                                                   X
             - Other rent                                                       X
             - Subscriptions                                                    X
             - Wages paid in advance                                            X

Non-Current Assets

Receivables

Note      Reconcile non-current loans and advances                              X

Inventories

Note      Value non-current land held for development and sale                  X

Other financial assets

Note      Request audit certificates/documentation as at balance date    X
          Value non-current investments at net market value                     X
          Accrue outstanding interest receivable                                X
          Reconcile to general ledger and external documentation                X
          Itemise restricted and unrestricted portions                          X

Investments accounted for using the equity method

Note      Value non-traded shares                                               X
          Reconcile non-traded shares                                           X




                                              Page 8 of 18
STATEMENT OF FINANCIAL POSITION
                                                                         Pre    Post
                                                                         Year   Year   Date
Item      Action                                                         End    End    Due

Property plant and equipment (PP&E)

Note      Carry out fixed asset stocktake                                 X
          Reassess residual value and useful life                         X
          Establish whether revaluation is required                       X
          Revalue assets as necessary and post entries                    X
          Account for additions at cost                                          X
          Account for assets acquired at no cost                                 X
          Account for disposals                                                  X
          Account for internal transfers                                         X
          Account for accumulated depreciation written off in period             X
          Adjust accumulated depreciation on asset revaluation                   X
          Reconcile and close off subsidiary ledger                              X
          Prepare PP&E schedule                                                  X

Capital works in progress

Note      Charge work-in-progress for labour, raw materials, supplies,
          machinery hire and overhead recoveries                          X
          Take up final costs for the year                                       X
          Review for final adjustments and reconcile to general ledger           X
          Transfer completed internal projects to depreciable PP&E               X

Current Liabilities

Accounts Payable

Note      Review for interim adjustments                                  X
          Review outstanding purchase orders                              X
          Take up all available supplier invoices                         X
          Reconcile and close off subsidiary ledger                              X
          Reconcile accruals to general ledger                                   X
            - Wages                                                              X
            - Superannuation                                                     X
            - Fringe benefits tax                                                X
            - PAYG tax                                                           X
            - GST                                                                X
            - Electricity                                                        X
            - Telephone calls                                                    X
            - Rent                                                               X
            - Audit and accounting fees                                          X
            - Legal costs                                                        X
            - Interest                                                           X
            - Travel expenses                                                    X
            - Repairs and maintenance                                            X
            - Security                                                           X
            - Motor vehicle expenses                                             X
            - Plant and machinery expenses                                       X
            - Other goods and services                                           X
            - Capital items                                                      X




                                               Page 9 of 18
STATEMENT OF FINANCIAL POSITION
                                                                          Pre    Post
                                                                          Year   Year   Date
Item       Action                                                         End    End    Due

Tax liability

           Prepare GST certificate and forward to the Minister for LG      X            15-Sep
Note       Review GST payable                                                     X
           Deduct GST recoverable                                                 X
           Reconcile BAS to general ledger                                        X
           Account for employee related tax payable                               X

Interest bearing liabilities

Note       Value current borrowings at historical value at balance date           X
           Reconcile to general ledger and external documentation                 X
           Account for bank overdraft                                             X
           Account for QTC loans                                                  X
           Account for other loans                                                X
           Account for finance leases                                             X

Provisions

           Calculate sick leave liability                                         X
           Calculate annual leave liability                                       X
           Calculate current long service leave liability                         X
           Estimate costs of quarry rehabilitation                                X
           Reassess provision for quarry rehabilitation                           X

Other current liabilities

           Request report on o/s matters from legal representatives        X
           Request unbilled fees report from legal representatives         X
           Account for unearned lease premiums received in advance                X
           Account for other current liabilities                                  X

Non-Current Liabilities

Interest bearing liabilities

           Value non-current borrowings at discharge value at year end            X
           Reconcile to general ledger and external documentation                 X
           Account for QTC loans                                                  X
           Account for other loans                                                X
           Account for finance leases                                             X
           Reconcile the movement in finance leases                               X

Provisions

           Calculate non-current long service leave liability                     X

Other non-current liabilities

           Account for other non-current liabilities                              X




                                                 Page 10 of 18
STATEMENT OF FINANCIAL POSITION
                                                                       Pre    Post
                                                                       Year   Year   Date
Item     Action                                                        End    End    Due

Community Equity

Asset revaluation reserve

         Analyse movement in asset revaluation reserve                         X

Other reserves

         Account for movement of appropriations to and from reserves           X
         Analyse movement in capital expenditure reserves                      X
         Analyse movement in recurrent expenditure reserves                    X

