An internal audit checklist is the specific instructions or guidelines 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.

What is an internal checklist?

What is an Internal Control Checklist? An internal control checklist is intended to give an organization a tool for evaluating the state of its system of internal controls. By periodically comparing the checklist to actual systems, one can spot control breakdowns that should be remedied.

How do you prepare an internal audit checklist?

1. Initial Audit Planning.
2. Risk and Process Subject Matter Expertise.
3. Initial Document Request List.
4. Preparing for a Planning Meeting with Business Stakeholders.
5. Preparing the Audit Program.
6. Audit Program and Planning Review.