debtors scrutiny

Stat Audit 1979 views 1 replies
how to do scrutiny of debtors while doing statutory audit
Replies (1)
1) Check the Sales and the amount receipt against the bills.
2) Check if any amount is outstanding and for how long.
3) If it's outstanding for more than 6 months, ask the firm as to why they have not received it yet.
4) Check if there are no double entries passed in the software.
5) Do physical verification of the invoices.
6) Confirm the closing balance.


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