These checks are prescribed to provide clarity and promote consistency on the work performed by the auditor.
1. Audit Checklist
External auditors should use the Audit Checklist for Form PL-R1 (31 KB) to carry out the minimum checks.
2. Performing the Review
i) The auditor is not required to limit his work to these minimum checks. In the course of performing the review, the auditor is expected to:
- Exercise his professional judgment; and
- Make enquiries and/or perform additional procedures to clear his doubts if there is anything to suggest that the particulars and meter readings set out on Form PL-R1 are incorrect.
ii) For identification purpose, IRAS requires the following to be provided on Form PL-R1:
- The audit firm's stamp
- The name of auditor or representative who is involved in the review.
The club should submit to IRAS the audit checklist with details of the exception together with its monthly filing of PL duty.
The club does not need to submit the checklist to IRAS. Instead, the club should retain a copy of the completed checklist and submit it upon IRAS' request.