This checklist ensures that the organization is compliant with regulatory requirements and internal policies before an audit takes place. It helps to identify gaps and prepare necessary documentation.
Ensure all relevant industry regulations and compliance standards are reviewed and understood by the audit team.
Collect all necessary documents including financial statements, internal policies, and previous audit reports.
Identify potential risks within the processes that may affect compliance and document them for review.
Assess the effectiveness of internal controls in place to mitigate identified risks and ensure compliance.
Communicate with all relevant departments and stakeholders to ensure they are aware of the audit process and their roles.
Establish a timeline and schedule meetings with the audit team to discuss findings and any issues that arise.
Prepare and finalize the audit plan, outlining the objectives, scope, and methodology of the audit.
Perform a mock audit to identify any last-minute issues or gaps in compliance before the actual audit.
Gather feedback from the mock audit and make necessary adjustments to documentation or processes.
Ensure that all logistical aspects of the audit are confirmed, including location, technology requirements, and personnel availability.