F AND D FINANCE AND LEASING LTD

NAME OF COMPANY :BENCHMARK FINANCIAL SERVICES LTD FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 NATURE OF ASSIGNMENT: INTERNAL AUDIT Sl. No. AREA DETAILS

2011 ANNUAL AUDIT PLAN

TARGET START DATE: 28-Feb-11 END DATE: 28-Feb-12 MAN HOURS: 2,160 Target Staff's End No. of Total Name Date Days/mnthHours Frequency

INTERNAL AUDIT
ACTUAL

Extent of Check

Start Date

1,908 Staff's Initial

01

CREDIT DEPT:

Credit Processing and procedure Loans Disbursement

Test to see whether the process '11 Jan. Dec. '11 is followed and documentation well processed. To verify whether amounts meant 1st Qtr4th Qtr for disbursement has been properly disburseed.

40 Monthly

PRINCE ODURO PO ANDREWS ANSAHA A DANIEL OKOH DO THOMAS BRAKOTAB CECIL-CLAUDE CC

8/Qtr

256 Quarterly

Debtors Monitoring/Recovery/ to see where debtorsJan. '11 To test Dec. '11 Reconciliation/ Classification. are settling their accounts as expected and expected reconciliation and classifications. Submission of input/ Deletions to see whether all bona '11 To test Jan. Dec. '11 of input at paymasters. fide debtors are submitted for payments and rightful deletions are made.
02

20

160 Monthly

THOMAS BRAKOTAB ROYAL ADJEI RA KEN OWUSU KO

40 Monthly

THOMAS BRAKOTAB EMMANUEL T ET

STORES DEPT

Ordering and Receiving of verify that all goods ordered '11 To Jan. Dec. '11 goods by the company are received in good condition at the warehouse. Way-billing and Returning of To test to see whether all goods '11 Jan. Dec. '11 goods out of warehouse are checked and waybilled and all returns are checked and booked. Record Keeping and Security at to see whether all orders, To test 1st Qtr4th Qtr warehouse issues and returns are adequately recorded. That no unauthorized entry are made by unauthorized persons at restricted area. Stock taking, Reconciliationtest the accuracy of stockJan. '11 To items Dec. '11 and Valuation. in the warehouse and the value.

32 Monthly

THOMAS BRAKOTAB OSEI PUNI OP

16 Monthly

PRINCE ODURO PO DANIEL ASABERE DA

8/Qtr

256 Quarterly

PRINCE ODURO PO DANIEL ASABERE DA OSEI PUNI OP

1 1

4 Monthly 2 Monthly

PRINCE ODURO PO THOMAS BRAKOTAB PRINCE ODURO OP

03

ACCOUNTS DEPT: Payroll

To test payroll and all vouchers for Dec. '11 Jan. '11

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN the payment of staff and checking tax, SSNIT, & Other statutory ded. to authorized staff.

INTERNAL AUDIT
CECIL-CLAUDE CC

Payments(Creditors, Other Exp.) true creditors of the Qtr4th Qtr To test for 1st company, payment to them in respect of goods supplied, and basis for pmt of other exp and authority for such payments and their recordings.

5/Qtr

160 Quarterly

PRINCE ODURO OP DANIEL OKOH DO CECIL-CLAUDE CC

Receipts(investment incomes) To verify whether investment half yr 2nd half yr 2 incomes are received as agreed and recorded accordingly. Management Accounts To test the accuracy and the Jan. '11 Dec. '11 authenticity of figures contained in the financial statement meant for decision making. Bank Reconciliation Statement to see whether recon- Qtr4th Qtr To verify 1st ciliation statements are prepared monthly and are reviewed. Prudential Reports and Other To Verify whether all mandatory '11 Jan. Dec. '11 Statutory preparation & preparations are made and subSubmission mitted on timely basis. Fixed Assets To test their existence, recording, 1st Qtr4th Qtr maintenance and depreciation. 2

18 Bi-annually PRINCE ODURO OP

DANIEL ASABERE DA

16 Monthly

PRINCE ODURO OP KEN OWUSU KO ROYAL ADJEI RA

5/Qtr

160 Quarterly

PRINCE ODURO OP EMMANUEL T ET PRINCE ODURO OP OSEI PUNI OP

16 Monthly

3/Qtr

24 Quarterly

PRINCE ODURO OP DANIEL OKOH DO

04

F and half yr 2nd half yr 2 OPERATIONS DEP'T iling of: all staff details To verify whether all staff and customers details. customers details are appropriately filed under security. To Check to see whether Staff are 2nd half yr 2 half yr adequately appraised.

