Ledger scrutiny

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Querist : Anonymous

Querist : Anonymous (Querist)

06 June 2013 What Exactly to be checked in Ledger Scrutiny of a Financial statement of an small as well big size organisation.

Kindly suggest.

Ganeshbabu K

Ganeshbabu K (Expert)
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06 June 2013 Generally we do ledger scrutiny to find any mistakes / wrong entries or to check any unnecessary entries found in the ledger

1)see applicability of TDS and reversecharges in ledger scrutiny of expense ledger and confirm whether the liability for reversecharge/tds were discharged according

2) check if ledger balance is showing differently

i.e, debtors ledger should show dr balance if it shows cr balance just ask for the same

once you have done ledger scrutiny of all ledgers in a company we can ascertain audit risk and whether all entries are done accordingly.

Please refer below articles for your reference

https://www.caclubindia.com/articles/ledger-scrutiny-backbone-of-statutory-audit-part-2--15001.asp

https://www.caclubindia.com/articles/-ledger-scrutiny-backbone-of-statutory-audit-14826.asp

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