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
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 Efficiency Audit? Efficiency audit is much broader in its scope. The scholars express two distinct views on this subject. According to one school of thought, the
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
Using Special Ticks in Auditing While auditing the books of accounts of a business, often auditor uses a variety of distinctive ticks or symbols to indicate that a particular
Purchase returns Sometimes, goods purchased are returned back to the suppliers for various reasons such as goods are not as per sample, inferior quality of the goods, etc.