Our Revenue Forecasting Audit Work Program provides a comprehensive framework to assist in evaluating and improving the revenue forecasting process within an organization. It outlines a systematic approach for reviewing the development, methodology and execution of revenue forecasts. The program considers key questions about who owns the forecasting process, how it is updated, and what information is used to formulate forecasts.

It also guides auditors in assessing the level of risk associated with the forecast's accuracy and the adequacy of the forecasting process. Furthermore, it encourages identifying areas of control or efficiency concerns and any planned system changes impacting the forecasting process. This tool aids in ensuring that the forecasting process is robust, accurate and contributes effectively to the organization's financial planning and decision-making.

Consider the following questions during the revenue forecasting process:

• Who owns the forecast development and methodology process?
• How has the company built cross-functional discipline into its forecasting methodology?
• What roles do vertical markets and sales geographies play in the forecasting process?
• How does senior management’s future vision of long-range markets and product lines influence the forecast?