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Statutary audit

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 October 2013 please describe all the points which an auditor is required to check while conducting company audit?
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CA Parul Saxena

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CA Parul Saxena (Expert)
15 October 2013 1.Aware about the company's business.
2.On the basis of business determine what are the taxes applicable to it like service tax,excise duty,tds.
3.Take a print out of Balance Sheet and Profit and Loss from the software.
4.Scrutinize the balances in balance sheet with the documentary evidence like
.Check Bank balances with the statements and Bank Reconcilations.
.Check statutory liability and its payment with the challans.
.verify sale,purchase/service tax turnover balances with the returns.
.Ledger scrutiny should be done.
.Verify the accounting transactions and way of doing the accounting.
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Querist : Anonymous

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Querist : Anonymous (Querist)
15 October 2013 plz describe more about ledger scrutiny.
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