What is a PBC list in audit?
A PBC list, short for prepared by client, is the list of schedules, reconciliations, reports and documents an auditor asks the client's finance team to provide for an audit or review. Each item has an owner, a due date and a status, and the list is the main tool for managing information exchange during the engagement.
Also calledprepared by client listaudit request listPBC request listclient assistance list
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- Stands for
- Prepared by client
- Each item has
- Owner, due date, status
- Common cause of
- Audit delays
How a PBC list works
Before fieldwork, the auditor sends a list built from the audit plan: trial balance and ledgers, bank and balance sheet reconciliations, fixed asset and lease schedules, revenue and payroll reports, contracts, board minutes and samples of invoices once selections are made. The finance team assigns each item, uploads it and marks it complete; the auditor reviews and raises follow-up questions. Late or incomplete items are the most common cause of audit delays and extra fees. Using email and spreadsheets for this makes it hard to see what is outstanding, so audit platforms provide portals where requests, uploads and comments sit together against each item. Finance teams that prepare PBC items as part of their monthly close have much shorter audits. Fieldguide, Inflo and Caseware run request lists and client uploads inside their audit software.
Common questions
What is typically on a PBC list?+
The trial balance and ledgers, reconciliations, schedules for fixed assets, leases, debt and accruals, revenue and payroll reports, contracts, minutes, and documents for sample items.
How can finance teams prepare for a PBC list?+
By keeping reconciliations and schedules up to date in the monthly close, reusing last year's list, and agreeing owners and dates with the auditor before fieldwork starts.
Why use software for PBC requests?+
It keeps requests, files and comments together for each item, shows what is outstanding and reduces the email back-and-forth that slows audits.
Audit software with PBC request lists
Part of Accountio’s accounting technology coverage · Glossary
