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
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
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
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
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.
Vouching of Forward Purchases – Procedure, Guidelines to Auditor In certain businesses, forward contracts are made for future purchase of raw materials at a fixed price. Such deals
Inspection of Minute Books of Meetings Every company must record the minutes of all proceedings of general meetings, meetings of the Board of Directors, or of every committee