contract audit
This query is : Resolved
10 March 2010
sir,
There is a company who has many contracts at different sites.
They prepare a statement for the expenses incurred there by site supervisor.
how to verify the authenticity of the expenses, and other valulable things should i check.
Also tell me appriciable points while auditing.
And how to find out any bogus expenses.
There is a company who has many contracts at different sites.
They prepare a statement for the expenses incurred there by site supervisor.
how to verify the authenticity of the expenses, and other valulable things should i check.
Also tell me appriciable points while auditing.
And how to find out any bogus expenses.
CA. Ashish Bihani
(Expert)
06 April 2010
Firstly, get a complete chart of Corporate hierarchy which will let you understand duties, responsibilities, accountability and reporting structure. Further, you can get information about the authorised signatories for sanctioning various types along with limits of payments.
Also get details about which types of expenses are allowed to be incurred by the supervisor.
You may ask the accountant or supervisor to get all the supporting documents and vouchers for the expenses incurred.
Also get details about which types of expenses are allowed to be incurred by the supervisor.
You may ask the accountant or supervisor to get all the supporting documents and vouchers for the expenses incurred.
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