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(k) Maintain documentation and record-keeping
This step is crucial for maintaining a record of the work performed, decisions
made, and conclusions reached. This may include workpapers, memos, reports, and
correspondence. The work plan should specify requirements for documentation and
record-keeping, including storage, retention, and confidentiality considerations.
FOR ONLINE READING ONLY
(l) Include appendices
Appendices may include supplementary information such as reference materials,
sample documents, regulatory guidance, or additional details that support the work
plan.
Table 10.1 reflects a simplified, generic template of an accounting work plan serving
as basis for understanding its structure and contents. The generic template assumes a
multi task for a company for upcoming quarter, which operates in different geographical
boundaries and sectors.

Table 10. 1: Generic Template of an Accounting Work Plan

Month Accounting Activity Responsible Party Resources Needed
Month 1 Prepare quarterly Financial Financial data,
financial statements for Department accounting software
each sector
Month 2 LANGUAGE EDITING
Audit tools, Previous
Conduct internal audits in Internal Audit Team
various departments financial records
Month 1 Procure new accounting IT Department, HR Budget for new
software and train staff Department software, Training
on its use materials

Month 3 File tax returns for Tax Department Financial statements,
operations in different Tax filing software
countries
Month 3 Prepare budgets for the Financial Previous year’s
next fiscal year for each Department financial data,
sector Budgeting tools

Month 2 Conduct a financial Merger & Financial data of both
analysis of a potential Acquisition Team companies, financial
merger (M&A Team) analysis tools

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