18 Bi-annually PRINCE ODURO OP

EMMANUEL T ET

Staff Appraisal

18 Bi-annually PRINCE ODURO OP

OSEI PUNI OP

Office Security and Corporate to see Office working half yr 2nd half yr 2 To test enviimage management ronment security and corporate image issues are managed.

18 Bi-annually PRINCE ODURO OP

ROYAL ADJEI RA

F AND D FINANCE AND LEASING LTD

05

2011 ANNUAL AUDIT PLAN To test whether the various security Jan. '11 Dec. '11 in the compamy's software are adequate & are working properly. To Verify whether the company's '11 Jan. Dec. '11 data is adequately protected & backed-up consistenly. 4 32 Monthly

INTERNAL AUDIT
PRINCE ODURO OP KEN OWUSU KO

Software Security INFORMATIONAL TECH.

Data Security

32 Monthly

PRINCE ODURO OP CECIL-CLAUDE CC

Data Entry and Varification Test to see whether approp- '11 To Jan. Dec. '11 riate data is entered into the company's software and that they are adequate and correctly entered.
06

32 Monthly

THOMAS BRAKOTAB ANDREWS ANSAHA A

To 1st Qtr4th Qtr RISK ASSESSMENTOperational, Financial and assess the level of risks associa& Credit Risks ted with the above areas and make CONTROL appropriate recommendations.

5/Qtr

160 Quarterly

PRINCE ODURO OP ANDREWS ANSAHA A

NOTE: REPORTING OF FINDINGS AND RECOMMENDATIONS WILL BE DONE ON QUARTERLY BASES.

..

PREPARED BY: HEAD, INTERNAL AUDIT

APPROVED BY: BOARD AUDIT SUB-COMMITTEE

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

CTUAL

Remarks

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

F AND D FINANCE AND LEASING LTD

NAME OF COMPANY :F & D FINANCE AND LEASING LTD FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 NATURE OF ASSIGNMENT: INTERNAL AUDIT
Sl. No. AREA DETAILS Extent of Check

2011 ANNUAL AUDIT PLAN

START DATE: END DATE: MAN HOURS:
Start Date Target End Date Total Hours Actual / PRIORITZED Start End Total Date Date Hours

INTERNAL AUDIT
TARGET 28-Feb-11 28-Feb-12 2,160
Staff's Name

ACTUAL

1,908
Staff's Initial

01

CREDIT DEPT:

Credit Processing and procedure to see whether the process Test is followed and documentation well processed. Loans Disbursement To verify whether amounts meant for disbursement has been properly disburseed.

Debtors Monitoring/Recovery/To test to see where debtors Reconciliation/ Classification. are settling their accounts as expected and expected reconciliation and classifications. Submission of input/ Deletions oftest to see whether all bona To input at paymasters. fide debtors are submitted for payments and rightful deletions are made. STORES DEPT Ordering and Receiving of goods ensure that all goods ordered To by the company are received in good condition at the warehouse. Way-billing and Returning of goods to see whether all goods To test out of warehouse are checked and waybilled and all returns are checked and booked. Record Keeping and Security at test to see whether all orders, To warehouse issues and returns are adequately recorded. That no unauthorized entry are made by unauthorized persons at restricted area. Stock taking, Reconciliation and test the accuracy of stock items To Valuation. in the warehouse and the value. ACCOUNTS DEPT: Payroll To Vet payroll and all vouchers for the payment of staff by checking tax, SSNIT, & Other statutory ded. to authorized staff.

