Agree the period and engagement scope
Confirm the year or period and type of engagement, and nominate one contact to coordinate information and responses. Clear requirements reduce repeated requests.
Organise the core records
Prepare the trial balance, draft statements and general ledger, and link balances to evidence. Keep an organised bank statement and reconciliation for each account.
Review balances and supporting evidence
Gather receivables and payables ageing, asset and inventory records, contracts and relevant returns. Identify differences and missing evidence rather than replacing them with unverified information.
Coordinate independent confirmations
Prepare bank, customer and supplier contact details, while following the auditor’s instructions for independent confirmations. Internal schedules are not automatically a substitute.
Agree secure information exchange
Agree the appropriate channel and access permissions. Avoid sensitive financial documents in public forms. Scheduled requests and documented responses improve follow-up.
Start with a document list, a named coordinator and a timetable. Additional evidence may be needed according to risk and the nature of your business.
General educational information, not a substitute for advice on your individual situation.
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