Standard Operating Procedures for conduct of audit
1. Audit Planning SOP
1. Define audit objectives and scope
2. Identify audit team and responsibilities
3. Develop audit timeline and milestones
4. Conduct risk assessment
2. Audit Fieldwork SOP
1. Gather and review relevant documents
Record of accounts must be completed till the end of every fiscal year. The audit-able record includes following:
An Administrative approval of the scheme or action plan is a detailed outline of steps to achieve a specific goal or objective.
A technical sanction of estimates also known as requisition register is a document or system used to track and manage requisitions, which are formal requests for goods or services.
This is an agreement or contract letter approved by head of school and signed by employee. It could be anyone of the Part Time School Coach or Part Time School Support Staff.
A Notice Inviting Tenders (NIT) / Quotations register is a document or system used to track and manage tender notices.
A Tender Sale Register is a document or system used to track and manage the sale of tender documents.
A Tender Opening Register is a document or system used to record and manage the opening of tender bids.
Comparative statements are documents used to compare and evaluate different options, proposals, or bids.
A Bill of Quantities (BOQ) is a document that outlines the specific materials, labor, and services required for a project, along with their corresponding quantities and specifications.
An Annual Demand of Articles document outlines the expected demand for specific articles or materials over a year, including detailed specifications.
A budget register can be used to monitor your expenditures for specific item in a specific year. Monthly expenditures of any item are added to the register for one specific year.
This register is used to keep record for salaries paid to employees.
Used to record and manage inventory of various items, such as stationery, office supplies, plants and other materials.
Utility Bills paid of school are kept in this file.
Used to record and manage financial transactions related to a specific budget or project that involve salary payments
2. Conduct interviews with stakeholders
3. Observe processes and procedures
4. Document findings and observations
3. Audit Reporting SOP
1. Summarize audit findings and recommendations
2. Prepare draft report for review
3. Finalize report and obtain approvals
4. Distribute report to stakeholders
4. Follow-up SOP
1. Track implementation of audit recommendations
2. Schedule follow-up meetings or audits
3. Document progress and update stakeholders