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
Role of Auditors in examining Sales Ledger While examining the sales ledger, the auditor should make note of the following. 1. If the customer makes part payments, then
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
Vouching – Important Points to be considered by Auditors An Auditor should consider the following features in vouching while verifying vouchers. 14 important points are listed below. 1.
Role and Responsibilities of Auditors in Inventory Valuation Auditors play an important role in valuation of inventories. Their responsibilities in physical verification of inventories, Records verification, Valuation and
Appointment of First Auditors 1. Appointment by Board of Directors 1. Within one month from the date of registration of the company, the first auditor or auditors may
Hotel audit In hotel business, usually the internal control procedure tends to be weak and ineffective. Therefore, the auditor should carefully evaluate the effectiveness of internal control system
Receipts to verify in Cinema Audit The following are the receipts for a cinema hall: Cash collected through sale of tickets. Charges collected for advertisements, slides and short
Audit of Educational Institutions The auditor may thoroughly study the trust deed of the trust to which the school or the college belongs and in the case of
