i want to know the reason behind selecting our audit tick i.e. reverse tick for auditing documents? it can be any other symbol also. but i want to know the particular reason for selecting the tick.
ravi chauhan (Internal auditor) (59 Points)
23 February 2016i want to know the reason behind selecting our audit tick i.e. reverse tick for auditing documents? it can be any other symbol also. but i want to know the particular reason for selecting the tick.
venkat
(CA )
(1518 Points)
Replied 23 February 2016
Because if u don't use that tick you will be put to death under Sec .5 x of audit act 2016
ravi chauhan
(Internal auditor)
(59 Points)
Replied 24 February 2016
but what is the reson for selection the perticular tick? it can be any other tick.
sagar
(1)
(43 Points)
Replied 24 February 2016
is there a seperate act for the audit tick????its soo funny answer given above
venkat
(CA )
(1518 Points)
Replied 24 February 2016
sagar
(1)
(43 Points)
Replied 24 February 2016
can u provide any document on that audit act??
it will be usefull to all
Joey Tribbiani
(fdg)
(2010 Points)
Replied 24 February 2016
If you observe closely the tick is placed just before a number in an inverted manner. Earlier when manual accounting was in vogue,it was done to ensure that no one is able to put another digit before the audited figure as end of the digits were guarded by "/-".
Now it has stuck and is sort of traditional to put the tick like that.
ravi chauhan
(Internal auditor)
(59 Points)
Replied 24 February 2016
@ joey tribbiani yes it can be a reason
ravi chauhan
(Internal auditor)
(59 Points)
Replied 24 February 2016
hahaha yes there is nothing like that
pranit
(na)
(66 Points)
Replied 24 February 2016
Sathish M
(Management Accountant)
(40581 Points)
Replied 25 February 2016
The upside down tick mark, typically used by Chartered Accountants, has been included to symbolise the wisdom and value of the professional.
cboc
(job)
(44 Points)
Replied 25 February 2016
if you put normal tick mark then it can be treated as correct. but while auditing you are in the process of verification hence this may be choosen as alternative which specifies already verified this figure.
Arun choudhary
(articalship)
(153 Points)
Replied 25 February 2016
There is no such specific symbole for marking.. Each firm has its own unique set of tick marks, however, most
are common.
They may be in the
form
of geometric designs ,alphabetic letters ,numbers etc...
POSTING
The process of transferring entries from journal of original entry to a ledger book
precautions...
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
