Asset Based Lending Audit Services
Asset Based Lending Audit Services

The following records will be needed for the audit:

 

1. Detailed A/R aging as of the last month end (Excel preferred).

 

2. Summary A/R agings for the last 13 months (Excel preferred). Line of credit balance each month end for the same months.

 

3. A/R activity / rollforward (AR beginning balance plus billings minus customer payments minus credit memos equals ending AR) by month for the last 12 months.

 

4. Summary A/P aging for the last 13 months (Excel preferred).

 

5. Latest open order / sales backlog report (Excel preferred).

 

6. Certificate of insurance covering personal property, liability & workers comp listing the bank as loss payee as respects to personal property.

 

7. Perpetual inventory report as of the audit date (Excel if possible).

 

8. Copy of the latest balance sheet & YTD income statement & trial balance as well as the same period last year. Copy of the last 2 fiscal year end CPA statements.

 

9. Federal (941's) & State (DE 9) payroll tax returns for the last 4 quarters (no hard copies needed).

 

10. Sales tax returns for the last 4 quarters, if applicable (no hard copies needed).

 

11. Last 3 bank statements and reconciliations. Any unreleased checks?

 

12. Name & phone number of CPA and corporate attorney. Any litigation against the company?

 

13. Name of accounting program.

 

 

If you have any questions, please give me a call at 818.730.3926 or send me an e-mail to roy@ablaudits.com.

Contact Us Today!

Collateral audits for

commercial lenders

 

Roy Sanchez - President                                                         

Direct: 818.730.3926                                                                              Fax:    

818.366.3424

 

Email:

roy@ablaudits.com

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