Understanding Pre Audit & Post Audit
Pre - audit is an audit approach where payment vouchers (P.V) are reviewed by audit staff before final payment is made. The review takes the form of re-computing the figures on the P.V, checking supporting documents and also checking whether the necessary authorization or control procedures have been followed before payments are made.
This type of audit used to feature more in the work of internal auditors in the past. Currently, risk management is the order of the day. However, some Senior Management staff still believe that pre-audit should be conducted by internal audit staff instead of accounts supervisors.
Post Audit is an audit approach where supporting documents are reviewed weeks / months after the transactions have taken place. During post audit the emphasis of the review is on control weakness and how it can be improved to prevent future breach of controls