List each covenant as written, test it, and record waivers and the effect on classification.
Scope / period: ___ | Prepared by: ___ | Reviewed by: ___ | Date: ___
List each covenant from the loan documents exactly as written, with the test date and the result. Take definitions and thresholds from the signed documents and any amendments, not from memory. Do not infer a breach or a waiver; record the evidence and take the question to the engagement partner and, where needed, to legal advice.
This template follows the format published by the Institute of Chartered Accountants of India (ICAI) in the AASB Audit Working Paper Templates (June 2023), the authoritative reference for Indian statutory-audit documentation. Fill in your firm’s letterhead and the engagement details on the form above, click Download Word file, and you’ll get a fully formatted .docx ready to use.
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