Audit file requirements – lead schedules

Client Substantiation File.

This checklist can be used when completing your lead schedules, this will ensure that they have all been correctly completed

Information required Responsibility Completed Audit file reference
Completed a lead schedule for each balance in the financial statements with figures for:
Current year;
Last year;
$ movement, and % movement between each year
Completed sub lead schedule for each note of each balances in the financial statements or where the balance is made up of a number of GL accounts (including the applicable GL code)      
Descriptions and explanations for the movements that have been noted in the lead schedules between the current year amounts when compared to the budgeted and prior year amounts      
Evidence of the review of the lead schedule