The various duties of the auditor in auditing of fixed assets are given below. While verifying the fixed assets, the auditor has to examine the records and details
An investigation is a thorough and in-depth examination of specific areas either to establish a fact or to evaluate a specific situation. It differs a lot from Audit,
Techniques of Auditing Audit techniques stand for the methods that are adopted by an auditor to obtain evidence. SAP5 describes various techniques of auditing to be applied by
What are General Reserves? Retention of profit with no specific purpose may be utilized by the company for many purposes. The Board of Directors decides upon the percentage
Advantages or merits of Computerized accounts to Auditors 1. The operating system does all the complex and tedious tasks and the auditor’s job is made easier. 2. It
The auditor shall verify the bank balances as follows: Role of Auditor in verification of Bank Balance 1. The entries in the Cash Book and Pass book are
Understanding Operational Audit Operational audit is related to the activities in the functional areas; The policies and actual operations are compared and evaluated under operational.audit. The end result
If a company commits any mistake in recording the share transfer, it may be faced with the liability of paying heavy damages to the affected shareholders. Therefore, it
The following are some of the differences between revenue reserves and provisions. Refer this article, Audit of Provisions | Duties of Auditor to know more about provisions audit.
What is provision? Give Example. A provision is a charge against profit and it is not appropriation of profit. A provision is debited to profit and loss a/c.