F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT

NAME OF COMPANY :BENCHMARK FINANCIAL SERVICES LTD TARGET ACTUAL

FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 START DATE: 28-Feb-11
NATURE OF ASSIGNMENT: INTERNAL AUDIT END DATE: 28-Feb-12
MAN HOURS: 2,160 1,908
Sl. AREA DETAILS Extent Target Staff's Staff's
No. of Start End No. of Total Name Initial
Check Date Date Days/mnthHours Frequency

01 CREDIT DEPT: Credit Processing and Test to see whether the process
Jan. '11Dec. '11 5 40 Monthly PRINCE ODURO PO
procedure is followed and documentation ANDREWS ANSAHAA
well processed. DANIEL OKOH DO

Loans Disbursement To verify whether amounts meant

1st Qtr4th Qtr 8/Qtr 256 Quarterly THOMAS BRAKOTAB
for disbursement has been CECIL-CLAUDE CC
properly disburseed.

Debtors Monitoring/Recovery/
To test to see where debtorsJan. '11Dec. '11 20 160 Monthly THOMAS BRAKOTAB
Reconciliation/ Classification.
are settling their accounts as ROYAL ADJEI RA
expected and expected reconci- KEN OWUSU KO
liation and classifications.

Submission of input/ Deletions

To test to see whether all bona
Jan. '11Dec. '11 5 40 Monthly THOMAS BRAKOTAB
of input at paymasters. fide debtors are submitted for EMMANUEL T ET
payments and rightful deletions
are made.

02 STORES DEPT Ordering and Receiving of

To verify that all goods ordered
Jan. '11Dec. '11 4 32 Monthly THOMAS BRAKOTAB
goods by the company are received in OSEI PUNI OP
good condition at the warehouse.

Way-billing and Returning

Toof
test to see whether all goods
Jan. '11Dec. '11 2 16 Monthly PRINCE ODURO PO
goods out of warehouse are checked DANIEL ASABEREDA
and waybilled and all returns are
checked and booked.
Record Keeping and Security
To test
at to see whether all orders,
1st Qtr4th Qtr 8/Qtr 256 Quarterly PRINCE ODURO PO
warehouse issues and returns are adequately DANIEL ASABEREDA
recorded. That no unauthorized OSEI PUNI OP
entry are made by unauthorized
persons at restricted area.

Stock taking, Reconciliation

To test the accuracy of stockJan.
items
'11Dec. '11 1 4 Monthly PRINCE ODURO PO
and Valuation. in the warehouse and the value. THOMAS BRAKOTAB

03 ACCOUNTS DEPT: Payroll To test payroll and all vouchers

Jan.for
'11Dec. '11 1 2 Monthly PRINCE ODURO OP
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
the payment of staff and checking CECIL-CLAUDE CC
tax, SSNIT, & Other statutory ded.
to authorized staff.
Payments(Creditors, Other
To Exp.)
test for true creditors of the
1st Qtr4th Qtr 5/Qtr 160 Quarterly PRINCE ODURO OP
company, payment to them in DANIEL OKOH DO
respect of goods supplied, and CECIL-CLAUDE CC
basis for pmt of other exp and
authority for such payments and
their recordings.
Receipts(investment incomes)
To verify whether investmenthalf yr 2nd half yr 2 18 Bi-annually PRINCE ODURO OP
incomes are received as agreed DANIEL ASABEREDA
and recorded accordingly.

Management Accounts To test the accuracy and theJan. '11Dec. '11 2 16 Monthly PRINCE ODURO OP
authenticity of figures contained in KEN OWUSU KO
the financial statement meant for ROYAL ADJEI RA
decision making.

Bank Reconciliation Statement

To verify to see whether recon-
1st Qtr4th Qtr 5/Qtr 160 Quarterly PRINCE ODURO OP
ciliation statements are prepared EMMANUEL T ET
monthly and are reviewed.
Prudential Reports and Other
To Verify whether all mandatory
Jan. '11Dec. '11 2 16 Monthly PRINCE ODURO OP
Statutory preparation & preparations are made and sub- OSEI PUNI OP
Submission mitted on timely basis.

Fixed Assets To test their existence, recording,

1st Qtr4th Qtr 3/Qtr 24 Quarterly PRINCE ODURO OP
maintenance and depreciation. DANIEL OKOH DO

04 Filing of: all staff details To

OPERATIONS DEP'T andverify whether all staff and
half yr 2nd half yr 2 18 Bi-annually PRINCE ODURO OP
customers details. customers details are appropriately EMMANUEL T ET
filed under security.

Staff Appraisal To Check to see whether Staff

half
areyr 2nd half yr 2 18 Bi-annually PRINCE ODURO OP
adequately appraised. OSEI PUNI OP

Office Security and Corporate

To test to see Office working half
envi-yr 2nd half yr 2 18 Bi-annually PRINCE ODURO OP
image management ronment security and corporate ROYAL ADJEI RA
image issues are managed.
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
05 Software Security
INFORMATIONAL TECH. To test whether the various security
Jan. '11Dec. '11 4 32 Monthly PRINCE ODURO OP
in the compamy's software are KEN OWUSU KO
adequate & are working properly.

Data Security To Verify whether the company's

Jan. '11Dec. '11 4 32 Monthly PRINCE ODURO OP
data is adequately protected & CECIL-CLAUDE CC
backed-up consistenly.

Data Entry and Varification

To Test to see whether approp- Jan. '11Dec. '11 4 32 Monthly THOMAS BRAKOTAB
riate data is entered into the ANDREWS ANSAH
AA
company's software and that they
are adequate and correctly entered.

06 RISK ASSESSMENTOperational,
& Financial and
To assess the level of risks associa-
1st Qtr4th Qtr 5/Qtr 160 Quarterly PRINCE ODURO OP
CONTROL Credit Risks ted with the above areas and make ANDREWS ANSAHAA
appropriate recommendations.

NOTE: REPORTING OF FINDINGS AND RECOMMENDATIONS WILL BE DONE ON QUARTERLY BASES.

……………………………………… ……………………………………..
PREPARED BY: APPROVED BY:
HEAD, INTERNAL AUDIT BOARD AUDIT SUB-COMMITTEE
 F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
CTUAL

Remarks
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
NAME OF COMPANY :F & D FINANCE AND LEASING LTD TARGET ACTUAL
FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 START DATE: 28-Feb-11
NATURE OF ASSIGNMENT: INTERNAL AUDIT END DATE: 28-Feb-12
MAN HOURS: 2,160 1,908
Sl. AREA DETAILS Extent Target Actual / PRIORITZED Staff's Staff's
No. of Start End Total Start End Total Name Initial
Check Date Date Hours Date Date Hours

01 CREDIT DEPT: Credit Processing and procedure

Test to see whether the process
is followed and documentation
well processed.

Loans Disbursement To verify whether amounts meant

for disbursement has been
properly disburseed.

Debtors Monitoring/Recovery/To test to see where debtors

Reconciliation/ Classification. are settling their accounts as
expected and expected reconci-
liation and classifications.

Submission of input/ DeletionsTooftest to see whether all bona

input at paymasters. fide debtors are submitted for
payments and rightful deletions
are made.

STORES DEPT Ordering and Receiving of goods

To ensure that all goods ordered
by the company are received in
good condition at the warehouse.

Way-billing and Returning of goods

To test to see whether all goods
out of warehouse are checked
and waybilled and all returns are
checked and booked.

Record Keeping and Security at

To test to see whether all orders,
warehouse issues and returns are adequately
recorded. That no unauthorized
entry are made by unauthorized
persons at restricted area.

Stock taking, Reconciliation and

To test the accuracy of stock items
Valuation. in the warehouse and the value.

ACCOUNTS DEPT: Payroll To Vet payroll and all vouchers for

the payment of staff by checking
tax, SSNIT, & Other statutory ded.
to authorized staff.

Payments(Creditors, Other Exp.)

