First time audit

This query is : Open

Tushar (Querist)

15 November 2014 I join my articleship before some days and my principal send me for audit in a pvt. company and now he say to me to do audit self So please can anyone tell me how to start audit and what to do and how to do Right now i am totally confused... Please help me

Ganeshbabu K

Ganeshbabu K (Expert)

15 November 2014 What is the audit --Statutory audit or tax audit,internal audit,pre-audit
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Depending on ur firm assignment with client audit programme needs to be formulated
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So u better contact your Seniors in office and get guidence

Ganeshbabu K

Ganeshbabu K (Expert)

15 November 2014 You are requested to visit below links which may help u
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https://www.caclubindia.com/experts/ledger-scrutiny-1331459.asp#.VGeA8_mSzSE

https://www.caclubindia.com/experts/audit-of-import-purchases-1331719.asp#.VGeA9_mSzSE

https://www.caclubindia.com/experts/statutory-audit-procedure-1361149.asp#.VGeA-_mSzSE

Ganeshbabu K

Ganeshbabu K (Expert)

15 November 2014 Refer below link also
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https://www.caclubindia.com/experts/what-are-the-points-which-should-keep-in-mind-when-finalizing-balance-sheet-1446544.asp#.VGeB_PmSzSE

General work to be done

1)Understanding client business and his rawmaterial, and etc.

2)Taxes and rules applicable to company

3)taxes reconciliation from returns Vs Books

4)Vouching of transactions

5)Can formulate audit programme as per this

Tushar

Tushar (Querist)

14 January 2015 ok i understood thanks sir

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