An audit expense report template documents the official evaluation of an organization’s financial matters. Audit expense reports are the fundamental tools to control expenses at an organization or a company. Keeping a check and balance of how the financial matters are being dealt and the detailed report of all the expenditures made during a fixed period of time is asked for by the managers or executives of the company. It is the duty of the financial department to prepare such reports and one such report is called an audit expense report. Audit expense reports are also made to estimate the future expense in advance and plan out the future strategies accordingly. Sometimes, banks, stockholders or other subsidiary companies ask for audit expense reports from the parent company to check for the well maintained and fair deal of transactions.
An audit expense report format varies according to the type of business or the company generating one. In general, an audit expense report contains a list of items or categories that consume company’s expenses and demand an investment. Since a business plan strategy, already contains a set of planned budget on each item or the category, that specific pre-planned budget is stated in the audit expense report. Another column on the audit expense report incorporates the actual expenses or the amount spent for each category of items. Finally the audited amount is given in the report and an additional column for comments is added to further explain any expenses.