To test for true creditors of the
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
company, payment to them in
respect of goods supplied, and
basis for pmt of other exp and
authority for such payments and
their recordings.

Receipts(investment incomes)To verify whether investment

incomes are received as agreed
and recorded accordingly.

Management Accounts To test the accuracy and the

authenticity of figures contained in
the financial statement meant for
decision making.

Bank Reconciliation Statement

To verify to see whether recon-
ciliation statements are prepared
monthly and to review them.

Prudential Reports and Other To Verify whether all mandatory

Statutory preparation & Submission
preparations are made and sub-
mitted on timely basis.

Fixed Assets To test their existence, recording,

maintenance and depreciation.

OPERATIOND DEP'TFiling of: all staff details and custo-

To verify whether all staff and
mers details. customers details are appropriately
filed under security.

Staff Appraisal To Check to see whether Staff are

adequately appraise.

Office Security and Corporate To

image
test to see Office working envi-
management ronment security and corporate
image issues are managed.

INFORMATIONAL TECH.
Software Security To test whether the various security
in the compamy's software are
adequate & are working properly.

Data Sesurity To Verify whether the company's

data is adequately protected &
backed-up consistenly.

Data Entry and Varification To Check to see whether approp-

riate data is entered into the
company's software and that they
adequate and correctly entered.
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
RISK ASSESSMENT &
Operational, Financial and Credit
To assess the level of risks associa-
CONTROL Risks ted with the above areas and make
appropriate recommendations.
 F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
CTUAL

Remarks
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
NAME OF COMPANY :F & D FINANCE AND LEASING LTD TARGET ACTUAL
FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 START DATE: 28-Feb-11
NATURE OF ASSIGNMENT: INTERNAL AUDIT END DATE: 28-Feb-12
MAN HOURS: 2,160 1,908
Sl. AREA DETAILS Extent Target Actual / PRIORITZED Staff's Staff's
No. of Start End Total Start End Total Name Initial
Check Date Date Hours Date Date Hours

01 CREDIT DEPT: Credit Processing and procedure

Test to see whether the process
is followed and documentation
well processed.

Loans Disbursement To verify whether amounts meant

for disbursement has been
properly disburseed.

Debtors Monitoring/Recovery/To test to see where debtors

Reconciliation/ Classification. are settling their accounts as
expected and expected reconci-
liation and classifications.

Submission of input/ DeletionsTooftest to see whether all bona

input at paymasters. fide debtors are submitted for
payments and rightful deletions
are made.

STORES DEPT Ordering and Receiving of goods

To ensure that all goods ordered
by the company are received in
good condition at the warehouse.

Way-billing and Returning of goods

To test to see whether all goods
out of warehouse are checked
and waybilled and all returns are
checked and booked.

Record Keeping and Security at

To test to see whether all orders,
warehouse issues and returns are adequately
recorded. That no unauthorized
entry are made by unauthorized
persons at restricted area.

Stock taking, Reconciliation and

To test the accuracy of stock items
Valuation. in the warehouse and the value.

ACCOUNTS DEPT: Payroll To Vet payroll and all vouchers for

the payment of staff by checking
tax, SSNIT, & Other statutory ded.
to authorized staff.

Payments(Creditors, Other Exp.)

To test for true creditors of the
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
company, payment to them in
respect of goods supplied, and
basis for pmt of other exp and
authority for such payments and
their recordings.

Receipts(investment incomes)To verify whether investment

incomes are received as agreed
and recorded accordingly.

Management Accounts To test the accuracy and the

authenticity of figures contained in
the financial statement meant for
decision making.

Bank Reconciliation Statement

To verify to see whether recon-
ciliation statements are prepared
monthly and to review them.

Prudential Reports and Other To Verify whether all mandatory

Statutory preparation & Submission
preparations are made and sub-
mitted on timely basis.

Fixed Assets To test their existence, recording,

maintenance and depreciation.

OPERATIOND DEP'TFiling of: all staff details and custo-

To verify whether all staff and
mers details. customers details are appropriately
filed under security.

