audit program

This query is : Resolved

DEVAKI (Querist)
Follow

10 March 2008 hi, can anybody please tell me diffrence between internal audit & statutory audit in practical life.
How to prepare audit program considering all the factors like ledger scrutiny, IT, SERVICE TAX, FBT etc. aspects.
what should be ideal petty cash system company should adopt for e.g. IOU vouchers etc.
what are the aspect to considered while checking service tax & TDS?
How do ledger scrutiny of debtors in tally?

Amit

Amit (Expert)
Follow

11 March 2008 Dear Devaki,

Broadly Internal audit is detailed one to ensure there are proper systems and procedures for safeguarding of asssets, prvent fraud and errors in financial systems while statutory audit is prmarily to certify true and fairness of finacial statements as per Indian GAAP and Accounting standards.

Questions you have asked for requires detailed reply, which is time consuming. If you wanna prepare it please cont on 9810056882

Rakesh

Rakesh (Expert)
Follow

15 March 2008 Internal audit is detailed one to ensure there are proper systems and procedures for safeguarding of asssets, prvent fraud and errors in financial systems on daily or periodical basis while statutory audit is prmarily to certify true and fairness of finacial statements as per Act and regulation.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now