Payments(Creditors, Other Exp.) test for true creditors of the To

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

company, payment to them in respect of goods supplied, and basis for pmt of other exp and authority for such payments and their recordings.

INTERNAL AUDIT

Receipts(investment incomes) o verify whether investment T incomes are received as agreed and recorded accordingly. Management Accounts To test the accuracy and the authenticity of figures contained in the financial statement meant for decision making.

Bank Reconciliation Statement verify to see whether reconTo ciliation statements are prepared monthly and to review them. Prudential Reports and Other To Verify whether all mandatory Statutory preparation & Submission preparations are made and submitted on timely basis. Fixed Assets To test their existence, recording, maintenance and depreciation.

OPERATIOND DEP'TFiling of: all staff details and custoTo verify whether all staff and mers details. customers details are appropriately filed under security. Staff Appraisal To Check to see whether Staff are adequately appraise.

Office Security and Corporate To test to see Office working enviimage management ronment security and corporate image issues are managed. INFORMATIONAL TECH. Software Security To test whether the various security in the compamy's software are adequate & are working properly. To Verify whether the company's data is adequately protected & backed-up consistenly. To Check to see whether appropriate data is entered into the company's software and that they adequate and correctly entered.

Data Sesurity

Data Entry and Varification

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

RISK ASSESSMENT & Operational, Financial and Creditassess the level of risks associaTo CONTROL Risks ted with the above areas and make appropriate recommendations.

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

CTUAL

Remarks

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

F AND D FINANCE AND LEASING LTD

NAME OF COMPANY :F & D FINANCE AND LEASING LTD FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 NATURE OF ASSIGNMENT: INTERNAL AUDIT
Sl. No. AREA DETAILS Extent of Check

2011 ANNUAL AUDIT PLAN

START DATE: END DATE: MAN HOURS:
Start Date Target End Date Total Hours Actual / PRIORITZED Start End Total Date Date Hours

INTERNAL AUDIT
TARGET 28-Feb-11 28-Feb-12 2,160
Staff's Name

ACTUAL

1,908
Staff's Initial

01

CREDIT DEPT:

Credit Processing and procedure to see whether the process Test is followed and documentation well processed. Loans Disbursement To verify whether amounts meant for disbursement has been properly disburseed.

Debtors Monitoring/Recovery/To test to see where debtors Reconciliation/ Classification. are settling their accounts as expected and expected reconciliation and classifications. Submission of input/ Deletions oftest to see whether all bona To input at paymasters. fide debtors are submitted for payments and rightful deletions are made. STORES DEPT Ordering and Receiving of goods ensure that all goods ordered To by the company are received in good condition at the warehouse. Way-billing and Returning of goods to see whether all goods To test out of warehouse are checked and waybilled and all returns are checked and booked. Record Keeping and Security at test to see whether all orders, To warehouse issues and returns are adequately recorded. That no unauthorized entry are made by unauthorized persons at restricted area. Stock taking, Reconciliation and test the accuracy of stock items To Valuation. in the warehouse and the value. ACCOUNTS DEPT: Payroll To Vet payroll and all vouchers for the payment of staff by checking tax, SSNIT, & Other statutory ded. to authorized staff.

Payments(Creditors, Other Exp.) test for true creditors of the To

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

company, payment to them in respect of goods supplied, and basis for pmt of other exp and authority for such payments and their recordings.

INTERNAL AUDIT

Receipts(investment incomes) o verify whether investment T incomes are received as agreed and recorded accordingly. Management Accounts To test the accuracy and the authenticity of figures contained in the financial statement meant for decision making.

Bank Reconciliation Statement verify to see whether reconTo ciliation statements are prepared monthly and to review them. Prudential Reports and Other To Verify whether all mandatory Statutory preparation & Submission preparations are made and submitted on timely basis. Fixed Assets To test their existence, recording, maintenance and depreciation.

OPERATIOND DEP'TFiling of: all staff details and custoTo verify whether all staff and mers details. customers details are appropriately filed under security. Staff Appraisal To Check to see whether Staff are adequately appraise.

