Auditing is a crucial part of financial reporting, providing assurance that financial statements are free from material misstatement. After conducting an audit, an auditor prepares a report that
What is establishment expenses? Establishment expenses refer to the costs incurred in setting up a new business or organization, such as legal fees, office equipment, furniture, and marketing
An Auditor should he prepare himself and proceed with audit is an important question to be examined by an auditor. How much time he should devote in auditing
Audit Planning Planning brings promptness and perfection in performance. Planning in audit operations is considered as an essential prerequisite. It enables an auditor to cover different aspects of
Vouching of Cash Receipts The debit side of cash book shows opening balance, cash sales, receipts from debtors, income from interest, dividend, rental income, commission received, subscriptions, sale
Audit of Clubs – Guidelines to Auditors 1. General Consideration in Club Audit a. Constitution A club is constituted as a company limited by guarantee. So provisions of
The term depreciation is derived from the Latin word depretium. Split into “de” and “pretium” de means decline and pretium means price. So, the literal meaning of depreciation
Audit of Ledgers An auditor should carry out Audit of Ledgers after the books of original entries have been vouched and postings there from are fully checked. In
Principles Governing an Audit Auditing and Assurance standards give the basic principles an auditor has to follow while conducting an audit of financial statements of any organization. 1.
While scrutinizing, all expense accounts should be thoroughly verified. This article explains the role of Auditor in scrutinizing Direct Expenses, Indirect Expenses, Income Accounts, Assets Accounts and Liability
