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Audit of depreciation charged

Statutory Audit 3211 views 1 replies
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CA Student
891 Points Posted on 25 August 2011

How and wht should i required to check/audit for deprecaition of F.A and F.A Schedule..

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On 25 August 2011 at 21:17 Report
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CS CA F Numerologist Astrologer Graph
85935 Points Posted on 25 August 2011
  1. Check the depreciation rates as provided in companies act 1956.
  2. check whther ther is any addition made during the year , if yes then check wther depreciation is correctly charged from the date of purchase till last date of a/c year.
  3. check wther ther is sale of any asset and if yes den check its treatment given  by the company.
  4. Scruitnize all th original documents supporting any additions made by the company in case of fixed assets and cross tally the amount debited to FA a/c with such documents.
  5. Also check application of AS-10 & AS-6 whther it has been correctly applied by the management.
  6. See wther all the assets added  and sold by the management are properly authorised by passing resolution for it.
  7. Also check the internal policy if any of the comapany.      This are some of the imp points that you need to keep in mind while doing audit of asset & dep.
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On 25 August 2011 at 21:26


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