Post Go-Live ERP Audit Checklist

Your ERP went live 4 weeks ago. The system is running. Data is flowing.

But as CFO, how do you know the system is actually set up correctly to protect your financial controls and compliance?

This checklist is designed to help you answer that question—fast.

The CFO's Post Go-Live Audit Checklist

Section 1: Financial Process Controls

The Goal: Verify that financial workflows enforce approvals, prevent unauthorized transactions, and create complete audit trails.

☐ Purchase orders require appropriate approval based on amount (e.g., >₹10L needs CFO approval)
☐ Invoices can't be paid without matching PO + receipt
☐ Journal entries require approval by accounting manager or above
☐ Payments >₹25L require dual approval authority
☐ Expense reports require manager + finance approval
☐ Credit memo issuance requires AR manager approval
☐ Inventory adjustments >₹5L require authorization
☐ All financial transactions create audit trail (user, timestamp, change details)

Section 2: Segregation of Duties (SOD)

The Goal: Verify that no single user can create, approve, and complete a financial transaction (fraud prevention).

☐ Procurement: Create PO ≠ Approve PO ≠ Receive goods ≠ Approve payment
☐ Accounting: Create journal entry ≠ Approve journal entry
☐ AR: Create customer ≠ Create invoice ≠ Apply payment
☐ AP: Create vendor ≠ Create purchase order ≠ Approve payment
☐ Payroll: HR creates employee ≠ Payroll processes salary
☐ No user has "System Administrator" + ability to post financial transactions
☐ Conflict matrix built into role assignments (system prevents SOD violations)

Section 3: Financial Reporting Accuracy

The Goal: Verify that GL balance sheet accounts tie to subledger balances (AP, AR, inventory, fixed assets).

☐ AP subledger reconciles to AP GL account (within 1 day of month-end)
☐ AR subledger reconciles to AR GL account (within 1 day of month-end)
☐ Inventory balance (physical) reconciles to GL (within 2%)
☐ Fixed asset additions reconcile to GL (verified against capex approvals)
☐ Bank accounts reconcile to GL (monthly, complete within 10 days of month-end)
☐ Intercompany balances eliminated correctly
☐ Accruals recorded automatically (e.g., accrued expenses, deferred revenue)

Section 4: Data Security & Access

The Goal: Verify that sensitive financial data is restricted appropriately and user access is audit-logged.

☐ Users can only see GL accounts / AR / AP data relevant to their role
☐ Finance admins can't access sensitive payroll data
☐ All user login/logout events logged with timestamp
☐ User access removed within 1 day of termination
☐ Database password changed from default (not "admin/password")
☐ Passwords meet complexity requirements (min. 8 chars, mixed case, numbers, symbols)
☐ Multi-factor authentication enabled for sensitive transactions (GL, payment approval)
☐ No shared user accounts (each person has unique login)

Section 5: Compliance & Regulatory Controls

The Goal: Verify that the ERP configuration supports audit & tax compliance.

☐ GST captured for all AR transactions (separate output/input tax)
☐ GST reports can be generated automatically (no manual adjustments needed)
☐ TDS captured for AP transactions (and reported correctly)
☐ FDI/domestic classification used (if applicable)
☐ Budget vs. actual tracking enabled for departments/cost centers
☐ Period-end closing checklist configured (prevents inadvertent data changes)
☐ Audit trail enabled for all GL activities (can't be disabled by users)

Section 6: Master Data Integrity

The Goal: Verify that customer, vendor, and GL master data is accurate and complete.

☐ All vendors have tax ID (PAN/TAN) verified
☐ All customers have credit limit + credit terms defined
☐ GL chart of accounts matches accounting policy (balance sheet + P&L structure)
☐ Cost center hierarchy complete (all departments/locations mapped)
☐ Payment terms configured (no ambiguity on due dates)
☐ Bank account master up-to-date (correct routing for payments)
☐ No "dummy" records (e.g., TEST vendor, DUMMY customer)

Scoring Your ERP Post Go-Live Audit

28-30 checkboxes: Excellent. Your ERP controls are audit-ready.
24-27 checkboxes: Good, but address remaining gaps within 30 days.
20-23 checkboxes: Significant control gaps. Prioritize remediation.
<20 checkboxes: Major concerns. Brief your audit committee and remediate urgently.

How to Remediate Gaps

Identify the gap: Not in the checklist? Why not?
Assess risk: Could this gap lead to financial error, fraud, or audit finding?
Fix it: Configuration change? Process change? Training?
Test it: Verify the fix works as intended
Document it: Keep evidence for external auditors

Timeline: Critical gaps (authorization controls, SOD) within 2 weeks. Others within 60 days.

Need Help with Your ERP Post Go-Live Audit?

This checklist is a self-assessment. For a comprehensive, independent ERP audit, we conduct detailed control testing and provide remediation roadmaps.

Schedule Audit Consultation

The Bottom Line

The first 90 days post go-live are crucial. Your financial controls are being established now. Gaps found and fixed now are easy. Gaps that persist become audit findings later.

Use this checklist to verify your ERP is set up to protect your financial integrity from day one.