Query

Majority of you work will cover AS -7.

CHECK ALL CONTRACT MADE BETWEEN THE PARTIES & PAYMENTS MADE BETWEN THEM.

Check about the provsion made for WORKS CONTRACT amount & other related clauses in contract.

Check whther all appraoval which are requried to be taken from local  and  govt  authorities are actually taken on paper.

Take all the photocopies of all imp documents which u come across.

Check all the expenses made  & reciepts especially  in cash.

If any loan is taken check the governing documents & see wther there is any violation done or not.

This are few imp points that need to be checked in depth ther are other points also. Wait for other members to comment on it.

good explanation by tushar     

Tushar has given you breif explanation, additionally you should have to consider taxation part also.. like service tax applicability, payment and return filled on due date.

and you should take care about revenue recognization method.

Originally posted by : CA Vinit Shah
	Tushar has given you breif explanation, additionally you should have to consider taxation part also.. like service tax applicability, payment and return filled on due date. and you should take care about revenue recognization method.

THANKS  SIR FOR UR  VALUABLE COMMENTS.

already explained... bt I also suggest before going to audit must Read AS - 7.