Accounting Audit Procedure Checklist

Ensure a thorough and efficient audit by following these systematic steps throughout the audit process.

Pre-Audit Planning

• Define audit objectives

• Assess risks and materiality

• Review prior audit findings

• Identify key personnel

• Gather necessary documents

Understanding the Business

• Evaluate organizational structure

• Understand accounting policies

• Review industry regulations

• Assess IT systems

Internal Control Assessment

• Test internal control effectiveness

• Identify control weaknesses

• Review segregation of duties

• Document internal control processes

Testing Transactions and Balances

• Perform substantive testing

• Verify existence of assets

• Confirm liabilities

• Check transaction accuracy

Analytical Procedures

• Compare financial ratios

• Analyze trends over time

• Investigate significant variances

Documentation Review

• Ensure supporting documentation is complete

• Review journal entries

• Assess compliance with standards

Final Audit Review

• Summarize findings

• Discuss results with management

• Prepare audit report

Post-Audit Follow-Up

• Review management's action plans

• Schedule follow-up audits if necessary

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