AUDIT PROGRAM

CLIENT: ___________________________________________________
PERIOD: ___________________________________________________
SUBJECT: HEAD OFFICE AND BRANCH
Est.
Hrs
.
Phase/
Level
Procedures
!P
Re". B#
Co$$e%ts!E&'()%)t*o%
s
AUDIT OBJECTIVES
To ensure that:
A. The balances represent all inter company, inter branch
and head office expenses, amount owed.
B. The mathematical accuracy of the account is correct.
C. Amounts represents all proper charges or amounts that
can reasonably be expected to realize through future
operations or otherwise and are properly recorded.
. The balances are properly described and classified and
ade!uate disclosures with respect to these amounts
"including disclosures of amounts that ha#e been
pledged, discounted or sold with recourse or are with
related parties$ ha#e been made.
SUBSTANTIVE PROCEDURES
1. Overall Analytial Revie!
%.% &a#e the client prepare a listing of head office '
branch, recei#able ' payable. Compare balances with
pre#ious year and in#estigate significant differences.
%.( Test the clerical accuracy of the footings
of the listing and trace the totals to the general ledger
control accounts.
%.) *erform analytical re#iew of the balances on the lead
schedule.
%.+ etermine whether the amounts are of a short,term
nature and are properly classified in the financial
statements.
". C#n$ir%ati#ns
(.% -e!uest independent confirmations in respect of
abo#e mentioned balances.
(.( -e#iew independent confirmation replies to #erify
balances due to ' from other offices.
&. Re#niliati#n
).% .or nostro accounts obtain inter,office reconciliation
statements prepared by client.
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AUDIT PROGRAM
CLIENT: ___________________________________________________
PERIOD: ___________________________________________________
SUBJECT: HEAD OFFICE AND BRANCH
Est.
Hrs
.
Phase/
Level
Procedures
!P
Re". B#
Co$$e%ts!E&'()%)t*o%
s
).( Compare clients balances and other offices balances
with clients /0 and statements recei#ed from other
offices.
).) 1nsure that nostro account confirmation from other
offices are in agreement with statement balances.
).+ Chec2 footings of reconciliations.
).3 Trace reconciling items to detailed statements and
clients ledger accounts.
).4 -e#iew reconciliation and chec2 subse!uent
clearances of reconciling items in nostro statements
and ledger.
'. Other tests
+.% 5n#estigate uncleared and unusual, large and old
outstanding balances with appropriate supports and
correspondence. Consider for 60 if not satisfactorily
explained.
+.( 1nsure that .oreign Currency Balances are con#erted
at the appropriate rate ruling at year,end, consistent
with clients policy for current and pre#ious year.
Other tests as (ee%e( neessary
)ana*e%ent Letter
*repare management letter points including:
5nternal control wea2nesses7
Business impro#ement opportunities7
0egal non,compliance7
Accounting system deficiencies7 and
1rrors and irregularities not material at the
financial statements le#el.
Disl#s+re
1nsure appropriate disclosure in accordance with the
reporting framewor2 and fill rele#ant portion of
.inancial 8tatement isclosure Chec2list ".8C0$.
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AUDIT PROGRAM
CLIENT: ___________________________________________________
PERIOD: ___________________________________________________
SUBJECT: HEAD OFFICE AND BRANCH
Est.
Hrs
.
Phase/
Level
Procedures
!P
Re". B#
Co$$e%ts!E&'()%)t*o%
s
S+,ervisi#n- revie! an( #nl+si#n
%. *erform 8enior re#iew and super#ision.
(. -esol#e 8enior re#iew points.
). -esol#e *artner and 6anager re#iew points.
+. Conclude response to the audit ob9ecti#es.
A+(it #nl+si#n
Based on the substanti#e test procedures, 5'we performed as outlined abo#e, it is my'our opinion that the audit ob9ecti#es set forth at
the beginning of this audit program ha#e been achie#ed, except as follows:
___________________________________________________________________________________________________________
___________________________________________________________________________________________________________
___________________________________________________________________________________________________________
______________ ______________ ___________ ____________
Date.//////////// Si*nat+re J#0 Inhar*e )ana*er Partner
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