Vouching of Collection from Debtors The auditor should examine the following while auditing Collection from debtors. 1. Copies of sales invoice. 2. Statement of accounts received from debtors.
Vouching of Income from Investments Some companies would have invested large amounts in shares, securities, deposits and scrips. They may maintain separate investment registers recording the details of
What is a Resource Audit? Audit conducted to understand the strengths or weaknesses of the resource base of a firm is called a resource Audit. In other words,
Disadvantages of Continuous Audit In spite of many advantages of continuous audit, it has certain drawbacks, which are discussed as under. 1. Alteration of Figures In case of
Audit of Land and Building Assets like land, building, etc. can be divided into two categories such as Freehold Property, and Leasehold Property. We shall new discuss the
Enquiry relating to Professional Misconduct of Chartered Accountant The First and Second Schedules of the Chartered Accountants Act, list the circumstances / situations in which an Accountant shall
Types of Audit Report There are four types of Audit Report. They are— Clean Report Qualified Report Disclaimer Negative Report They are briefly explained as follows. 1. Clean
What is an Annual Audit or Periodical Audit? A final or completed audit is commonly understood to be an audit which is not commenced until after end of
Guidelines for Auditor and procedure for verification of Loans Loans maybe divided into two kinds. They are Secured Loans, and Unsecured Loans. Secured loans can again be divided
Guidelines for Verification of Bills Receivable by Auditor An auditor should adopt the following procedure while verifying bills receivable. 1. The auditor should verify Bills Receivable Book with