Scrutiny of Leger
This query is : Resolved
24 April 2008
Sir,
How i will conduct the Scrutiny of Ledger during the Audit of F.Y -2007-08.
Please guide me sir
Sir,
How i will conduct the Scrutiny of Ledger during the Audit of F.Y -2007-08.
Please guide me sir
27 April 2008
Hi,
First go through the TB. Go to individual ledgers if possible and try to ananlyse the entries if it has been passed in the correct account ledgers.Further if the amount is inconsistent get a clarification to ascertain its correctness.
Basically enter into P & l A/c
1.Start analysing the correctness of each account may not be each entry once you get the feel of accounts
2.Check the applicability of TDS for expenses and ascertain if the same has been adhered to
3.Applicability of VAT, service tax and input whether it has been availed and claimed.
4.Whether any expense has been overstated or understated.
5.Whether the expenses have been accounted under the correct head of accounts.
These are the synopsys based on which the logic can be built on and Ledger scrutiny can be carried out
First go through the TB. Go to individual ledgers if possible and try to ananlyse the entries if it has been passed in the correct account ledgers.Further if the amount is inconsistent get a clarification to ascertain its correctness.
Basically enter into P & l A/c
1.Start analysing the correctness of each account may not be each entry once you get the feel of accounts
2.Check the applicability of TDS for expenses and ascertain if the same has been adhered to
3.Applicability of VAT, service tax and input whether it has been availed and claimed.
4.Whether any expense has been overstated or understated.
5.Whether the expenses have been accounted under the correct head of accounts.
These are the synopsys based on which the logic can be built on and Ledger scrutiny can be carried out
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Grand in aid
- ASMT-10 received from A O
- IT returns for fresh job holders
- ITR-Capital Gain
- Traces submitting correction statement error
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- CASH GIFT FROM BLOOD RELATIVE
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- Rent claimed on building given on permissive possession basis
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
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
