Audit Preparation Template

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Ensure a smooth and efficient audit preparation process with our Audit Preparation Template. This template helps Certified Public Accountants (CPAs) organize all necessary documents and tasks, ensuring nothing is overlooked. From gathering financial documents to reviewing compliance policies, each task is meticulously outlined to cover all critical aspects of audit preparation.

By following this template, CPAs can maintain meticulous organization and easily track their progress, ultimately leading to a more streamlined and successful audit process.

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Audit Preparation Template for Priority Matrix

Audit Preparation Template in Priority Matrix

Organize and track all tasks and documents needed for audit preparation with this comprehensive template.

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Proposed Tasks

Critical & Urgent

  • Task 1: Gather Financial Documents due in 1 week
    ☐ Collect all necessary financial statements ☐ Compile receipts and invoices ☐ Gather tax returns
  • Task 2: Review Internal Controls due in 2 weeks
    ☐ Check for segregation of duties ☐ Review system access controls
  • Task 9: Conduct Risk Assessment due in 9 weeks
    ☐ Identify potential risks ☐ Develop risk mitigation strategies

Critical & Not Urgent

  • Task 3: Communicate with Department Heads due in 3 weeks
    ☐ Inform about upcoming audit ☐ Request necessary reports and documents
  • Task 4: Conduct Preliminary Internal Audit due in 4 weeks
    ☐ Identify potential areas of concern ☐ Address any issues found
  • Task 5: Prepare Audit Schedule due in 5 weeks
    ☐ Coordinate with external auditors on schedule ☐ Communicate schedule to relevant departments
  • Task 10: Review Compliance Policies due in 10 weeks
    ☐ Ensure all policies are up to date ☐ Verify compliance with all regulations

Not Critical & Urgent

  • Task 6: Organize Audit Documentation due in 6 weeks
    ☐ Ensure all documents are properly filed ☐ Prepare a summary of all documents
  • Task 7: Review Previous Audit Findings due in 7 weeks
    ☐ Understand previous issues ☐ Ensure those issues have been addressed

Not Critical & Not Urgent

  • Task 8: Prepare for Post-Audit Follow Up due in 8 weeks
    ☐ Plan for addressing audit findings ☐ Prepare a timeline for implementing changes