NAME:

COOPERATIVE NAME:

MODULE 6: Developing Audit Objectives and Procedures

SAMPLE AUDIT PROGRAM

Account Balance Audit Program

Account:
Audit Objectives

Valuation & Allocation

Completeness

Classification
Detail tie-in
Sample Items to

Accuracy
Existence
Timing Audit Procedures

Cut-off

Rights
Size select

Prepared by:

Audit Committee Member Signature Date Signed 

Audit Committee Member Signature Date Signed 

Audit Committee Member Signature Date Signed 

 Sample: Account Balance Audit Program

Account: Loans Receivable

Audit Objectives

AllocationValuation &
Completeness

Classification
Detail tie-in
Sample Items to

Accuracy
Existence
Timing Audit Procedures

Cut-off

Rights
Size select

Foot Random Interim Obtain the loan schedule, trace accounts to the master file, X
foot schedule and trace the total to the General Ledger to
ensure agreement of the GL with the SL.
All All Year end Obtain analysis of the allowance for doubtful loans, test X X x X
accuracy, examine authorization for charge-off and trace to
General Ledger to ensure that loans are presented at Net
Realizable value.
100 30 largest & Interim Obtain direct confirmation of loans and perform alternative X x X X X
70 random procedures for non-responses to ensure that loans to
members actually exist.
NA NA Year end Review loans control account for the period. Investigate X X X X X
unusual accounts like negative balances.
NA NA Year end Check the loan delinquent accounts and the collection X
procedures implemented. Study the responses to the
collection letters sent to assess the collectability of account
balances.
All All Year end Review lists of balance for amounts due from related parties X X
and employees to assess the probability risks that may occur
on governance.

Prepared by:

Audit Committee Member Signature Date Signed 

Audit Committee Member Signature Date Signed 

Audit Committee Member Signature Date Signed