"The audit checklist assists auditors in conducting a thorough, systematic and consistent audit." Briefly highlight the benefits of checklist.

The audit checklist assists auditors in conducting a thorough, systematic and consistent audit. The checklists are used to guide and help the auditor to assess whether evidence meets audit criteria. It is important to remember that checklists are used to guide the auditor's and do not rigidly dictate exactly what is to be audited as in various event the auditor need to check beyond the checklist and the compliance requirement is different according to the nature and business of the company. Accordingly, the audit checklists support the audit process in identification of the various compliance requirements and have their own benefits for the performance of the audit. Though for all organization a uniform checklist can be considered but same need to be customized as per the organization and the scope of the audit. The benefits of the audit checklists are as under: Promote planning for the audit. Ensure a consistent audit approach. Act as a sampling plan and time manager. Serve as a memory aid. Provide a repository for notes collected during the audit process (audit field notes) Audit checklists provide assistance to the audit process. Auditors need to be trained in the use of a particular checklist and be shown how to use it to obtain maximum information by using good questioning techniques. Checklists assist an auditor to perform better during the audit process. Checklists help to ensure that the audit is conducted in a systematic and comprehensive manner and adequate evidence is obtained. Checklists provide the structure and continuity to the audit and ensure that the audit scope is being followed. Checklists provide a means of communication and a place to record data for use for future reference. A completed checklist provides objective evidence that the audit was performed. A checklist provides a record. Checklists can be used as an information base for planning future audits. Checklists can be provided to the auditee ahead of the onsite audit.