Role of an Auditor in vouching Payment of Income Tax The auditor should verify whether it is advance tax, self assessment tax or final payment of tax. 1.
Concepts of Cost Audit The Companies Act empowers the Government to direct specified class of companies to maintain records relating to cost. The cost records of such companies
Vouching Sale of Fixed Assets An auditor has to verify the following documents while auditing Sale of fixed assets. 1. Fixed asset register. 2. Sale Agreement. 3. Statement
Vouching of Loan Received An auditor has to verify the following documents while auditing loans received. Documents to be verified: 1. The loan agreement. 2. The sanction ticket
Vouching of Collection from Debtors The auditor should examine the following while auditing Collection from debtors. 1. Copies of sales invoice. 2. Statement of accounts received from debtors.
Vouching of Income from Investments Some companies would have invested large amounts in shares, securities, deposits and scrips. They may maintain separate investment registers recording the details of
What is a Resource Audit? Audit conducted to understand the strengths or weaknesses of the resource base of a firm is called a resource Audit. In other words,
Disadvantages of Continuous Audit In spite of many advantages of continuous audit, it has certain drawbacks, which are discussed as under. 1. Alteration of Figures In case of
Advantages of Continuous Audit Continuous audit enjoys many benefits. Of them, the top 10 most important advantages are detailed below: 1. Immediate Detection of Errors and Frauds Errors
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