please help

Dear Sir/ Madam,

please give me a notes for checking accounts in before audit for turn over 3cr...
Replies (4)

go anywhere rules for accounts same 

important is how much concepts of accounts and 

incometax clear with u that is infortant 

some of good arcticles on internal audit here

just read it understand it and then apply it 

 

 

 

Thank you for the reply Sir...

Please explain one more sir

It depends upon the nature of industry. Suppose if it;s a manufacturing unit you have to start from procurementof materials which includes Purchase activity to Product Completion stage viz., including Costing. It the Organisation has more & more Departments viz., Vendor development, Marketing, HR, Finance etc., each area has to be focused with the internation transactions ofeach depts.

Hi vishresh,

Check list for before audit :

1. check the sales and purchase entry updated from april to march 31st..

2. Bank Reconciliation all banks.

3. cash book updation.

4.  then you got Receivable & Payable with aging. , get confirmation from vendore for high value.

5. Prepare the provision entry for march .

6. Close all statutory , month on month. & reconcilie with book vs return

7 . prepare FA register.

8. if your in manufacturing industry , prepare  closing stock &  semi finished goods also.

 i think almost you covered for audit ..

 

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