Qualities and Qualifications of an Auditor An efficient auditor must possess certain general qualities besides statutory qualification, so that he can carry out his work efficiently and smoothly.
Statutory Rights of an Auditor The Companies Act confers extensive powers on the auditor. Since, he is the agent of the shareholders, he is having all the Rights,
Guidelines for Auditors in examination of vouchers While vouching the transactions, the auditor should first of all examine the various vouchers keeping the following points in mind: 1.
Internal Audit is a control that is concerned with the examination and appraisal of other controls. The ultimate purpose of internal audit is protection of the properties or
Re-issue of the Forfeited Shares When shares are forfeited, such shares become the property of the company and the directors can deal with them in any way they
Forfeiture of Shares | Auditor’s Duty The auditor’s duty regarding forfeiture of shares is as follows. 1. Examination of Articles of the Company: The auditor should examine the
Purpose of Audit Working Papers The following are the purposes of Audit working papers: 1. Working papers represent the volume of work performed by the auditor and his
What are Audit Working Papers? Audit working papers include those papers and documents, which consist of details about accounts, which are under audit. They are the written, private
What is an Audit Note Book? During the course of audit the audit clerk experiences several difficulties. He cannot remember everything at all time. So he maintains a
Audit of Share Capital How is authorized capital of a company verified? Balance sheet of the previous year and the Memorandum of Association gives a detailed picture about