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Regarding statutory audit

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(Querist)
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.
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CA Abhishek Goyal

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CA Abhishek Goyal (Expert)
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.
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harshit gupta

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harshit gupta (Querist)
08 June 2019 Is ratio analysis of current and previous years also a part of statutory audit.
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