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auditing

14 March 2019

i m doing audit of local,inter, import,export purchase and sale can any one tell me which thing should I take and how to detail audit regarding this

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Kanika khetan (Sr. Associate) (331 Points)
Replied 16 March 2019

For verifying sales and purchase we can go for verification of bills available and accounts of creditors and debtors available. This will help you to check if there is any unrecorded sale or purchse. You can also verify from bank account statements that payment made or received is authenticated.

In case of purchases ensure that person making payment is duly authorised for such transaction. All the transactions made should be by authorised personel.