AUDIT PROGRAM

CLIENT:
PERIOD:
SUBJECT: ACCRUALS
Est.
Hrs
.
Phase/
Level
Procedures
W/P
Re. B!
Co""e#ts/E$%&'#'t(o#
s
AUDIT OBJECTIVES
To determine whether:
B. Accrued liabilities represent all obligations for
resources and services acquired through the balance
sheet date and have been properly recorded. BAS NOT!
". All liabilities are properly described and classified and
adequate disclosures with respect to these amounts
and disclosures related to off#balance sheet financing
have been made.
SUBSTANTIVE PROCEDURES
1. Accruals
$.$ %or each material accrued liability& obtain a summary
analysis for the period and a copy of the client's
calculation of the required balance as of the balance
sheet date. (erify the clerical accuracy of each
analysis.
N$#)$
N$#*)
BAS Summary obtained and
calculation chec+ed for the year
end balance.
$., !etermine whether the ending accrual balances agree
in total to the general ledger control accounts for such
accrued liabilities. -nvestigate significant or unusual
reconciling items.
N$#.S BAS !etermined and no such
difference found.
$.* /amine critical forms and documents to support the
bases used to calculate the accruals.
BAS -nterest re#calculated and found
satisfactory basis.
$.0 1ave the client reconcile the charges or credits shown
in each analysis with the applicable income statement
accounts. "ross#reference to the appropriate lead
schedules. /amine supporting documentation for
significant reconciling items.
BAS -nterest charges cross#referred
with income statements.
$.2 "ross#referred accrued balances confirmed by ban+s. N$#*) BAS "ross#referencing done with
ban+ confirmations.
Other tests as deeed !ecessar"
NON
#a!a$ee!t Letter
AUDIT PROGRAM
CLIENT:
PERIOD:
SUBJECT: ACCRUALS
Est.
Hrs
.
Phase/
Level
Procedures
W/P
Re. B!
Co""e#ts/E$%&'#'t(o#
s
3repare management letter points including:
-nternal control wea+nesses4
Business improvement opportunities4
.egal non#compliance4
Accounting system deficiencies4 and
rrors and irregularities not material at the
financial statements level.
D%scl&sure
nsure appropriate disclosure have been made in
accordance with the reporting framewor+ and fill
relevant portion of %inancial Statement !isclosure
"hec+list 5%S!".6.
Su'erv%s%&!( rev%e) a!d c&!clus%&!
$. 3erform Senior review and supervision.
,. 7esolve Senior review points.
*. 7esolve 3artner and 8anager review points.
0. "onclude response to the audit ob9ectives.
Aud%t c&!clus%&!
Based on the substantive test procedures& -:we performed as outlined above& it is my:our opinion that the audit ob9ectives set forth at
the beginning of this audit program have been achieved.
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Date*++++++++++++ S%$!ature J&, I!char$e #a!a$er Part!er