Manual entry

This query is : Resolved

Prakash kumar (Querist)
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23 August 2015 dear sir , we are giving our pvt. ltd. co. A/c for audit(2014-15) but due to no cash exps maintained for April to December by old accountant ,new accountant manually take entry of cash exps (in accumulate basis) and give books of a/c for audit . will there be any issues if they do so ?

Amol S Joglekar

Amol S Joglekar (Expert)
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23 August 2015 "Materiality" is a major concern of AUDIT.

How much is the magnitude of such expenses? The auditor used his/her judgement and accordingly proceed. There is no any MATHEMATICAL answer to this. It is matter of judgement of the AUDDITOR

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