i want to know the reason behind selecting our audit tick i.e. reverse tick for auditing documents? it can be any other symbol also. but i want to know the particular reason for selecting the tick.
i want to know the reason behind selecting our audit tick i.e. reverse tick for auditing documents? it can be any other symbol also. but i want to know the particular reason for selecting the tick.
Because if u don't use that tick you will be put to death under Sec .5 x of audit act 2016
but what is the reson for selection the perticular tick? it can be any other tick.
is there a seperate act for the audit tick????its soo funny answer given above
can u provide any document on that audit act??
it will be usefull to all
If you observe closely the tick is placed just before a number in an inverted manner. Earlier when manual accounting was in vogue,it was done to ensure that no one is able to put another digit before the audited figure as end of the digits were guarded by "/-".
Now it has stuck and is sort of traditional to put the tick like that.
@ joey tribbiani yes it can be a reason
THERE IS NOTHING CALLED AUDIT ACT
hahaha yes there is nothing like that
The upside down tick mark, typically used by Chartered Accountants, has been included to symbolise the wisdom and value of the professional.
if you put normal tick mark then it can be treated as correct. but while auditing you are in the process of verification hence this may be choosen as alternative which specifies already verified this figure.
There is no such specific symbole for marking.. Each firm has its own unique set of tick marks, however, most
are common.
They may be in the
form
of geometric designs ,alphabetic letters ,numbers etc...
POSTING
The process of transferring entries from journal of original entry to a ledger book
precautions...
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