Have these ready before fieldwork begins. Items that do not apply can be marked “n/a”. A missing item should be recorded with a date by which it will be provided.
1. Books and statements
- Trial balance, with the ledgers behind each line
- Draft financial statements and notes, agreed to the trial balance
- Journal entries made after the year end that affect the year
- Details of the accounting software and, for a company, confirmation that the audit-trail feature is on
2. Cash, banks, and borrowings
- Bank statements and reconciliations for each account at the year end
- Bank confirmations, or authority for the auditor to obtain them
- Loan statements, sanction letters, and security details
3. Assets and inventory
- Fixed asset register and invoices for additions in the year
- Title documents for land and buildings
- Stock records, count sheets, and the valuation workings
4. Receivables and payables
- Debtor and creditor lists with ageing
- Balance confirmations, or statements from the larger parties
- Details of disputed balances, claims, and contingent liabilities
5. Statutory and tax records
- Statutory registers, board and shareholder minutes, and returns filed in the year
- Challans and returns for income tax deducted and collected at source, GST, provident fund, and ESI
- Earlier tax returns, assessment orders, and notices
- For a tax audit: total turnover or gross receipts, cash receipts and payments for the year, and the details of loans, deposits, and large payments, including those made by journal entry
6. Management representations
- Related-party list and transactions
- Commitments and subsequent events since the year end
- Person nominated to answer the auditor’s queries
Entity ____________________ Year ____________ Checked by ____________________ Date ____________