Published November 10, 2026
by Softtech Financials
6 min read
An audit is smoother when the information the auditor needs is already organised. Most delays come from missing documents, unsupported balances and unresolved questions and all three can be dealt with before fieldwork begins.
Start with the ledgers
- Confirm that all transactions for the year are recorded and posted in the correct period.
- Review the trial balance for unusual or unexpected balances.
- Check that opening balances agree to last year's signed financial statements.
- Clear suspense and clearing accounts or document why they remain.
Prepare reconciliations and schedules
| Area | What to prepare |
|---|---|
| Cash and bank | Bank reconciliations and statements at year-end |
| Receivables | Aged list that agrees to the ledger, with notes on doubtful balances |
| Payables | Supplier list that agrees to the ledger, with unrecorded liabilities reviewed |
| Fixed assets | Register with cost, additions, disposals and depreciation |
| Loans and borrowings | Statements or confirmations and repayment schedules |
| Payroll and taxes | Payroll summary and records of tax withheld or payable |
| Equity | Capital and share movement records and approvals for distributions |
Organise supporting documents
- File invoices, contracts and approvals in a consistent structure, such as by account and month.
- Keep agreements for significant transactions, loans and leases in one place.
- Prepare a list of related parties and any transactions with them.
- Be ready to explain unusual or one-off transactions in a sentence or two.
Create an open-items list
List every unresolved question with an owner and a status. Sharing the list early shows the auditor you know where the gaps are and helps you close them without a last-minute rush.
Check the reporting framework
Make sure you know which framework your statements must follow and that your accounting policies and disclosures match it. Our article on IFRS in Pakistan explains the structure.
Support from Softtech Financials
Our audit readiness service reviews your records, prepares schedules and organises documents. It works best when the underlying books are sound, so we often combine it with bookkeeping. Contact us to discuss your timetable.
Please note: This page is general information, not tax, legal or investment advice. Rules and thresholds change, so confirm the current position with the relevant authority or a qualified adviser before you act.