Retained surplus

         Calculate council capital                                             X
         Calculate available surplus                                           X
         Account for retained surplus                                          X

Statement of Financial Position completed                                      X     15-Sep




                                            Page 11 of 18
STATEMENT OF CASH FLOWS
                                                                             Pre    Post
                                                                             Year   Year   Date
Item      Action                                                             End    End    Due

Cash flows from operating activities

          Account for receipts from customers                                        X
          Account for payments to suppliers and employees                            X
          Account for dividends received                                             X
          Account for interest received                                              X
          Account for joint venture profit distribution received                     X
          Account for revenue(expenditure) on extraordinary items                    X
          Account for borrowing costs                                                X
          Account for any other cash flows from operating activities                 X
          Prepare reconciliation of result from ordinary activities to net
          cash inflow (outflow) from operating activities                            X

Cash flows from investing activities

          Account for payments for property plant and equipment                      X
          Account for payments for equity investments                                X
          Account for net transfer (to)from cash investments                         X
          Account for net movement in loans to community                             X
          Account for proceeds from sale of PP&E                                     X

Cash flows from financing activities

          Account for proceeds from borrowings                                       X
          Account for repayment of borrowings                                        X
          Account for repayments made on finance leases                              X

Statement of Cash Flows completed                                                    X     15-Sep




                                                 Page 12 of 18
STATEMENT OF CHANGES IN EQUITY
                                                                            Pre    Post
                                                                            Year   Year   Date
Item      Action                                                            End    End    Due

Retained surplus

         Account for transfers of appropriations from(to) other reserves            X
         Analyse movement in retained surplus                                       X

Asset revaluation reserve

         Account for asset revaluation adjustments                                  X
         Analyse movement in asset revaluation reserve                              X

Other reserves

         Account for transfer of appropriations to(from) retained surplus           X
         Analyse movement in other reserves                                         X

Statement of Changes in Equity completed                                            X     15-Sep




                                              Page 13 of 18
ADDITIONAL NOTES
                                                                            Pre    Post
                                                                            Year   Year
Item      Action                                                            End    End    Date Due

These notes are additional to notes required to support the financial statements

Accounting Policies

          Update accounting policies in accordance with legislation,
          regulations and accounting standards.                              X

Analysis of results by function

          Define the nature and objectives of each function                  X
          Calculate the carrying amount of assets for each function                 X
          Calculate the revenue for each function                                   X
          Disclose components of grants separately                                  X
          Calculate expenses for each function                                      X
          Reconcile analysis to financial statements                                X

Conditions over contributions

          Disclose grants for expenditure on infrastructure                         X
          Disclose contributions for expenditure on infrastructure                  X
          Recognise grants and contributions from previous reporting
          periods that have been expended during the year                           X
          Itemise cash assets subject to a restriction                              X

Revision of accounting estimates

          Disclose revision of depreciation rates                                   X
          Disclose revision of other accounting estimates                           X

Cost of Sales

          Calculate annual cost of sales for water inventory asset                  X

Property plant and equipment valuations

          Disclose method of valuation of land                                      X
          Disclose method of valuation and depreciation of buildings                X
          Disclose method of valuation and depreciation of plant and
          equipment                                                                 X
          Disclose method of valuation and depreciation of infrastructure
          assets                                                                    X
          Disclose method of valuation and depreciation of other assets             X
          Disclose names of valuers and dates of valuations                         X

Finance facilities

          Disclose details of overdraft facility                                    X
          Disclose details of working capital facility                              X




                                                 Page 14 of 18
ADDITIONAL NOTES
                                                                         Pre    Post
                                                                         Year   Year
Item      Action                                                         End    End    Date Due

Operating leases

          Disclose commitments for minimum lease payments to non-
          cancellable operating leases                                           X

Finance leases

          Disclose movements in finance leases                                   X
          Disclose commitments for minimum lease payments                        X
          Classify finance leases as current and non-current                     X

Contractual commitments

          Disclose contractual commitments not recognised in the
          financial statements                                                   X

Capital commitments

          Disclose commitments for assets contracted for but not
          recognised as liabilities                                              X
          Disclose commitments for expenditures                                  X

Contingent liabilities

          Calculate potential loss on claims pending against council             X
          Disclose balance of loan guarantees                                    X
          Give details of guaranteed loans                                       X
          Disclose maximum exposure under bank guarantee for self-
          insurance scheme                                                       X
          Recognise exposure to local government mutual liability pool           X
          Disclose any other contingent liabilities                              X

Non-cash financing and investing activities

          Disclose acquisition of P&E by finance lease                           X
          Disclose acquisition of shares issued for no consideration             X
          Disclose other non-cash financing and investing activities             X

