Regarding statutory audit
This query is : Resolved
06 June 2019
Dear Personnel,
I want to inquire about the checklist one should examine while doing a statutory audit. Can someone please highlight the broad areas in respect of which one should be performed their activities.
Thanks in advance.
I want to inquire about the checklist one should examine while doing a statutory audit. Can someone please highlight the broad areas in respect of which one should be performed their activities.
Thanks in advance.
07 June 2019
Hi,
Following are the major areas to check:
1. Opening Balance check
2. Sales Figures with GST returns
3. ITC with Electronic Credit Ledger
4. ITC with Purchase figures
5. Journals with Bills
6. Ledger verification
7. Balance Sheet Items step by step
8. Comparison of figure with last year
9. TDS Reconciliations with TDS Reports i.e 26Q and 24Q
10. 26AS Reconciliation with Income side
I will add more points asap.
Thanks.
Following are the major areas to check:
1. Opening Balance check
2. Sales Figures with GST returns
3. ITC with Electronic Credit Ledger
4. ITC with Purchase figures
5. Journals with Bills
6. Ledger verification
7. Balance Sheet Items step by step
8. Comparison of figure with last year
9. TDS Reconciliations with TDS Reports i.e 26Q and 24Q
10. 26AS Reconciliation with Income side
I will add more points asap.
Thanks.
08 June 2019
Is ratio analysis of current and previous years also a part of statutory audit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
