Category: Auditing
Guidelines for Auditors
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 of …
Guidelines for Auditors
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 Companies …
Auditing
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 is …
Audit Procedure
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 business, …
Audit Report
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. Integrity …
Auditing
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 Accounts. …
Auditing
What is Material Information? If an information given in the financial statements and other statements annexed thereof, influences the decisions taken by the user, such information is said to …
Guidelines for Auditors
What is Cost Audit? Cost audit as the name suggests is an audit of cost records. Cost audit as a discipline and a statutory provision came into being in …
Guidelines for Auditors
Enquiry and Report by Auditor in Company Audit – Role of Auditor The followings items are to be enquired into by the auditor and report on such items only …
Guidelines for Auditors
Audit of Individuals There are individuals like estate managers, rent collectors, investors, etc. who derive large income and incur heavy expenses to earn such incomes. They appoint accountants to …
