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
Principles Governing an Audit Auditing and Assurance standards give the basic principles an auditor has to follow while conducting an audit of financial statements of any organization. 1.
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.
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
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
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
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
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