General Financial Oversight

Review of the annual budget and comparison with actual expenses

• Yes

• No

Audit of cash handling procedures

• Yes

• No

Verification of financial reports' accuracy

• Yes

• No

Examination of bank reconciliations

• Yes

• No

Asset Management

Verification of fixed assets inventory

• Yes

• No

Check for proper recording of new assets and disposals

• Yes

• No

Inspection of lease agreements and contracts

• Yes

• No

Liabilities and Payables

Review of accounts payable process

• Yes

• No

Examination of accrued expenses

• Yes

• No

Verification of debt obligations and terms

• Yes

• No

Revenues and Receivables

Audit of billing procedures for accuracy

• Yes

• No

Review of accounts receivable and aging

• Yes

• No

Verification of revenue recognition practices

• Yes

• No

Payroll and Benefits

Review of payroll processes for compliance and accuracy

• Yes

• No

Examination of employee benefits allocation and funding

• Yes

• No

Verification of tax withholdings and submissions

• Yes

• No

Compliance and Regulations

Check for adherence to financial regulatory requirements

• Yes

• No

Review of compliance with tax laws

• Yes

• No

Examination of internal controls and fraud prevention measures

• Yes

• No