Not-for-Profit Audit Client To-Do List

Please email the following reports to me prior to my beginning the fieldwork. All of the reports should be final and after all year-end entries have been made:

  1. Balance sheet as of year end.
  2. Revenues with budgeted information, if your internal statements are set up that way.  
  3. Expenses with budgeted information, if your internal statements are set up that way.  

If there are any supplemental budgets adopted, be sure and let me know if the reports have been updated for the supplemental budget amounts.

In addition, the above reports will need to be emailed in an Excel format to me at rfarmer@farmercpas.com. The format should be four columns with the first column being the account number, the second being the account name, third being the account balance as of year-end, and the fourth, if applicable, being the budgeted revenues and expenses.

Please have the following items ready when I arrive:

  1. Minutes and Resolutions for the year, including minutes to the date of the field work. You can download this information on a CD or email me the minutes.
  2. Insurance policies, grants or any other new agreements (such as leases) and contracts entered into during the year. Do not make copies, as I will make copies of what I need.
  3. The W-3 and 941's for all quarters of the year being audited. Do not make copies, as I will make copies of what I need. 
  4. All bank reconciliations with bank statements for the year being audited for all of the various accounts opened during the year or open as of year-end. Include the bank statements and bank reconciliations for the year being audited and the two months following the year-end. Do not make copies, as I will make copies of what I need.
  5. General liability loss notices, if any, from the insurance company.
  6. List of assets purchased during the year including the original invoice for all assets purchased during the year and any lease-purchase agreements. In addition, include a listing of any assets disposed of during the year. .
  7. List of any lawsuits, if any, outstanding as of year-end. .
  8. List of accounts payable as of year-end.  The list of accounts payables need to indicate date paid, vendor, amount paid and account charged.
  9. Detail of accrued payroll or other accrued expenses, if any, including documentation of what each employee was being paid as of year-end.
  10. Listing of all accounts receivable as of year-end.   The list needs to include the date received, payer and account charged.
  11. There will be addition information I need, but this list will give you a start on getting information together. In addition, if there is any additional information that you think is pertinent to the audit, please have it available.

I am trying to reduce the amount of paper I accumulate for the audit so I will ask that you scan and email to me what I need for my workpapers. I will do this as the audit progresses so please have original documents available, not copies.

If you have any questions, please let me know.