Category: Auditing
Audit Procedure
Audit of Land and Building Assets like land, building, etc. can be divided into two categories such as Freehold Property, and Leasehold Property. We shall new discuss the verification …
Auditing
Enquiry relating to Professional Misconduct of Chartered Accountant The First and Second Schedules of the Chartered Accountants Act, list the circumstances / situations in which an Accountant shall be …
Audit Report
Types of Audit Report There are four types of Audit Report. They are— Clean Report Qualified Report Disclaimer Negative Report They are briefly explained as follows. 1. Clean Report …
Auditing
What is an Annual Audit or Periodical Audit? A final or completed audit is commonly understood to be an audit which is not commenced until after end of the …
Guidelines for Auditors
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 into …
Guidelines for Auditors
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 bills …
Guidelines for Auditors
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 duly …
Guidelines for Auditors
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 methods …
Guidelines for Auditors
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 to …
Guidelines for Auditors
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 approval …
