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Carrying an internal audit for a company..urgent sir!!!

Internal Audit 1110 views 2 replies

 

Respected Experts,
Can anyone please tell me whether any book is available in the market which practically explains about how to conduct an internal audit for a company?
2)Also what are the supporting documents that has to be verified for all the type of expenses, revenues, assets and liabilities?
3)How to link each departments work to other departments so that whatever appears in the accounts book is genuine.
Thanks & Regards,
Rajesh.
Replies (2)

Dear Mr Rajesh,however there is,as such,no book available in the market for internal audit per se as internal audit differs from company to company as per engagement terms. However you can refer to books issued by ICAI for understanding of general points of the industry. Browse through the ICAI's website for the same.

Although,this is right that internal audit procedure differs from company to company,yet some common procedures are there:

Vouching

Cash vouching with cash book

Bank vouching with bank book

Journal with Journal book

Cash verification at a certain date

Bank reconciliatin checking

Statuory compliances checking

-- whether tds have properly deducted or not

--whether tds have been properly deposited or not

--likewise,all the statuory compliances should be checked

Ledger scrutiny

 


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