Catalog

	Table of Contents
p. 183 of 203 BACK | NEXT Foreword 1. Introduction to the Guidelines 2. User Instructions 3. Preparing and Appraising Investment Project 4. Financial Management of Executing Agencies 5. Reporting and Auditing 6. Financial Institutions 7. Knowledge Management 7.1. Useful Websites 7.2. Operations Manual (OM) 7.3. Project Administration Instructions (PAIs) 7.4. International Standards 7.5. International Accounting and Auditing Architecture 7.6. Financial Review Checklist for RRPs 7.7. Appraisal Checklist: Nonrevenue-Earning Project 7.8. Appraisal Checklist: Revenue-Earning Project 7.9. Appraisal Checklist: Private Sector Project 7.10. Appraisal Checklist: Financial Institution 7.11. Undertaking Sensitivity and Risk Analyses 7.12. Model Operating Covenants 7.13. Model Capital Structure Covenants 7.14. Model Liquidity Covenants 7.15. Commonly Used Ratios 7.16. Model Financial Statements: Service Organization 7.17. Model Financial Statements: Manufacturing Organization 7.18. Model Terms of Reference for an Auditor 7.19. Audit Report Questionnaire 7.19.1. Using the Audit Report Questionnaire 7.19.2. Authenticity, Form, and Timeliness 7.19.3. Audit Opinion 7.19.4. Matters Addressed 7.19.5. Auditor's Opinion and Report 7.19.6. Conclusion and Further Action (if any) Addendum

Financial Management and Analysis of Projects : 7. Knowledge Management

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7.19. Audit Report Questionnaire

7.19.1. Using the Audit Report Questionnaire

7.19.1.1. This questionnaire is provided only as an example of the nature and type of questions that should be considered when reviewing the report of an auditor. Financial analysts should have regard to the nature of the organization under audit and frame their questions accordingly.

7.19.1.2. Agencies operate in a wide range of sectors and activities, and therefore the form and nature of their financial statements will vary equally widely.

7.19.1.3. Further, approaches to, and the quality of auditing is variable. Therefore, the questions set out below should be regarded with some caution, because these may not have sufficient breath or depth for some institutional statements and audits. Conversely, these may also be considered too extensive for some EAs, their activities and the audit services available.

7.19.1.4. Nevertheless, by using this checklist, or a suitably modified version thereof to reflect the nature and form of the EA concerned, a financial analyst should be able to obtain a reasonable view of the acceptability of the financial statements concerned and the audit thereof. To the extent possible each question should be answered by either "YES", or "NO", or N/A (not applicable).

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