What documents will an auditor ask for in a Sdn Bhd audit?

Section 266(4) gives the auditor access to the company's accounting and other records and the right to require information and explanations. A typical request list looks like this (firms differ).

Core accounts

• trial balance, general ledger and prior-year audited accounts;
• bank statements for every account at year-end and bank reconciliations.

Income and expenses

• sales invoices, contracts and customer statements;
• purchase invoices, supplier statements and aged creditors.

Assets and stock

• fixed asset register with purchase documents and depreciation workings;
• stock listing and the stock count sheets (the auditor may attend the count);
• aged debtors and doubtful debt assessment.

Liabilities and commitments

• loan, hire-purchase and lease agreements and statements;
• contracts, guarantees and legal matters;
• details of amounts owed to or by directors and other related parties.

People

• payroll records, EPF, SOCSO, EIS and tax deduction records;
• directors' remuneration.

Statutory and governance

• statutory registers, board and members' minutes, SSM lodgements;
• tax computations, returns and notices.

Tips. Organise by account, label documents with ledger references, and reconcile before the auditor arrives. Section 245 requires records that allow the accounts to be conveniently audited, and to be kept for seven years.