| ( 1 ) sale value and vat amount |
| ( 2 ) VAT return |
| ( 3 ) service tax return ( on labour chg. ) |
| ( 4 ) TDS Return |
| ( 5 ) Bank statement, creditors, debtors confirmation |
| ( 6 ) Insurance Payout ( incentive by insurance companies |
| ( 7 ) Finance Payout ( incentive by Financers ) |
| ( 8 ) Tds Receivable ( match 26as ) |
| ( 9 ) Salary and Pf |
| ( 10 ) DMS software incentive by company provided |
| ( 11 ) Consumer Offer ( in automobile sector consumer offer are given by , but |
| some contribution by dealer , check |
| ( 12 ) DEMO Car payout. |
| ( 13 ) Check some randomly free gifts / cards / free fuel coupan given to customer. |
| ( 14 ) Extended Warranty ( is warranty claim processed by manufacturer or not ) |
| ( 15 ) Check Dealer Reserve Fund status |
| ( 16 ) Extended Warranty commission and quartely incentive |
| ( 17 ) RTO Chg. ( received from customer / paid to RTO office ) |
| ( 18 ) TRC chg. ( Temporary Reg. chg. ) |
| ( 19 ) Interest on securities. |
| ( 20 ) Mostly Automobile Dealer have Inventory Funding, Trade Advances From |
| financers, check statement and confirm balance. |
| ( 21 ) Old Car ( stock ) and Exchange offers, |
| ( 22 ) Bodyshop ( accidental cases ) Insurance Claim status. |
| ( 23 ) New cars, Spare Parts stock, Oil , Tyre stock . |
| ( 24 ) Check TCS collection or payment ( cash received above 2 lakh . |
| ( Above 10 lakh tcs in mandtory on car sale ) |
| ( 26 ) Cenvat Credit taken properly or not. |
| ( 27 ) check exp./ income voucher, Bank stmt, Confirmation. |
| ( 28 ) Shareholding Patters, Director Loan, retirement / addition of new director. |
Please find attached the Internal Audit Program for Automobile Industry
| Originally posted by : Member (Account Deleted) | ||
 |
check opening balance check all sales purchase loan advances debtors creditors cash bank take prinout our of triyal balance check every group like capital account , resverve and surplus , secured and unsecured loan , sundry carditors , fix assets , investments , debtors , cash , bank |
 |
Pls, in a professional way
I would suggest you connect with Ambit Collective LLP who could help in this regard. Ambit Collective is a consulting firm that is considered a leader in providing consulting services to automotive retail in India. Started by ex-big 4 senior professionals with a 60 member strong workforce, they currently service clients in Delhi NCR and will soon scale their operations to other parts of India and overseas.
Searching for internal audit checklists online is couterproductive. You may end up overlooking key risks unique to the entity you are auditing, or follow audit steps that are not control-relevant or may miss the “why” behind procedures.
Every audit is unique. Instead of checklist, you need to build the skill to create your own internal audit checklists.
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
View Details
CAclubindia
