Annual Internal Audit Plan 2011

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F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AU

NAME OF COMPANY :BENCHMARK FINANCIAL SERVICES LTD TARGET ACTU

FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 START DATE: 28-Feb-11

NATURE OF ASSIGNMENT: INTERNAL AUDIT END DATE: 28-Feb-12

MAN HOURS: 2,160 1,908

Sl. AREA DETAILS Extent Target Staff's Staff's

No. of Start End No. of Total

Frequency

Name Initial

Check Date Date ays/mnt Hours

01 CREDIT DEPT: Credit Processing and Test to see whether the procJan. '1 Dec. '11 5 40Monthly PRINCE ODURO PO

procedure is followed and documentation ANDREWS ANSAAA

well processed. DANIEL OKOH DO

Loans Disbursement To verify whether amounts 1st Qtr4th Qtr 8/Qtr 256Quarterly THOMAS BRAKOTAB

for disbursement has been CECIL-CLAUDE CC

properly disburseed.

Debtors Monitoring/Rec To test to see where debtorsJan. '1 Dec. '11 20 160Monthly THOMAS BRAKOTAB

Reconciliation/ Classific are settling their accounts as ROYAL ADJEI RA

expected and expected reconci- KEN OWUSU KO

liation and classifications.

Submission of input/ Del To test to see whether all bo Jan. '1 Dec. '11 5 40Monthly THOMAS BRAKOTAB

of input at paymasters.fide debtors are submitted for EMMANUEL T ET

payments and rightful deletions

are made.

02 STORES DEPT Ordering and Receiving To verify that all goods orde Jan. '1 Dec. '11 4 32Monthly THOMAS BRAKOTAB

goods by the company are received in OSEI PUNI OP

good condition at the warehouse.

Way-billing and Returni To test to see whether all go Jan. '1 Dec. '11 2 16Monthly PRINCE ODURO PO

goods out of warehouse are checked DANIEL ASABERDA

and waybilled and all returns are

checked and booked.

Record Keeping and Sec To test to see whether all or 1st Qtr4th Qtr 8/Qtr 256Quarterly PRINCE ODURO PO

warehouse issues and returns are adequately DANIEL ASABERDA

recorded. That no unauthorized OSEI PUNI OP

entry are made by unauthorized

persons at restricted area.

Stock taking, Reconcilia To test the accuracy of stock Jan. '1 Dec. '11 1 4Monthly PRINCE ODURO PO

and Valuation. in the warehouse and the value. THOMAS BRAKOTAB

03 ACCOUNTS DEPT: Payroll To test payroll and all vouch Jan. '1 Dec. '11 1 2Monthly PRINCE ODURO OP



F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUDIT

the payment of staff and checking CECIL-CLAUDE CC

tax, SSNIT, & Other statutory ded.

to authorized staff.

Payments(Creditors, Ot To test for true creditors of t 1st Qt 4th Qtr 5/Qtr 160Quarterly PRINCE ODURO OP

company, payment to them in DANIEL OKOH DO

respect of goods supplied, and CECIL-CLAUDE CC

basis for pmt of other exp and

authority for such payments and

their recordings.

Receipts(investment incTo verify whether investmenhalf yr 2nd half 2 18 Bi-annually PRINCE ODURO OP

incomes are received as agreed DANIEL ASABER DA

and recorded accordingly.

Management Accounts To test the accuracy and th Jan. '1 Dec. '11 2 16Monthly PRINCE ODURO OP

authenticity of figures contained in KEN OWUSU KO

the financial statement meant for ROYAL ADJEI RA

decision making.

Bank Reconciliation StatTo verify to see whether rec 1st Qt 4th Qtr 5/Qtr 160Quarterly PRINCE ODURO OP

ciliation statements are prepared EMMANUEL T ET

monthly and are reviewed.

Prudential Reports and To Verify whether all mandatJan. '1 Dec. '11 2 16Monthly PRINCE ODURO OP

Statutory preparation & preparations are made and sub- OSEI PUNI OP

Submission mitted on timely basis.

