Audit PBC
Audit PBC checklist
A PBC list is the set of records the client prepares before the audit or review team starts fieldwork. A complete list shortens the audit; a list that arrives in pieces, with the same item requested three times, turns a two-week engagement into a two-month one. This checklist groups the common PBC items by audit area, so the client can assign each one to a person and a date.
Who sends itSent by the audit or review team to the client's controller or finance lead before fieldwork, with the client's own deadline for each area.
0 of 39 ticked
01Engagement and planning
02Revenue and receivables
03Expenses and payables
04Cash and investments
05Fixed assets and inventory
06Debt, equity and legal
07Tax and payroll
08Representations and close
What firms get wrong
- Sending the PBC list without an owner or due date for each item, so every item waits for the same person.
- Providing a PDF of the general ledger instead of a usable export, which forces the audit team to re-key it.
- Leaving the related-party transactions out of the list, which is often the most sensitive area.
- Waiting until the end of fieldwork to raise a missing contract or a subsequent event.
- Assuming the prior-year PBC list is complete for this year, when the business has changed.
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Questions about this checklist
What does PBC mean in an audit?
PBC means prepared by client. It is the list of documents and schedules the audit team asks the client to prepare before fieldwork, such as the trial balance, aging reports, reconciliations and contracts.
How far in advance should a client receive the PBC list?
Send the list at least four to six weeks before fieldwork, with each item assigned to a person and a due date. A list that arrives the week fieldwork starts is already late.
What if the client cannot provide an item?
Mark the item as unavailable, explain why, and offer an alternative. An audit team can work with a missing item if it knows early; it cannot work with an item that is silently missing.
Does a review need the same PBC list?
A review needs fewer procedures than an audit, but many of the same records: the trial balance, financial statements, reconciliations, debt agreements and significant contracts. The engagement letter defines the scope.
Who should own the PBC list?
The client's controller or finance lead should own the list, assign each item to a person, and track the status in one place. The audit team should have one contact, not five.
Sources
Checked November 3, 2026. Tax rules, forms and thresholds change; confirm them with the IRS or your tax software before relying on them.
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