A Sample Audit Report is an analysis of a small or medium business’s financial records, generally the accounts payable and accounts receivable. It is usually prepared for auditing purposes by a Certified Public Accountant (CPA), who can assist you in determining whether your company is in need of an audit. If an auditor finds material issues with your financial records, he/she will write a report that will be provided to the company’s CPA, who will then prepare and submit it to the U.S. Securities Exchange Commission for public release. The purpose of this report is for shareholders and other interested parties to understand the assets and liabilities of the company.
For you to create a sample audit, you only need to download and open a template from the internet. You have to enter some information about your business and the type of audit that you want to perform. Once the report has been saved on your computer, you can easily print it out for you to review it at any time. You can then review the report and make any corrections if you find anything that needs to be changed. It is very convenient for you as a business owner because you do not have to spend time in searching for accounting reports or making hard copies of the financial records. However, if you choose to use the services of a professional accountant, he/she will provide more assistance in creating the report for you.
A template used for an audit is ideal because it contains general information, which can be verified and compared with financial records in order to identify any discrepancies between the two sets of data. This is essential in ensuring that your company follows Generally Accepted Accounting Principles, or GAAP. When you prepare an audit template, you can be sure that it contains only those items that are necessary for the audit, and nothing more. If there are items that you think should be included but are not included in the sample audit template, you can check with a certified public accountant for assistance in preparing the required reports.