Management Reporting | Audit
What your auditor asks for, already assembled.
Trial balance with movement, journal listings with who posted them and when, the audit trail, related-party detail, and the supporting documents attached to the transactions they support. The first request list is answered from one place rather than from four people’s inboxes over two weeks.
What the system does
Capability, input, output.
| Capability | Input | Output |
|---|---|---|
| Trial balance | The period | Opening, movement and closing per account, drillable to transactions |
| Journal listings | Entries posted in the period | With who posted, who approved, when, and the narrative |
| Manual entry focus | Journals not generated by a process | Isolated, since these are what testing concentrates on |
| Audit trail | Any record | Changes with their author and timestamp, retained rather than overwritten |
| Supporting documents | A sampled transaction | The invoice, approval and contract attached to it, not filed separately |
| Related parties | Counterparties flagged as related | Transactions and balances presented as their own population |
| Sample response | An auditor’s selection | Each item answered with its documents in one view |
-
Trial balance
- Input
- The period
- Output
- Opening, movement and closing per account, drillable to transactions
-
Journal listings
- Input
- Entries posted in the period
- Output
- With who posted, who approved, when, and the narrative
-
Manual entry focus
- Input
- Journals not generated by a process
- Output
- Isolated, since these are what testing concentrates on
-
Audit trail
- Input
- Any record
- Output
- Changes with their author and timestamp, retained rather than overwritten
-
Supporting documents
- Input
- A sampled transaction
- Output
- The invoice, approval and contract attached to it, not filed separately
-
Related parties
- Input
- Counterparties flagged as related
- Output
- Transactions and balances presented as their own population
-
Sample response
- Input
- An auditor’s selection
- Output
- Each item answered with its documents in one view
Audit Reports FAQ
What buyers ask.
What does an audit actually ask for first?
Usually the trial balance with movement, a journal listing, and then a sample of transactions with their supporting documents. The first two are quick from any system. The third is where audits stall, because the documents live somewhere other than the transactions.
Why isolate manual journals?
Because that is where testing concentrates. Entries generated by a process are predictable; entries someone typed at period end are the ones an auditor wants to understand, so they are presented as their own population rather than buried among thousands.
Can our auditor have direct access?
Yes, scoped to the periods and areas they are engaged on. That is generally better for both sides than exporting a large extract, which is both harder to use and a broader disclosure than intended.
Does this replace our auditor?
No, and nothing here should be read that way. It removes the assembly work that makes an audit slow and expensive, which is a different thing from the judgement an auditor is engaged to apply.
What about prior years?
Retained as they stood, with changes recorded against them rather than over them. The question of what the numbers were before a restatement is one that gets asked, and a system that overwrites cannot answer it.
See what your next audit request list would return.
Connect your books, free. Trial balance, journals and the documents behind them assemble from what you have posted.