Financial Audit Checklist Template
Audit Team members should prepare checklists for the processes, etc., they will be auditing and the Financial Audit Checklist Template can be used as a guide. While the AC1050-3 AUDIT CHECKLIST (SAMPLE) is general, audit checklists should be designed specifically to the activities and controls of each process to be audited;
- The Audit Team Leader may contribute to checklists based on their knowledge and experience. In fact, the Audit Team Leader should review individual Audit Checklists and add questions he/she believes are necessary to adequately evaluate controls/processes being audited; and
- Audit questions need not be limited to those on an individual’s Audit Checklist. The Financial Audit Checklist Template is unlikely to be all-inclusive but it serves as a useful guide and Auditors should have some flexibility to address issues as they come up in the course of the audit.
When conducting interviews, Audit Team members should use the Audit Checklist to maintain focus and ensure completeness. There should be enough questions on the Checklist to enable a thorough evaluation of activities in the audited area; however, the Audit Team Leader must recognize that Auditors may not have time to ask all questions.
Financial Audit Checklist Template Details
Format: Microsoft Word 2013 (.docx)
Category: Internal Controls
Procedure: Financial Internal Auditing Procedure AC1050
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