Don't know bout everybody else but, where I work, the Pre-landings checks should be done either prior to 20nm from the intended aerodrome of landing or when passing 5,000ft. Both of these ensure the checks ar complete before things start getting too busy.
Finals/Landing checks are carried out after the second notch of flap has been selected (which is after the gear).
For a Non-Precision Approach, all checks MUST be completed and the aircraft MUST be stabilised on the approach by the FAP. If not - See ya later.
For a Precision Approach, it is common for us to be cleared to an altitude below the initial glidepath, from there we fly level (sometimes selected the first notch of flap, intercept the LLZ and Glidepath, then select gear and second notch of flap at the same time as tipping over to follow the glidepath.
Should an engine faliure be experienced in any of the above situations there are recommended procedures for what should be done, but ultimately it is up to the PIC to take whatever actions they deem necessary to avoid danger.
Hope all that makes sense.
S2K4 eva