This free, guided checker walks your finance team through the key decision points for IFRS Records for Auditor. Answer a few questions to see the likely treatment and the evidence to document.
Answer a few quick questions below. It is private - nothing is submitted or stored - and takes about a minute.
This tool is a high-level IFRS screening aid for general information only and is not accounting, audit or legal advice. Conclusions require entity-specific evidence and judgement - confirm the treatment with your advisor.
Here is what the checker asks and why each step matters. Prefer to talk it through? Contact us and we will help directly.
Choose the accounting area with the most significant judgement (IAS 1.122), the greatest estimation uncertainty (IAS 1.125), or the closest reporting deadline. These areas attract the most audit challenge, so their prepared-by-client evidence should be assembled first. Where several areas compete, prioritise the one with a prior-year finding or a new, material transaction.
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Official guidance: IFRS issued standards
Tighter deadlines require a minimum document set first, then depth additions, mirroring consultation close processes for annual and interim reporting. Fix the target authorisation-for-issue date (IAS 10.17) and work back from it. Sequence the evidence so the assertions with the highest audit risk are supported first.
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Official guidance: IFRS issued standards
Prior-year findings on classification, consolidation, restatements, or going concern drive a broader prepared-by-client scope even when current-year amounts appear unchanged. Review the prior audit findings memo, any restatement under IAS 8, and management letter points. Areas of significant judgement (IAS 1.122) should carry the fullest documentation.
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Official guidance: IFRS issued standards
Consultation-backed files tie audit evidence to memo conclusions on scope, measurement, presentation, and disclosure rather than standalone data dumps. Where no Standard specifically applies, IAS 8.10 requires management to develop and document a policy that is relevant and reliable. Confirm the memo is approved, current, and reflects the transactions in the period before building the package.
Draft and approve the technical accounting memo documenting scope, analysis, and conclusion before assembling audit support (IAS 8.10).
Official guidance: IFRS issued standards
Index each item to facts, issue, guidance, analysis, conclusion, and disclosure sections used in consultation memos and financial statement close binders. IAS 1.113 requires each item in the primary statements to be cross-referenced to the related note. A clean index lets the auditor trace an assertion from the ledger to the memo conclusion without a separate request.
Build the cross-reference index from each document to its financial-statement line and memo section before submitting to the auditor (IAS 1.113).
Official guidance: IFRS issued standards
Provisions, impairment, financial instruments, and going-concern packages typically attach third-party reports with scope and reliance paragraphs. These reports feed the key sources of estimation uncertainty disclosed under IAS 1.125, so confirm the specialist's scope, date, and assumptions align with the accounting conclusion. Obtain the expert's competence and objectivity evidence for the auditor.
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Official guidance: IFRS issued standards
Close binders used in consultation engagements record preparer, reviewer, and tie-out to note disclosures before auditor handoff. Confirm the reviewer is independent of the preparer and that challenges raised in review were resolved and evidenced. Each sign-off should tie the item to the authorised financial statements it supports (IAS 1.15).
Complete preparer and independent reviewer sign-offs and tie-out to the authorised financial statements before auditor submission (IAS 1.15).
Official guidance: IFRS issued standards
Select the terminal checklist aligned to the accounting area chosen in the first step, so the prepared-by-client package matches the recognition, measurement, and disclosure requirements of the governing standard. The route should mirror the area of most significant judgement identified earlier, and its evidence should tie back to the approved technical memo.
Prepare the IFRS 15 revenue audit-support package reconciling the five-step analysis to recorded revenue and contract balances (IFRS 15.114-118). Prepare the IFRS 16 lease audit-support package reconciling the lease population to the subledger and disclosures (IFRS 16.51-60). Prepare the IAS 36 impairment audit-support package covering indicators, CGUs, recoverable amount, and sensitivity (IAS 36.126-137). Prepare the IAS 37 provisions audit-support package covering recognition, measurement, and contingent exposures (IAS 37.84-92). Prepare the group-accounting audit-support package covering control, eliminations, and NCI, with interests-in-other-entities disclosures (IFRS 12.7-31). Prepare the IFRS 9 and IFRS 7 audit-support package covering classification, valuation, ECL, and risk disclosures (IFRS 7.7-42). Prepare the going-concern audit-support package covering forecasts, mitigations, and material-uncertainty disclosures (IAS 1.25-26).
Official guidance: IFRS issued standards
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