What is Material Information? If an information given in the financial statements and other statements annexed thereof, influences the decisions taken by the user, such information is said
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
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
Issue of Bonus Shares The issue of bonus shares refers to a good method of capitalizing huge profits or reserves with the company, However, the company may capitalize
Auditor duty in verification of Outstanding Liabilities At the close of the year, there may be some outstanding liabilities for expenses, which must bring into accounts to arrive
Verification and Valuation of Liabilities and Guidelines for auditors Verification of liabilities is equally important as that of verification of assets. The Balance Sheet will reveal the true
Objectives of Share Transfer Audit The main objectives of the share transfer audit are as below: 1. Checking or preventing clerical errors. 2. Preventing the improper issue of
What are Calls in Arrears? When one or more shareholders fail to pay the amount due from them towards allotment and/or calls, such dues are called calls-in-arrears. If
Receipts to be verified during Hospitals audit The following are the various receipts a hospital may receive: 1. Grants from Government 2. Aids and grants from outside India