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Purchase order and grn

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Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2018 Sir,Why should 1 check purchase order,grn, & invoice correspondingly in an audit ?what is the relation between PO,GRN,INVOICE?what frauds can occur regarding these?
Also how is work order & work bill related?

CA Prateek Dua

CA Prateek Dua (Expert)

01 January 2018 when you talk about Po,what you have to check, whether there is a difference between actual purchases and the details in the PO(Purchase order issued by the Stock/Purchase department). now GRN , you have to review the purchase invoice by comparing it with GRN(Goods recieved Note to check about the actual goods recieved),so that you can make sure that there is no mismatch, In case you find any difference between three of them ,, you make note the point and discuss about the actual reason for the difference ,,Fraud is possible!

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