Capital Leasing Audit Work Program

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The purpose of this work program is to provide the general steps used to perform a capital leasing audit, including reviewing controls for authorization, validations, accuracy, completeness and timeliness.

Project work steps include: review the company’s leasing process procedures and policies; test a sample of lease agreement/contracts, invoices, customer POS and support documents to ensure compliance with the company’s existing policies; test a sample of billable transactions to verify the controls of the billing process; test a support accounting document to ensure the proper revenue recognition; review the controls over the procedures to identify and report potential problem leases and follow up on them; etc.

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