Audit Task Prioritizing System Template

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Enhance your auditing efficiency with the Audit Task Prioritizing System. This template utilizes the Quadrants method to help you identify and focus on audit tasks that are both urgent and important, ensuring that critical tasks are addressed promptly.

By implementing this system, you can streamline your auditing process, improve task management, and achieve better overall results in your auditing projects.

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Audit Task Prioritizing System for Priority Matrix

Audit Task Prioritizing System in Priority Matrix

Prioritize your audit tasks effectively using the Quadrants method to focus on urgent and important tasks first.

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Proposed Tasks

Important and Urgent

  • Audit task 1 due in 1 day
    ☐ Review financial statements ☐ Identify risk areas ☐ Test internal controls
  • Client meeting due in 1 day
    ☐ Prepare for meeting ☐ Discuss audit findings
  • Audit task 2 due in 3 days
    ☐ Assess tax compliance ☐ Prepare audit report
  • Audit task 12 due in 2 months
    ☐ Prepare final audit report ☐ Present report to client
  • Audit task 17 due in 11 weeks
    ☐ Conduct final client meeting ☐ Discuss audit conclusion

Important and Not Urgent

  • Audit task 3 due in 1 week
    ☐ Conduct financial analysis ☐ Review and verify invoices
  • Audit task 9 due in 7 days
    ☐ Verify liabilities and provisions ☐ Check legal compliance
  • Audit task 4 due in 2 weeks
    ☐ Check bank reconciliations ☐ Verify cash and bank balances
  • Audit task 10 due in 4 weeks
    ☐ Check revenue recognition ☐ Verify revenue accuracy
  • Audit task 13 due in 7 weeks
    ☐ Perform post-audit review ☐ Discuss findings with team
  • Audit task 18 due in 3 months
    ☐ Prepare for next audit cycle ☐ Update audit plan

Not Important but Urgent

  • Audit task 5 due in 3 weeks
    ☐ Perform inventory count ☐ Verify inventory valuation
  • Audit task 6 due in 1 month
    ☐ Check fixed assets and depreciation ☐ Verify asset existence and valuation
  • Professional development course due in 1 month
    ☐ Enroll in course ☐ Complete course
  • Audit task 11 due in 5 weeks
    ☐ Review previous audit report ☐ Identify areas for improvement
  • Audit task 14 due in 8 weeks
    ☐ Update audit procedures ☐ Implement changes in audit process

Not Important and Not Urgent

  • Audit task 7 due in 6 weeks
    ☐ Review payroll and personnel records ☐ Verify payroll expenses
  • Audit task 8 due in 2 months
    ☐ Check purchase and sales ledger ☐ Verify ledger accuracy
  • Audit task 15 due in 9 weeks
    ☐ Conduct peer review ☐ Receive feedback
  • Audit task 16 due in 10 weeks
    ☐ Review client feedback ☐ Make necessary adjustments