Office Security and Corporate To test to see Office working enviimage management ronment security and corporate image issues are managed. INFORMATIONAL TECH. Software Security To test whether the various security in the compamy's software are adequate & are working properly. To Verify whether the company's data is adequately protected & backed-up consistenly. To Check to see whether appropriate data is entered into the company's software and that they adequate and correctly entered.

Data Sesurity

Data Entry and Varification

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

RISK ASSESSMENT & Operational, Financial and Creditassess the level of risks associaTo CONTROL Risks ted with the above areas and make appropriate recommendations.

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

CTUAL

Remarks

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

F AND D FINANCE AND LEASING LTD

NAME OF COMPANY :F & D FINANCE AND LEASING LTD FOR THE PERIOD: JANUARY, 2011 - DECEMBER, 2011 NATURE OF ASSIGNMENT: INTERNAL AUDIT
Sl. No. AREA DETAILS Extent of Check

2011 ANNUAL AUDIT PLAN

START DATE: END DATE: MAN HOURS:
Start Date Target End Date Total Hours Actual / PRIORITZED Start End Total Date Date Hours

INTERNAL AUDIT
TARGET 28-Feb-11 28-Feb-12 2,160
Staff's Name

ACTUAL

1,908
Staff's Initial

01

CREDIT DEPT:

Credit Processing and procedure to see whether the process Test is followed and documentation well processed. Loans Disbursement To verify whether amounts meant for disbursement has been properly disburseed.

Debtors Monitoring/Recovery/To test to see where debtors Reconciliation/ Classification. are settling their accounts as expected and expected reconciliation and classifications. Submission of input/ Deletions oftest to see whether all bona To input at paymasters. fide debtors are submitted for payments and rightful deletions are made. STORES DEPT Ordering and Receiving of goods ensure that all goods ordered To by the company are received in good condition at the warehouse. Way-billing and Returning of goods to see whether all goods To test out of warehouse are checked and waybilled and all returns are checked and booked. Record Keeping and Security at test to see whether all orders, To warehouse issues and returns are adequately recorded. That no unauthorized entry are made by unauthorized persons at restricted area. Stock taking, Reconciliation and test the accuracy of stock items To Valuation. in the warehouse and the value. ACCOUNTS DEPT: Payroll To Vet payroll and all vouchers for the payment of staff by checking tax, SSNIT, & Other statutory ded. to authorized staff.

Payments(Creditors, Other Exp.) test for true creditors of the To

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

company, payment to them in respect of goods supplied, and basis for pmt of other exp and authority for such payments and their recordings.

INTERNAL AUDIT

Receipts(investment incomes) o verify whether investment T incomes are received as agreed and recorded accordingly. Management Accounts To test the accuracy and the authenticity of figures contained in the financial statement meant for decision making.

Bank Reconciliation Statement verify to see whether reconTo ciliation statements are prepared monthly and to review them. Prudential Reports and Other To Verify whether all mandatory Statutory preparation & Submission preparations are made and submitted on timely basis. Fixed Assets To test their existence, recording, maintenance and depreciation.

OPERATIOND DEP'TFiling of: all staff details and custoTo verify whether all staff and mers details. customers details are appropriately filed under security. Staff Appraisal To Check to see whether Staff are adequately appraise.

Office Security and Corporate To test to see Office working enviimage management ronment security and corporate image issues are managed. INFORMATIONAL TECH. Software Security To test whether the various security in the compamy's software are adequate & are working properly. To Verify whether the company's data is adequately protected & backed-up consistenly. To Check to see whether appropriate data is entered into the company's software and that they adequate and correctly entered.

Data Sesurity

Data Entry and Varification

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

RISK ASSESSMENT & Operational, Financial and Creditassess the level of risks associaTo CONTROL Risks ted with the above areas and make appropriate recommendations.

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

CTUAL

Remarks

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT

F AND D FINANCE AND LEASING LTD

2011 ANNUAL AUDIT PLAN

INTERNAL AUDIT