Agree the request list early
Ask the appointed auditor for the information needed and agree the timetable. Identify one person to coordinate requests inside your business. Clarify who will prepare schedules, who will review them and who can answer questions about unusual transactions.
Reconcile the core balances
Prepare the trial balance and supporting schedules. Review bank reconciliations, customer and supplier balances, fixed assets, loans and other material accounts. Document unresolved issues openly so they can be discussed, rather than being hidden in unexplained adjustments.
Keep evidence connected to schedules
A schedule should point to the supporting documents, not simply reproduce a balance. Use a shared index for contracts, invoices, statements and approvals. Version the files consistently so the team and auditor can identify the latest information.
Track questions to completion
Maintain a request tracker with the question, owner, due date and status. When a response affects another schedule, update the connected files. A clear tracker reduces duplicated work and makes it easier to see what is still outstanding.
Understand the roles
Your business prepares its records and explanations; the independent auditor performs the audit and forms the audit opinion. Preparation and coordination support helps organise the process, but does not replace the independent audit or determine its outcome.
Put the next step into practice.
Discuss your business needs with Esteem Advisory.
Explore related support ↗