Download these 10 Free Audit Schedule Templates prepared using MS Excel to assist our website visitors in their day to day Audit Schedule needs.
Audit is a well known process of evaluation and check. There are several different types of audits but most commonly, we see financial audits and compliance audits. The key purpose of conducting an audit is to ensure that the company or organization is working according to the set standards and it is following all the rules and regulations. In organizations, audits are planned very frequently and the schedule of each audit is indicated on the audit schedule document. This is a formal document that has the timetable for the upcoming audits. Before an audit is conducted, the company has to make certain arrangements i.e. gather essential documents or keeping a certain area of the factory open and running and if there is a surprise audit, it can create delays for the auditors. In order to ensure that everything is in order and there won’t be any surprises, audit schedules are created and shared with the organizations.
Free Audit Schedule Templates:
Here are previews and download links for these Free Audit Schedule Templates created in MS Excel format.
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Download link for this audit schedule template 04 in MS Excel Worksheet Format is here,
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Critical importance of Audit Schedule:
It helps catching Mistakes Earlier:
One of the most important benefits of conducting frequent audits and planning audit schedule is that it reveals critical mistakes before they cause further damage. In most of the organizations, finance department is the center point of the management because it is responsible for handling revenue and expenses. It is possible for an employee to make a mistake or error in the documents which is overlooked by his supervisor. This mistake will most probably be revealed during the audit and before it’s reflected in any reports or presentations, the auditors have the opportunity to correct it.
It keeps Damage to Minimum:
Making a mistake is not uncommon after all we all are human and humans make mistakes. We are not programmed as computers to just work on a straight line and the important part is to control the mistake in time. Organizations and companies conduct frequent audits because they need to find the errors and mistakes in time before they cause further damage. For instance, an employee made a mistake in the annual projected budget and if there is an audit planned, it will reveal this mistake before it goes to the executives or approved by the board of directors.
It Shows Company’s Confidence in Management:
The more frequent financial and compliance audits are planned, the more confidence the company has in its management and operations. Each audit reveals some kind of mistakes and errors and then it’s up to the company to correct those mistakes. When the next audit is planned, the auditors first check the report of the previous audit and see if the indicated mistakes are corrected. This brings certain credibility and higher reputation to the organization that keeps getting better.
It helps implement Compliance Regulations:
Most of the general audits are conducted on the request from the customer. For instance, a customer gets apparel products from a vendor and they need to ensure the factory is working according to the compliance rules and regulations. So they ask the auditing company to pay a visit and schedule an audit. This audit not only indicates towards the issues or compliance related problems the factory has but it can also guide the admin department to correct those mistakes and schedule another audit for evaluation.