Financial Audit Preparation Checklist ( FINANCE )

This checklist is designed to ensure that all necessary documents and procedures are completed and in order prior to conducting a financial audit. It helps streamline the audit process and ensures compliance with financial regulations.

• Gather Financial Statements

  Collect the last three years of financial statements, including balance sheets, income statements, and cash flow statements.

• Compile Supporting Documents

  Ensure all necessary supporting documentation for transactions is collected, such as invoices, receipts, and contracts.

• Review Internal Controls

  Assess and document the company's internal control systems to ensure they are functioning correctly.

• Prepare Audit Schedule

  Create a detailed schedule for the audit process, including timelines and responsible parties for each stage.

• Notify Stakeholders

  Inform all relevant stakeholders about the upcoming audit and any required actions on their part.

• Conduct Pre-Audit Meeting

  Arrange a meeting with the audit team and relevant personnel to discuss the audit process and expectations.

• Finalize and Submit Audit Plan

  Complete and submit the audit plan to the appropriate authorities for approval before the audit begins.