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Project Audit Readiness Checklist
Work through the records an external auditor typically asks for when auditing a World Bank, AfDB, ADB, EU or UN-funded project. Mark each item as Ready, Partly, Missing or N/A to see where the gaps are. You get a document pack: a prioritised gap list, a request memo for your team and a draft management response.
- Checklist
- 15 min
- Free
- Saved in your browser
Who it is for
- Project implementation unit (PIU) finance managers
- Project accountants and FM specialists
- Project coordinators preparing for audit fieldwork
- Ministry or agency finance teams overseeing donor projects
- Internal auditors supporting project audits
What you get
- A readiness score across the main audit areas
- A prioritised list of missing or incomplete records
- A document request memo to send to colleagues
- A short management response draft for likely findings
- Links to official financial management guidance
Questions
Who should use this audit readiness checklist?
It is designed for project implementation units, finance managers and project accountants preparing for the annual external audit of a donor-financed project, as well as agency staff who oversee those projects.
Does it replace the audit terms of reference?
No. The audit TOR and your financing agreement set the actual scope and deadlines. Use this checklist to organise records and spot gaps before the auditors arrive.
When should we start preparing for the audit?
Ideally two to three months before the year-end close, so reconciliations, asset verification and follow-up of previous recommendations are complete before fieldwork begins.
What is in the document pack?
You get a prioritised list of missing items, a document request memo you can send to colleagues and a short management response template for likely findings.
Based on
- World Bank financial management for projects Check the latest guidance and audit requirements
- IPSAS, including the cash basis IPSAS International Public Sector Accounting Standards Board; check the current edition
- Your project's financing agreement, disbursement letter and audit terms of reference The binding source for what the auditor will check
This is a guidance tool, not an official audit form; always follow your audit terms of reference and the current version of your financing agreement.