Audit of gratuity fund


Rakshita (Practicing CA)     07 March 2019

Rakshita
Practicing CA 
 21 points

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Hello all,

I have got a work of auditing the Gratuity fund of a company. The company invests its gratuity fund in another investment company and does not have its own trust.  My question is whether such an audit can be done or not? if yes, how can i proceed with it?

avater

Abhishek Kumar (Audit Professional)     07 March 2019

Abhishek Kumar
Audit Professional 
 52 likes  638 points

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if you have allotted for audit of gratuity fund of a company then you can proceed for it .. only keep in mind regarding proper documentation of such audit which is related to such fund and also receive audit engagement letter from the company . if you get any adverse response then you can not accept it.

debora M (BUSINESS DEVELOPMENT MANAGER)     13 August 2019

debora M
BUSINESS DEVELOPMENT MANAGER 
 12 likes  318 points

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Gratuity fund is a lump sum payment made by a company to the employee in time of his/her retirement. We perform audit on this fund where there is funded gratuity fund with a separate trustee board and a separate accounts is prepared to confirm if the client is adhering to its agreements.


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