Fixed Assets To test their existence, recor1st Qt 4th Qtr 3/Qtr 24 Quarterly PRINCE ODURO OP

maintenance and depreciation. DANIEL OKOH DO

04 OPERATIONS DEP'Filing of: all staff details To verify whether all staff anhalf yr 2nd half 2 18 Bi-annually PRINCE ODURO OP

customers details. customers details are appropriately EMMANUEL T ET

filed under security.

Staff Appraisal To Check to see whether Stahalf yr 2nd half 2 18 Bi-annually PRINCE ODURO OP

adequately appraised. OSEI PUNI OP

Office Security and CorpTo test to see Office working half yr2nd half 2 18Bi-annually PRINCE ODURO OP

image management ronment security and corporate ROYAL ADJEI RA

image issues are managed.





F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL AUD

AL

Remarks









F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN

NAME OF COMPANY :F & D FINANCE AND LEASING LTD TAR

FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 START DATE: 28-F

NATURE OF ASSIGNMENT: INTERNAL AUDIT END DATE: 28-F

MAN HOURS:

Sl. AREA DETAILS Extent Target Actual / PRIORITZED

No. of Start End Total Start End Total

Check Date Date Hours Date Date Hours

01 CREDIT DEPT: Credit Processing and proced Test to see whether the process

is followed and documentation

well processed.

Loans Disbursement To verify whether amounts meant

for disbursement has been


Debtors Monitoring/Recovery/To test to see where debtorsReconciliation/ Classification. are settling their accounts as

expected and expected reconci-


Submission of input/ Deletion To test to see whether all bona

input at paymasters. fide debtors are submitted for


are made.

STORES DEPT Ordering and Receiving of go To ensure that all goods orderedby the company are received in


Way-billing and Returning of To test to see whether all goods

out of warehouse are checked


checked and booked.

Record Keeping and Security To test to see whether all orders,

warehouse issues and returns are adequately

recorded. That no unauthorized



Stock taking, Reconciliation a To test the accuracy of stock items




company, payment to them in

respect of goods supplied, and



their recordings.

Receipts(investment incomesTo verify whether investmentincomes are received as agreed


Management Accounts To test the accuracy and the

authenticity of figures contained in

the financial statement meant for

decision making.

Bank Reconciliation StatemenTo verify to see whether recon-

ciliation statements are prepared

monthly and to review them.

Prudential Reports and Other To Verify whether all mandatory

Statutory preparation & Sub preparations are made and sub-

mitted on timely basis.

Fixed Assets To test their existence, recording,

maintenance and depreciation.

OPERATIOND DEP'TFiling of: all staff details and To verify whether all staff and

mers details. customers details are appropriatelyfiled under security.

Staff Appraisal To Check to see whether Staff are

adequately appraise.

Office Security and Corporate To test to see Office working envi-

management ronment security and corporate


INFORMATIONAL TESoftware Security To test whether the various securityin the compamy's software are

adequate & are working properly.

Data Sesurity To Verify whether the company's

data is adequately protected &




RISK ASSESSMENT Operational, Financial and Cr To assess the level of risks associa-

CONTROL Risks ted with the above areas and make

appropriate recommendations.



F AND D FINANCE AND LEASING LTD 2011 ANNUAL AUDIT PLAN INTERNAL

L

Remarks













MAN HOURS:






well processed.










are made.

STORES DEPT Ordering and Receiving of go To ensure that all goods ordered

by the company are received in





checked and booked.



recorded. That no unauthorized











their recordings.






decision making.





























L

Remarks













MAN HOURS:






well processed.










are made.

STORES DEPT Ordering and Receiving of go To ensure that all goods ordered

by the company are received in





checked and booked.



recorded. That no unauthorizedentry are made by unauthorized










their recordings.






decision making.





























L

Remarks







Annual Internal Audit Plan 2011

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