Financial Model Audit Checklist
Complete this checklist to assess the quality and integrity of a financial model across key audit criteria.
Model Reference or Name
*
Is the model’s structure logical and easy to follow?
*
Yes
Partially
No
Rate the completeness of the model (all relevant components included).
*
Incomplete
1
2
3
4
Comprehensive
5
1 is Incomplete, 5 is Comprehensive
Assumptions are clearly stated and documented.
*
Yes
Partially
No
Formulas are consistent and free from errors.
*
Many Errors
1
2
3
4
No Errors
5
1 is Many Errors, 5 is No Errors
Outputs are accurate and reconcile with source data.
*
Yes
Partially
No
Documentation quality (instructions, version notes, etc.)
*
Poor
1
2
3
4
Excellent
5
1 is Poor, 5 is Excellent
Review the following aspects and rate each:
*
Rows
Clear Labeling
Consistent Formatting
Appropriate Use of Checks
Poor
1
2
3
Fair
4
5
6
Good
7
8
9
Very Good
10
11
12
Excellent
13
14
15
Are there any error checks or validation mechanisms in place?
*
Yes
Partially
No
Comments or recommendations for improvement
Submit Checklist
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