Private and confidential
Client: (Pty) Ltd
Client Assistance
Schedule
For the year / period ended:
INTRODUCTION
The following information is provided as a guide to be used in preparing for the audit for (Pty) Ltd for
the period ended . The company’s staff should prepare all the items requested below which will help
facilitate the completion of the audit as quickly and as efficiently as possible.
WORKPAPER SCHEDULES
The schedules outlined within this package should be carefully and accurately prepared in accordance
with these instructions. Management should review all working papers prior to providing them to MWR
& Associates. The documents will serve as working papers for the auditors and will be used by us in the
audit of the company's annual financial statements / other audits requested by clients. Please keep copies
of the schedules for your own records. Where possible, please provide documents in softcopy format (in
excel format so we can filter the document) on a CD or e-mail them to one of the contacts listed below.
SCHEDULES MUST AGREE WITH FINAL BOOK AMOUNTS
Any schedule which is not in agreement with final book balances will cause delays. Once we have been
given a trial balance, any further adjustments to those balances should be given to the auditors as soon as
known.
SCHEDULES SHOULD SHOW COMPARATIVES
Schedules detailing the analysis of account balances should be prepared with prior year comparatives
wherever applicable. All prior year balances should include prior year audit adjustments.
TIMING
All information herein is required in order to complete the audit in a timely manner and within the
budgeted amount of time. Please make all items requested available to M W Reynolds & Associates as
soon as possible:
We would like to thank you in advance for your cooperation and should any questions arise regarding the
information included herein, please do not hesitate to contact:
Simone Gorven (011 421 8944) or simone@mwreynolds.co.za , or the relevant senior who has made
contact with you regarding the conduct of your audit.
MWR CLIENT ASSISTANCE SCHEDULE
Records that should be completed and made
available by the client for our inspection
The general ledger for the financial year or period
being audited (the full ledger)
The trial balance for the financial year or period
being audited
Documentation for all non-standard journals. Provide
a listing of all non-standard journal entries for the
whole year in excel (supporting documentation will be
requested for specific entries)
Budgets if prepared
Management accounts for the period
Copies of minutes of meetings for the financial year /
period being audited and from the period end to the
date of the audit.
Lead schedules that agree to the trial balance and that
provide analysis of the composition of the figures in
the trial balance including an analysis of accruals
Full details of any transactions with;
i)
directors;
ii)
other related parties.
Contact details for all attorneys
Provide support for dividends declared/paid
Listing of all dividends received during the year and
the relevant support
Support for all trade receivables trade payables,
accruals and provisions including age analyses for the
trade receivables and payables
Cash book for the entire year
A bank reconciliation at year/period end – attached
copy of ledger + cashbook (last page, copy of bank
statement (last page), reconciling items.
Access to bank statements for the entire year / period
A copy of your company’s insurance policies
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MWR CLIENT ASSISTANCE SCHEDULE
A summary of guarantees stating on whose behalf
they are given, their nature and the amounts involved
A schedule of charges and liens over the company’s
assets
Proof of any deposits paid or received
A costed inventory count sheet at year end
Detailed Work In Progress schedule showing the job,
percentage completion at year end and value of the
invoice to be issued once job is completed.
Copies of the bank statements for the first two months
after year / period-end;
Copies of all credit card statements for the year/period
Copies of all the VAT returns for the year/period
Copies of all the PAYE returns for the year/period
Copies of all WCA and UIF UI19 returns for the
year/period
A list of all employees at year-end and those employed
and terminated during the year together with their
salary per their employment contract alongside their
name
A list of leave due to each employee
The general manager or managing directors should
furnish us with a list of business pressures (amongst
others: financial, competitive etc) currently applicable
A copy of all operating leases including your
landlord’s lease
A copy of all instalment sale and financial leases
which are still being paid off by the company
Provide details of all overdraft facilities held. This will
be required for the financial statement disclosure
A summary of any litigation in progress
General notes
a)
All schedules should be updated for late adjustments.
b)
Related parties include:
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MWR CLIENT ASSISTANCE SCHEDULE
(i)
affiliates (holding companies, subsidiary and associated undertakings, fellow subsidiary undertakings
etc.);
(ii)
companies under common control of the same third party;
(iii)
shareholders and their immediate families;
(iv)
directors (and their immediate families) and senior management; and
(v)
other entities with which the reporting entity may deal, where one party has the ability to exert such
influence over the management or operating policies of the other that one of the transacting parties
might be prevented from fully pursuing its own separate interests.
c)
We request all directors to sign an annual certificate confirming their emoluments, interests in shares etc.,
interests in material contracts and their indebtedness to the company.
d)
We request management as well as directors to sign the management representation letter.
e)
We request two directors to sign the annual financial statements where there is more than one director.
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