Petty cash audit.....from an embezzlement point of view..


This query is : Resolved 

(Querist)
22 May 2012 Respected Experts,
Can anyone guide me on how to audit petty cash (and its expenses) from an cash embezzlement point of view.
2) Please tell me what are the documents i should view?
3) What are the supporting documents i should verify if an expenses is debited?
4) What are the ideal internal controls for that?
Its highly essential for me at this time. Please give me an elaborate explanation.
Thanks & Regards,
Rajesh.

24 May 2012 Dear Rajesh

firstly u may genrate Petty cash Ledger from software

Petty cash ledger ( in case of tally )

ZPCJ petty cash ledger ( in case of SAP )

then after u check all the cash payment vouchers regarding expenses .

u check the following in cash payment voucher
(1)Whom approved petty cash expense
(2)It is authorise expense or not
for authorization you cheek SOP ( standard operating process )
(3)check maximum permitted amount of expenses
then u check there paetty cash withdrawl
(1) what is the permitted limit of petty cash withdrawl
(2) In case of excess withdrawl
Check approval of excess withdrawl
finally the summary of your supportings
A. Petty cash ledger
B. cash payment voucher
C. Approval Mails / hard copy of approvals


Thanx & Regards
Vishwash Agarwal
( dear rajesh hope this ans para is helpful for your query )

Touch With Me
Mail - vishwashagarwal@ymail.com
Mobile No. 07666515328
Facebook - wwww.facebook.com/agarwal.vishwash
Twitter -
@vishwashagarg

24 May 2012 Dear Rajesh

firstly u may genrate Petty cash Ledger from software

Petty cash ledger ( in case of tally )

ZPCJ petty cash ledger ( in case of SAP )

then after u check all the cash payment vouchers regarding expenses .

u check the following in cash payment voucher
(1)Whom approved petty cash expense
(2)It is authorise expense or not
for authorization you cheek SOP ( standard operating process )
(3)check maximum permitted amount of expenses
then u check there paetty cash withdrawl
(1) what is the permitted limit of petty cash withdrawl
(2) In case of excess withdrawl
Check approval of excess withdrawl
finally the summary of your supportings
A. Petty cash ledger
B. cash payment voucher
C. Approval Mails / hard copy of approvals


Thanx & Regards
Vishwash Agarwal
( dear rajesh hope this ans para is helpful for your query )

Touch With Me
Mail - vishwashagarwal@ymail.com
Mobile No. 07666515328
Facebook - wwww.facebook.com/agarwal.vishwash
Twitter -
@vishwashagarg


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