I m going for an audit of a Trading Company .
what r the steps which i should follow for a successful audit & audit evidences, working papers to be collected.
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Audit of a Trading Company
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1) Working Capital - Most Important
2) Stock Turnover
3) Bad Debts
4) Crs and Drs Analysis ( Credit Period )
5) Purchase Procedure (whether lowest price, quotation accepted)
6) Sales procedure - unform price for all parties.
7) Sales Tax and other tax matters.
8) Storage / Damage
9 physical Verification of Stock
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