Audit evidence
This query is : Resolved
22 December 2014
most of the audit evidence obtained at the small client place is not upto my satisfaction i am unable to satisfy myself about the validity of the vouchers generated.How can i overcome this issue
22 December 2014
pls mention 1 single detail experience int this regard.
Amol S Joglekar
(Expert)
22 December 2014
You try to learn the concept of Confidence Level. That might reduce your anxiety of having EVERYTHING 100%, full proof.
22 December 2014
Some of the vouchers are handwritten and are not authenticated with the stamp of the seller in case of purchases and they and sometimes they are not supported by MRR
Amol S Joglekar
(Expert)
22 December 2014
What is the turnover you are having? Try to find out the ratio of SUCH "half way" through kind of vouchers...Valuewise as wel as Volumewise. And accordingly take the decision.
Aiming for 100% accuracy is more or less MYTH
Aiming for 100% accuracy is more or less MYTH
Amol S Joglekar
(Expert)
23 December 2014
01. If you consider 150 crore turnover client as "SMALL client" .... Hats off to you in the first place.
02. Report all such doubt raising transactions without any concern of VOLUME and VALUE. Ok?
02. Report all such doubt raising transactions without any concern of VOLUME and VALUE. Ok?
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