Capital Leasing Audit Work Program

Learn about the steps for performing a capital leasing audit, including reviewing controls, testing lease agreements/contracts, and verifying the billing process.

Project work steps include: review the company’s leasing process procedures and policies; test a sample of lease agreements/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.