Having organized and complete records ready before the auditor begins work reduces audit time, minimizes open items, and helps ensure the engagement moves smoothly toward a final audit report. The checklist below covers the major categories of documents and records that external auditors typically request.
Accounting Records
- ✓Complete general ledger for all accounts through December 31
- ✓Final trial balance reconciled to general ledger
- ✓All journal entries posted, including year-end adjustments
- ✓Chart of accounts reviewed and accounts properly classified
Bank and Cash
- ✓Bank reconciliations for all bank accounts as of December 31
- ✓December bank statements obtained from all banks
- ✓Unreconciled items investigated and resolved
- ✓Petty cash count documentation if applicable
Receivables and Payables
- ✓Accounts receivable aging schedule as of December 31
- ✓Confirmation of significant receivable balances (if required)
- ✓Accounts payable listing reconciled to vendor statements
- ✓Accrued liabilities recorded and documented
- ✓Related-party transactions and balances identified and disclosed
Inventory (if applicable)
- ✓Physical inventory count conducted as of or near year-end
- ✓Inventory count sheets signed by responsible personnel
- ✓Inventory valuation method documented and consistently applied
- ✓Obsolete or slow-moving inventory identified
Fixed Assets
- ✓Fixed asset register updated with additions and disposals
- ✓Depreciation schedules reconciled to general ledger
- ✓Asset disposals properly recorded and documented
- ✓Lapsing schedules (accumulated depreciation) up to date
Tax Compliance Documentation
- ✓BIR tax returns filed for the year: VAT (2550M/2550Q), withholding (1601-E/1601-F), income tax (1702Q), and others
- ✓Withholding tax certificates (BIR Form 2307) received from customers/clients
- ✓BIR Form 2306 and 2307 summarized for reconciliation to tax returns
- ✓Real property tax receipts if applicable
- ✓BOC import documents if applicable
Corporate Documentation
- ✓Articles of Incorporation and By-laws
- ✓SEC Certificate of Registration and General Information Sheet
- ✓BIR Certificate of Registration (BIR Form 2303)
- ✓Board resolutions authorizing significant transactions
- ✓Contracts and agreements for major transactions
- ✓Loan agreements and amortization schedules
Payroll and HR
- ✓Payroll register for all pay periods during the year
- ✓Summary of compensation paid per employee
- ✓SSS, PhilHealth, Pag-IBIG remittance records
- ✓Withholding tax on compensation records and BIR Form 2316 preparation
When Records Are Incomplete
If accounting records are incomplete, delayed, or disorganized, a cleanup bookkeeping engagement before the audit can bring records into acceptable condition. Starting the audit with unorganized records increases audit time and fees and may delay the final report.
FY 2026 Audit Engagement Inquiries
J.O. Tabalba & Co. is accepting inquiries for FY 2026 external audit engagements. Contact the firm to discuss your company's audit requirements.
This checklist is for general informational purposes only. Specific audit requirements vary by company size, industry, and engagement scope. Consult your auditor for the specific documents required for your engagement.