Audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 April 2013 audit in my company is going to be started in few days please someone tell what things should i should take utmost care of such as
1) i have taken the print of bank statement as on 31.3.13 and prepared the BRS as on 31.3.13
2)arranged all the files and vouchers.

please revert back as to what other arrangements to be made of documents which an auditor may ask for at the time of conducting his audit of my company's books.

please someone revert back as soon as possible.
It's urgent.

Dr. Rashid Mehmood, CPA, Ph.D

Dr. Rashid Mehmood, CPA, Ph.D (Expert)
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22 April 2013 Dear

Explain the nature of business then something can be suggested

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2013 trading company(purchase & sale of automobiles)

Please reply

Vivek Hebbar

Vivek Hebbar (Expert)
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23 April 2013 The requirements of auditors depends on the nature of the entity. It would be different for a company, partnership firm, propritory business, trust, etc. Further, the requirements would be different for tax audit and other audit. Assuming that your company is a private limited company, you need to have statutory records as per companies act updated and ready. You need to have debtors and creditors balance confirmations for at least large parties. You need to have cash balance certificate. There is a whole lot of documentation requirements. You can get it online also

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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30 June 2013 I agree with the experts but you should take bank reconciliation which is the base of audit.

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