Gentlemen,
During the course of Internal audit, I noticed that, Balances of one Bank has not been reflected in the final accounts right from 2008. I could get hold of balance sheet and other relevant details from from 2008 only.Before closure of 2012-2013, I detected going through the Pass book with the cashier.
Now, Can any one suggest me how to account for this> Do I have to take approval from the Management. In that case what will happen to the last years account as the opening balance will differ from the closing balance.This will also increase the receipt of the organisation.
The pass book reflects only receipts including interests, no other expenses since 2008.
CAclubindia
