Audit Schedule Templates

July 20, 2017
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Auditing is a lengthy process of checking and verifying the accounts of an organization. An Audit Schedule Template can easily help you prepare a professional Audit Schedule quickly and effectively. Usually professionals prepare an Audit Schedule is prepared to guide you and your staff through the entire process of audit. So what an audit schedule contains?

In general it would contain the work to be done. The person who will do the work. And any references for support papers etc. It can contains notes on any points which may require clarification.

Before you begin writing the audit plan, you need to research the organization you are auditing. Understand the business of the organization and the various processes like accounting, inventory, sales etc. Decide which of the processes you will be auditing. You may have to write separate schedules for each process. For example you cannot audit accounts in the same way you would audit inventory or sales.

A brief history of the organization noting any apparent fluctuations in reported values, any late submissions and follow up on those, any collections due and the amount of each along with the reasons.

The tax paying history of the organization being audited should be included. Whether previous taxes have been paid or are they defaulters. Any known issues with regard to tax payment.

Basic Information

Any audit schedule would contain is information about the schedule itself. It should state

State which audit this schedule refers to detailing the organization and process.
The taxpayer’s number.
The type of organization.
Mention who can use the audit plan i.e. identify the people.
State clearly the purpose of the audit and the schedule itself
Describe in details your method of assessment
Include an organizational chart showing the hierarchy of authority so that the auditor knows whom to contact for information.

Details about the Audit Plan

Any audit plan should state the date of the last audit and a copy of the audit report. This gives the auditor an idea what to expect and which areas he should concentrate more on. This section should include:

The date of last audit
A copy of the last audit report
A list of documents to examine in order of priority
List of controls which are already in place
A copy of all forms to fill
The level of computerization in the organization

The Current Audit

Note down the details about the current audit. State clearly the time line for the audit, the controls which should be checked in priority order, and the general plan of action to be followed. Allow enough room for flexibility so that the person conducting the audit can vary the plan if the situation demands. Provide space for noting the variations and the remarks of the auditor.

When writing the audit schedule you should keep in mind that all aspects are covered and no loop holes are left open. At the same time the plan should be flexible enough so that the auditor can use his discretion and vary the schedule if the situation demands.

Audit Schedule Templates

Here is preview of a free Audit Schedule Template in MS Project 2003 format.

Audit Schedule Template