Blank Accounts Payable Audit Checklist
Blank Accounts Payable Audit Checklist
|
Prepared by: |
[YOUR NAME] |
|
Date: |
January 5, 2055 |
|
Company Name: |
[YOUR COMPANY NAME] |
Introduction
A comprehensive accounts payable audit is essential for maintaining the accuracy, integrity, and compliance of an organization's financial processes, and this checklist offers a methodical way to assess crucial components such as vendor management, invoice handling, payments, reconciliations, reporting, compliance, and fraud prevention, allowing organizations to detect potential problems, optimize procedures, and bolster internal controls.
1. Vendor Master File
|
Audit Task |
Status (Complete/In Progress/Not Started) |
Comments/Findings |
Responsible Person |
Due Date |
|---|---|---|---|---|
|
Review vendor setup and maintenance policies |
||||
|
Verify active vendor list for duplicates |
||||
|
Ensure the vendor approval process is followed |
2. Invoices
|
Audit Task |
Status (Complete/In Progress/Not Started) |
Comments/Findings |
Responsible Person |
Due Date |
|---|---|---|---|---|
|
Verify all invoices have proper approval |
||||
|
Check invoices for correct amounts and dates |
||||
|
Ensure invoices are matched to purchase orders |
3. Payments
|
Audit Task |
Status (Complete/In Progress/Not Started) |
Comments/Findings |
Responsible Person |
Due Date |
|---|---|---|---|---|
|
Review payments for proper authorization |
||||
|
Check for duplicate payments |
||||
|
Ensure timely and accurate payment processing |
4. Reconciliations
|
Audit Task |
Status (Complete/In Progress/Not Started) |
Comments/Findings |
Responsible Person |
Due Date |
|---|---|---|---|---|
|
Perform monthly reconciliations of AP accounts |
||||
|
Ensure discrepancies are resolved timely |
5. Reporting
|
Audit Task |
Status (Complete/In Progress/Not Started) |
Comments/Findings |
Responsible Person |
Due Date |
|---|---|---|---|---|
|
Verify accurate and timely reporting of AP data |
||||
|
Ensure compliance with financial reporting |
6. Compliance
|
Audit Task |
Status (Complete/In Progress/Not Started) |
Comments/Findings |
Responsible Person |
Due Date |
|---|---|---|---|---|
|
Review compliance with tax and regulatory requirements |
||||
|
Ensure compliance with internal policies |
7. Fraud Prevention
|
Audit Task |
Status (Complete/In Progress/Not Started) |
Comments/Findings |
Responsible Person |
Due Date |
|---|---|---|---|---|
|
Review AP process for fraud risks |
||||
|
Test controls in place to prevent fraud |
