Category: Auditing
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 …
Guidelines for Auditors
Audit of Sole Trading Concerns – Guidelines to Auditors Auditing the accounts of sole trading concerns is not mandatory and there is no legal compulsion. But now-a-days it has …
Guidelines for Auditors
Vouching of Goods Received on Sale or Return Basis or Consignment Basis – Guidelines to Auditor Sometimes, goods are received from the suppliers on sale or return basis. Such …
Auditing
Audit of Partnership Concerns – Guidelines Audit is not a compulsory one for a partnership firm. But as there are many advantages of getting the accounts; audited, now-a-days many …
Audit Procedure
Vouching Sales Ledger or Debtors Ledger – Procedure, Guidelines to Auditor After having checked the Bought Ledger, the auditor should proceed to check the Sales Ledger, which contains the …
Audit Procedure
Vouching of Bought Ledger or Creditors’ Ledger – Audit Procedure & Guidelines Bought Ledger consists of creditors’ accounts. An auditor should check the opening balance of different accounts in …
