What Is an Internal Audit Checklist?
An internal audit checklist is the specific instruction or guideline used by auditors to test a company’s financial or operational information. Internal audits are usually conducted by company employees and review the financial accounting process or internal controls of a company. Company managers use internal audits as an informal review process to ensure no material weaknesses exist in their financial accounting processes, internal controls or other business operations. While specific internal audit checklist guidelines may vary depending on the company’s operations, a few basic guidelines for the internal audit function may include such areas as planning, gathering information, governmental regulation compliance testing and production measurement testing.
