Fieldwork guide
What happens when auditors arrive at your closing
This guide walks controllers through the practical rhythm of a Ledger Strand statutory audit—from planning memos to warehouse observation and the closing meeting.
1. Planning week
We meet your finance lead to set materiality, identify significant risks, and lock the shareholder meeting date. You receive a request list covering the trial balance, significant contracts, and prior adjusting entries.
2. Interim procedures
Where the calendar allows, we test revenue and purchase cycles before year-end. Interim work reduces the volume of samples drawn in the final fieldwork week and surfaces control issues early.
3. Confirmations and observation
Bank and receivable confirmation letters go out with your authorisation. If inventory is material, we attend counts at agreed sites and document cut-off between warehouses.
4. Year-end fieldwork
Teams work from your offices or a quiet meeting room with access to ledgers and supporting binders. Questions are logged daily so your staff are not interrupted with duplicate requests.
5. Closing and report
Draft findings and proposed adjustments are discussed with management. After the board or shareholders approve the statements, we issue the auditor’s report and management letter.
Documents that speed fieldwork
- Final trial balance and mapping to statement lines
- Bank reconciliations and facility agreements
- Inventory count instructions and floor plans
- Related-party listing and board minutes
- Subsequent events through the report date
