Category: Auditing
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 …
Guidelines for Auditors
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 are …
Audit Procedure
Vouching of Wages – Audit Procedure and Guidelines to Auditors The vouching of payment of wages is an important duty of an auditor. There are many chances of misappropriation …
Auditing
Concepts of Government Audit Government audit is applicable to Government departments and departmental undertakings. Government of India maintains a separate department known as Accounts and Audit Department. Comptroller and …
Guidelines for Auditors
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 of …
