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,
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
Guidelines for Verification of Book debts by Auditor While verifying book debts, an auditor should follow the following procedure. 1. The auditor should obtain the list of debtors
How to an auditor physically verify Stock- in- trade Goods are easily subject to misappropriation and manipulation. Very often firms use stock in trade as one of the
Factors that affect the Gross Profit of an Organization The following factors may increase the gross profit of an organization. 1. If the trading expenses are wrongly debited
Documents to be Verified in Vouching of Directors Remuneration An auditor should verify the following documents while vouching directors remuneration. 1. The agreements with managing directors. 2. The
What is a Balance Sheet Audit? Verification of all items included in the balance sheet combined with the examination of related income and expenses accounts is known as
What is Test Checking? Test checking in Audit means checking a few transactions selected at random from a large number of transactions. It is also known as “Selective