Audit of show room

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neha (Querist)
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26 November 2014 Can anyone suggest me what are the items to be checked while auditing a private company which is engaged in sale of electronic items & having showrooms. The nature of Audit is Internal Audit.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 November 2014 check all the taxes applicable are charged and paid properly and within due dates,all returns filed properly, internal control system, applicable as are followed or not,check the minutes and aoa,check meetings during year etc.

neha

neha (Querist)
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26 November 2014 irrespective of the above.,what items should be checked like sales are classified into cash & credit.,in such case how can we identify frauds or errors committed

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 November 2014 check the bank statements, reconcilations and check the sales invoices recived via cheque and for cash sales check the cash register and check major transactions and u need to go indepth in this areas and also check balance confirmation on last date of fy 13-14.

additionally randomly take a debtor who has large sales with co and check all documents and reconcile with amount recieved.

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