Free External Audit Checklist Template
External Audit Checklist
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Prepared by: |
[YOUR NAME] |
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Date: |
August 16, 2055 |
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Company Name: |
[YOUR COMPANY NAME] |
I. Pre-Audit Preparation
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1. Define audit objectives |
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2. Review prior audit reports |
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3. Understand client operations |
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4. Identify key stakeholders |
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5. Prepare an audit plan |
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6. Schedule audit timeline |
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7. Request necessary documents |
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II. Internal Control Assessment
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1. Evaluate control environment |
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2. Review risk assessment procedures |
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3. Assess control activities |
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4. Test information systems controls |
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5. Examine segregation of duties |
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6. Analyze documentation processes |
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III. Financial Statement Review
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1. Examine income statement |
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2. Review balance sheet |
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3. Analyze cash flow statement |
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4. Verify account balances |
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5. Confirm revenue recognition policies |
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6. Evaluate expense classifications |
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IV. Compliance Checks
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1. Review compliance with regulations |
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2. Check adherence to internal policies |
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3. Assess tax compliance |
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4. Examine contracts for compliance |
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5. Verify licensing requirements |
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V. Reporting and Recommendations
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1. Compile audit findings |
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2. Prepare audit report |
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3. Present findings to stakeholders |
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4. Discuss recommendations |
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5. Follow up on implementation of recommendations |
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