Staff Appraisal To Check to see whether Staff are

adequately appraise.

Office Security and Corporate To

image
test to see Office working envi-
management ronment security and corporate
image issues are managed.

INFORMATIONAL TECH.
Software Security To test whether the various security
in the compamy's software are
adequate & are working properly.

Data Sesurity To Verify whether the company's

data is adequately protected &
backed-up consistenly.

Data Entry and Varification To Check to see whether approp-

riate data is entered into the
company's software and that they
adequate and correctly entered.
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
RISK ASSESSMENT &
Operational, Financial and Credit
To assess the level of risks associa-
CONTROL Risks ted with the above areas and make
appropriate recommendations.
 F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
CTUAL

Remarks
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
NAME OF COMPANY :F & D FINANCE AND LEASING LTD TARGET ACTUAL
FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 START DATE: 28-Feb-11
NATURE OF ASSIGNMENT: INTERNAL AUDIT END DATE: 28-Feb-12
MAN HOURS: 2,160 1,908
Sl. AREA DETAILS Extent Target Actual / PRIORITZED Staff's Staff's
No. of Start End Total Start End Total Name Initial
Check Date Date Hours Date Date Hours

01 CREDIT DEPT: Credit Processing and procedure

Test to see whether the process
is followed and documentation
well processed.

Loans Disbursement To verify whether amounts meant

for disbursement has been
properly disburseed.

Debtors Monitoring/Recovery/To test to see where debtors

Reconciliation/ Classification. are settling their accounts as
expected and expected reconci-
liation and classifications.

Submission of input/ DeletionsTooftest to see whether all bona

input at paymasters. fide debtors are submitted for
payments and rightful deletions
are made.

STORES DEPT Ordering and Receiving of goods

To ensure that all goods ordered
by the company are received in
good condition at the warehouse.

Way-billing and Returning of goods

To test to see whether all goods
out of warehouse are checked
and waybilled and all returns are
checked and booked.

Record Keeping and Security at

To test to see whether all orders,
warehouse issues and returns are adequately
recorded. That no unauthorized
entry are made by unauthorized
persons at restricted area.

Stock taking, Reconciliation and

To test the accuracy of stock items
Valuation. in the warehouse and the value.

ACCOUNTS DEPT: Payroll To Vet payroll and all vouchers for

the payment of staff by checking
tax, SSNIT, & Other statutory ded.
to authorized staff.

Payments(Creditors, Other Exp.)

To test for true creditors of the
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
company, payment to them in
respect of goods supplied, and
basis for pmt of other exp and
authority for such payments and
their recordings.

Receipts(investment incomes)To verify whether investment

incomes are received as agreed
and recorded accordingly.

Management Accounts To test the accuracy and the

authenticity of figures contained in
the financial statement meant for
decision making.

Bank Reconciliation Statement

To verify to see whether recon-
ciliation statements are prepared
monthly and to review them.

Prudential Reports and Other To Verify whether all mandatory

Statutory preparation & Submission
preparations are made and sub-
mitted on timely basis.

Fixed Assets To test their existence, recording,

maintenance and depreciation.

OPERATIOND DEP'TFiling of: all staff details and custo-

To verify whether all staff and
mers details. customers details are appropriately
filed under security.

Staff Appraisal To Check to see whether Staff are

adequately appraise.

Office Security and Corporate To

image
test to see Office working envi-
management ronment security and corporate
image issues are managed.

INFORMATIONAL TECH.
Software Security To test whether the various security
in the compamy's software are
adequate & are working properly.

Data Sesurity To Verify whether the company's

data is adequately protected &
backed-up consistenly.

Data Entry and Varification To Check to see whether approp-

riate data is entered into the
company's software and that they
adequate and correctly entered.
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
RISK ASSESSMENT &
Operational, Financial and Credit
To assess the level of risks associa-
CONTROL Risks ted with the above areas and make
appropriate recommendations.
 F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
CTUAL

Remarks
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT
F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT