Tag: vouching
Guidelines for Auditors
Vouching of Goods Received on Sale or Return Basis or Consignment Basis – Guidelines to Auditor Sometimes, goods are received from the suppliers on sale or return basis. Such …
Audit Procedure
Vouching Sales Ledger or Debtors Ledger – Procedure, Guidelines to Auditor After having checked the Bought Ledger, the auditor should proceed to check the Sales Ledger, which contains the …
Audit Procedure
Vouching of Bought Ledger or Creditors’ Ledger – Audit Procedure & Guidelines Bought Ledger consists of creditors’ accounts. An auditor should check the opening balance of different accounts in …
Guidelines for Auditors
Vouching of Forward Purchases – Procedure, Guidelines to Auditor In certain businesses, forward contracts are made for future purchase of raw materials at a fixed price. Such deals are …
Audit Procedure
Vouching of Wages – Audit Procedure and Guidelines to Auditors The vouching of payment of wages is an important duty of an auditor. There are many chances of misappropriation …
Audit Procedure
Vouching of Consignment Sales A separate day book and ledger are to be maintained for the details of goods sent out on consignment The auditor should verify the following. …
Audit Procedure
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. In …
Audit Procedure
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 of …
Audit Procedure
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 issued …
Audit Procedure
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. 3. …
