Whether audit can be carried out on line.

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CA Sanjay Baheti (Querist)
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07 August 2010 Due to rapidly changing in Information & Technology sector,whether any audit like Company Audit,Tax audit,cocurrent bank audit etc,can be conducted/carried out through online inspite of manually like Routine vouching by marking green ticks for each books of accounts ,Ledeger Scrutiny etc. with a view to take lesser time to finalise the reports.

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CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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07 August 2010 There are so many banks which are paperless like IDBI.

There are so many business organisations which are paperless.

In these cases auditing is conducted with the help of IT. That is why the Institute has notified DISA qualification for members.

System controls can be had with the help of softwares. So many manufacturing activities are also controlled with the help of softwares like SAP etc.

Hence; right now it is possible to conduct audit online but one should be satisified with the MIS of the Client that proper controls are there.

Moreover; with the help of IT only; the audit is completed in the first or second week of April every year where transactions involved are of certain thousands of crores rupees.

One example is Infosys.

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