A PBC Request Llist can take many forms. It might be in a Word document or an Excel spreadsheet. Or your audit teammight use software to automate and streamline the audit checklist. Whatever the format, CPAs typically organize the client PBC List by categorizing requested items into categories based on the financial statement presentation, such as .
The acronym PBC stands for “Prepared by Client” or “Provided by Client.” In no time, you’ll be intimately familiar with this term, as it will be stamped or indicated all over your audit workpapers, wherever information has been—you guessed it—provided by the client. An audit PBC List is simply a list of requested items that the auditors need from t.
An audit PBC List is simply a list of requested items that the auditors need from the client to plan the audit, evaluate internal controls, and begin fieldwork
External auditors send an initial PBC Llist to the client early in the audit preparation or planning phase
When an audit starts, the auditor will come up with a timeline and a list of items that they need you to provide (colloquially called PBCs, or “provided by client”)
It is in your best interest to get the information to the auditor as soon as you can
When you provide your PBCs, make sure you understand what the auditor is asking for
The specific documents included in a PBC Request List vary depending on the type of audit and business being audited. However, the following list can be a great starting place to help you formulate your client list.
The better the PBC schedules, the faster the audit
The PBC checklist helps you organize and manage your pre-audit workload, so your financial team can ensure they have addressed all requests – ideally throughout the year – but certainly before the audit begins
The better the PBC schedules, the faster the audit
The PBC checklist helps you organize and manage your pre-audit workload, so your financial team can ensure they have addressed all requests – ideally throughout the year – but certainly before the audit begins
