Nursing Home Financial Audit Checklist

This checklist is designed to guide the audit team through the financial review process of a nursing home, ensuring compliance with financial policies, accuracy of financial records, and efficient use of resources.

Category	Checklist Item	Completed (Y/N)
General Financial Oversight
	Review of the annual budget and comparison with actual expenses	Yes No
	Audit of cash handling procedures	Yes No
	Verification of financial reports' accuracy	Yes No
	Examination of bank reconciliations	Yes No
Asset Management
	Verification of fixed assets inventory	Yes No
	Check for proper recording of new assets and disposals	Yes No
	Inspection of lease agreements and contracts	Yes No
Liabilities and Payables
	Review of accounts payable process	Yes No
	Examination of accrued expenses	Yes No
	Verification of debt obligations and terms	Yes No
Revenues and Receivables
	Audit of billing procedures for accuracy	Yes No
	Review of accounts receivable and aging	Yes No
	Verification of revenue recognition practices	Yes No
Payroll and Benefits
	Review of payroll processes for compliance and accuracy	Yes No
	Examination of employee benefits allocation and funding	Yes No
	Verification of tax withholdings and submissions	Yes No
Compliance and Regulations
	Check for adherence to financial regulatory requirements	Yes No
	Review of compliance with tax laws	Yes No
	Examination of internal controls and fraud prevention measures	Yes No

Nursing Home Financial Audit Checklist

Nursing Home Financial Audit Checklist

Instructions for Auditors: