Audit Checklist Sample
Audits reveal operational truth – make sure you’re ready for scrutiny. This Audit Checklist Sample turns compliance anxiety into systematic confidence. Whether internal or external, scheduled or surprise, this AI-powered tool creates audit-specific preparation that actually works. Stop dreading audits and start using them as improvement catalysts.
Audit Header
- Organization: ABC Corporation
- Process: Procurement & Purchasing
- Audit Date: March 15-19, 2024
- Lead Auditor: John Smith, CIA
- Audit Team: Jane Doe, Mary Johnson
1. Procurement Planning
Requirements Definition
☑ Purchase requisitions documented properly (98% compliance)
☑ Specifications clearly defined (95% compliance)
☐ Cost-benefit analysis performed (65% – needs improvement)
☑ Budget availability confirmed (100% compliance)
☑ Approval hierarchy followed (97% compliance)
Sample Results: 50 requisitions reviewed
- Fully compliant: 45
- Minor issues: 3
- Major issues: 2
2. Vendor Selection
Vendor Management
☑ Approved vendor list maintained (Yes – current as of 03/01/24)
☑ Vendor evaluation criteria documented (Yes – Policy P-204)
☐ Competitive bidding for >$10k (87% – 2 exceptions noted)
☑ Conflict of interest declarations (100% on file)
☑ Due diligence performed (95% documented)
Testing Note: 3 sole-source justifications lacked proper approval
3. Purchase Order Process
PO Creation & Approval
☑ PO numbering sequential (Yes – no gaps found)
☑ Terms and conditions included (100%)
☑ Delivery dates specified (98%)
☐ Quality requirements stated (78% – improvement needed)
☑ Appropriate approvals obtained (96%)
System Check: SAP workflow functioning correctly
4. Receipt & Inspection
Goods Receipt
☑ Three-way match performed (94% accuracy)
☑ Receiving reports completed (100%)
☐ Quality inspections documented (82% – gaps in documentation)
☑ Discrepancies reported timely (Yes – within 24 hours)
☑ Returns processed properly (100% of 8 returns)
Finding: Receiving dock procedures need updating
5. Invoice Processing
Payment Controls
☑ Invoice approval appropriate (99%)
☑ Duplicate payment controls (System controls effective)
☑ Payment terms optimal (92% taking discounts)
☑ Tax compliance verified (100%)
☐ Expense allocation accurate (88% – training needed)
Metric: Average processing time: 4.2 days (Target: 5 days) ✓
6. Contract Management
Contract Administration
☑ Contracts properly executed (100% of 25 reviewed)
☑ Contract repository maintained (Yes – SharePoint)
☐ Renewal alerts functioning (60% – system issues)
☑ Performance monitoring active (90%)
☑ Amendments documented (100%)
Risk Identified: 5 contracts expiring without renewal plans
7. Compliance Areas
Regulatory Compliance
☑ FAR compliance (where applicable) – Compliant
☑ State procurement laws – Compliant
☑ Company policies – 94% compliant
☑ Ethics guidelines – No violations found
☑ Sustainability requirements – 89% compliant
Documentation: All certifications current
8. Performance Metrics
KPI Review (Q1 2024)
- Cost savings achieved: $2.3M (Target: $2M) ✓
- On-time delivery: 91% (Target: 95%) ✗
- Vendor satisfaction: 4.2/5 (Target: 4.0) ✓
- Process cycle time: 8.5 days (Target: 10 days) ✓
- Error rate: 2.1% (Target: <3%) ✓
9. Findings Summary
High Priority
- Finding: Sole-source purchases lacking justification
- Risk: Potential overpayment, lack of competition
- Recommendation: Enforce policy requiring written justification
- Management Response: Will implement additional controls by 4/30/24
Medium Priority
Finding: Quality requirements not consistently documented
- Risk: Receipt of non-conforming goods
- Recommendation: Update PO template to include quality specs
- Management Response: Template update in progress
Finding: Contract renewal tracking inadequate
- Risk: Service interruption, unfavorable auto-renewals
- Recommendation: Implement automated alerting system
- Management Response: IT project approved for Q2
Low Priority
- Finding: Expense allocation errors
- Risk: Incorrect departmental charges
- Recommendation: Provide refresher training
- Management Response: Training scheduled for April
10. Conclusion
Overall Assessment: SATISFACTORY
- Strengths: Strong payment controls, good vendor management
- Improvements Needed: Documentation, system enhancements
- Follow-up Required: 60-day review of high-priority items
Recommendations Accepted: 4 of 4
Estimated Implementation: 90 days
Certification
We certify that this audit was conducted in accordance with professional standards.
Lead Auditor: John Smith _____________ Date: 03/19/24
Audit Manager: Susan Wilson _____________ Date: 03/20/24
Process Owner: Robert Brown _____________ Date: 03/20/24
How the Audit Checklist Sample works
Describe your audit type, scope, and timeline. Input your industry and applicable standards. The AI builds a customized audit checklist sample with preparation phases, documentation requirements, and common findings prevention. Track progress, assign responsibilities, and generate audit packages. Export reports that demonstrate due diligence.
Audit failures aren’t just embarrassing – they’re expensive. Fines, remediation, and reputation damage multiply costs. This checklist prevents the preventable, turning audit preparation from last-minute panic into systematic excellence. It’s how professionals maintain continuous compliance instead of periodic scrambles.
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