whille conducting statutory audit, if we come across regular overtime by workers do we need to report that?
is there any legal provision for this?
CA Anushree jain (CA) (1531 Points)
02 February 2014whille conducting statutory audit, if we come across regular overtime by workers do we need to report that?
is there any legal provision for this?
Milind M. Kulkarni
(Practicing CA)
(580 Points)
Replied 08 February 2014
I understand that your question is about genuineness of overtime as worked by employees and its requirement. I think it is more to do with internal audit than statutory audit. In statutory audit, you need to focus more on authorisation for overtime by management, whether company policy regarding OT is complied with, whether there is supporting to prove that employees have worked overtime and whether all applicable laws have been complied with or not.
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