Preparing for an audit doesn’t have to be stressful. With the right documents ready, the entire process becomes smoother, faster, and far more efficient. Here’s a clean, clear guide to what your company should prepare before the audit begins.
1. Start With Your Core Financial Records
These documents form the backbone of your audit.
- Management accounts (P&L, Balance Sheet, Trial Balance)
- Full general ledger
- Bank statements for all accounts
- Monthly bank reconciliations
2. Get Your Sales & Revenue Documents in Order
- Strong revenue support = fewer questions from auditors.
- Sales invoices and receipts
- Customer contracts or agreements
- Delivery orders and supporting evidence
- Credit notes issued
3. Organise Purchases & Expense Documents
- Clear expense records help auditors verify accuracy quickly.
- Supplier invoices and payment vouchers
- Rental, utility, and subscription bills
- Employee claim forms with receipts
- Petty cash logs
- Credit notes from suppliers
4. Prepare Payroll & HR Supporting Documents
- Payroll is always a key audit area.
- Monthly payroll summary
- EPF, SOCSO, EIS payment slips
- Employee and director contracts
- Bonus/commission schedules
- Director remuneration details
5. Update Your Fixed Asset Documentation
- Useful for verifying long-term investments.
- Fixed asset register
- Purchase/disposal invoices
- Depreciation schedule
- Hire-purchase agreements
6. Gather Loan & Banking Documents
- Shows auditors your financial commitments.
- Loan agreements
- HP agreements
- Credit card statements
- Interest schedules
7. Ensure Statutory Documents Are Ready
These prove compliance and corporate structure.
- SSM profile
- Incorporation documents
- Directors’ resolutions
- Company Constitution
8. Organise Your Tax-Related Documents
Auditors always review tax consistency.
- CP204 & instalment payments
- Previous year Form C & tax computation
- Form E & EA
- Withholding tax records
9. Prepare Inventory Records (If Applicable)
Vital for businesses dealing with stock.
- Stock count list (year-end)
- Stock movement listings
- Valuation method (FIFO or weighted average)
10. Final Supporting Documents to Include
These help complete the overall audit picture.
- Tenancy agreements
- Insurance policies
- Supplier/customer contracts
- Related party agreements
- Legal letters or litigation documents
This structured preparation not only helps auditors work more efficiently — it also strengthens your company’s financial transparency and reduces delays.