Audit preparation

  • Client full names

  • Lender

  • Type of loan

  • Purpose

  • Loan amount

  • Date of Assessment

  • Date of approval

  • Date of settlement

  • Credit Advisor full name

1. ABS data entry

  • 1.1 data entry was complete and accurate

  • 1.2. Clients data shared with real estate partner

  • 1.3 client data shared with Financial Planner

  • 1.4 Client information was shared with Legal representative

  • Have adequate notes been entered at every stage of the loan and also details of discussions have been kept?

  • Observations: please enter your findings in regard to the data entry, accuracy and quality of file notes

  • Grade this section on a scale of 1 being extremely poor and 10 being extremely good

2. Interview

  • 2.1. VFG process was explained to client

  • 2.2. YNAB budget was created

  • Budget result

  • 2.3. Was mortgage minimization completed

  • 2.4. Estimate of loan cost and repayments was given to the client

  • 2.5. Lenders product information was given to the client

3. Compliance Documentation

Privacy

  • 3.1. Privacy disclosure provided to the client

4 Assessment and fact finder

  • 4.1 Assessment and Fact Finder was completed

  • Client information

  • Employment verification App 1

  • Employment verification App 2

  • Employment notes App 1

  • Employment notes App 2

  • 4.2 Finance summary completed

  • Finance summary notes

  • 4.3 Is the deal a refinance

  • How was the refinance information completed

  • Was refinance data entry accurate?

  • 4.4 Was the notes and justification adequate?

  • Overall rating of the information provided in the Finance Summary

  • Notes and concerns regarding the Finance Summary

  • Rate the level of data completion and justification of refinance or choice of product

  • 4.5 loan criteria completed

  • Notes and concerns regarding the Loan Criteria

  • Rate the justification for lender chosen.

  • 4.6 Asset and Liability section complete

  • 4.7 Data is accurate when cross checked with actual asset and liability proof?

  • Summary and additional remarks completed

  • Assessment of notes entered

  • Notes and concerns regarding the Summary findings

5. IDR information

  • 5.1 was the IDR procedure given to the client/s

6. Lenders list

  • 6.1 Was the lenders list provided to the client/s

7. Credit guide

  • 7.1 Was the credit guide complete accurately? (check if the correct tick box was selected concerning fees)

  • Notes

8. Credit proposal

  • 8.1 Was the credit proposal complete correctly? (check if the correct tick box was selected concerning fees)

  • 8.2 Was the lenders commissions calculated and entered

  • Notes

9. Quote

  • 9.1 If a fee applies to this loan, was the Quote given to the client/s

  • 9.2 Was the fee accurately recorded on the Quote?

  • Note

10. Compliance checklist

  • 10.1 Was the checklist completed?

  • 10.2 Was there a change in the deal, and if so were the correct documents reprinted and given to the client/s

  • Note

Sign Off

  • Auditor's signature

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