Superannuation

          Disclose details of superannuation scheme                              X
          Disclose amount of superannuation contributions paid on
          behalf of employees                                                    X
          Disclose amount of superannuation contributions paid on
          behalf of elected members                                              X




                                              Page 15 of 18
ADDITIONAL NOTES
                                                                             Pre    Post
                                                                             Year   Year
Item      Action                                                             End    End    Date Due

Joint venture

          Disclose details of joint venture                                          X
          Disclose share of joint venture revenue and expenses                       X
          Disclose share of joint venture retained profits                           X
          Disclose share of joint venture assets and liabilities                     X
          Disclose movement in the carrying amount of investment in
          joint venture                                                              X

Financial instruments

          Disclose credit risk exposures                                             X
          Analyse interest rate risk on financial assets                             X
          Analyse interest rate risk on financial liabilities                        X
          Disclose interest rate risk                                                X
          Disclose net fair value of financial assets and liabilities                X

Trust funds

          Reconcile and make necessary payments or transfers                  X
          Ensure all trust fund receipts to which council is entitled are
          recognised as revenue                                                      X
          Ensure all trust fund receipts remaining in trust are recognised
          as an asset                                                                X
          Disclose weighted average interest rates                                   X

National Competition Policy

          Disclose type 1 and type 2 activities                                      X
          Disclose type 3 activities to which the code of competitive
          conduct applies                                                            X
              - Roads business activity                                              X
              - Business activity                                                    X
          Disclose activities to which the Code of Competitive Conduct
          is applied                                                                 X
          Disclose financial performance of activities subject to
          competition reforms                                                        X




                                                 Page 16 of 18
ADDITIONAL NOTES
                                                                    Pre    Post
                                                                    Year   Year
Item     Action                                                     End    End    Date Due

Additional Schedules

         Reconciliation of retained surplus to cash holdings                X
         Movement in working capital cash                                   X
         Statement of Appropriations                                        X
         Community Equity                                                   X
         Capital Funding Statement                                          X
         Statement of Original Budget compared to Actual Results            X
         Movements in capital account                                       X
         Explanations of significant variances between budget and
         actual figures                                                     X
         Financial ratios                                                   X

Additional Notes completed                                                  X      15-Sep




                                            Page 17 of 18
AUDIT WORK PAPERS CHECKLIST
Supporting Work Papers

Provide as much supporting work papers as possible by electronic format ie on disk
Revenue invoices 1 July - 30 June audit year
Revenue invoices 1 July - YTD post balance date
Expenditure payments (Cheques, EFT, etc) 1 July - 30 June audit year
Expenditure payments 1 July to YTD post balance date
Payroll - spreadsheet - employee, level, date commenced, date left, base pay, group certificate gross
Cash - year-end bank reconciliations and bank statements
Debtors rates and others - trial balance 30 June
Debtors rates and others - aged analysis supporting provision for doubtful debts
Debtors rates and others - credit notes, write-offs and other adjustments 1 July - 30 June
Debtors rates and others - trial balance post balance date
Debtors rates and others - credit notes, write-offs and other adjustments post balance date
Inventory report 30 June or stocktake by product including average cost and total units on hand
Inventory summary of stock movements for year by product no. ($ & no.) ie open balance + purchases - sales
Inventory write-offs and stock adjustments ($ & no.) 1 July to 30 June
Investments - year end stateemnts supporting balances
Non current assets - final year end fixed asset register including all details
Non current assets - additions report 1 July - 30 June
Non current assets - disposals report 1 July - 30 June
Non current assets - depreciation report 1 July - 30 June
Non current assets - reconciliation and listing for work-in-progress assets
Creditors - trial balance 30 June
Creditors - trial balance 31 July and current post balance date
Creditors - aged analysis
Employee provisions - leave report - employee, leave balances, pay rate at 30 June
Loans (Borrowings) - QTC and other creditor statements
General ledger - trial balance 30 June
General ledger - credits posted to expenditure and asset accounts - SQL query?
General ledger - journals 1 July - 30 June including journal type
General ledger - journals 1 July - YTD post balance date
General ledger - total cash receipts and cash payments posted to each account - SQL query?
Bank reconciliations statement - operating and trust accounts - bank confirmation
Outstanding cheque listing - follow-up action
Cash take worksheets - float/petty cash counts
S/T investment certificates - bank confirmation
QTC cash fund - QTC confirmation

NB
See the QAO Local Government Quality Assurance Checklist for further audit
requirements




                                              Page 18 of 18

				
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