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Categories >> Accounting >> Audit


 Audit interview questions  Audit Interview Questions (422)
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How i do ledger scrutiny(give the examples of rent share 
capital etc.)
 Question Submitted By :: Kirti
I also faced this Question!!     Rank Answer Posted By  
  Re: How i do ledger scrutiny(give the examples of rent share capital etc.)
# 1
Ledger scrutiny means to check whether the closing balance
is showing the natural closing balance in trial balance.
e.g. Dr. Bal for all the expenses and Cr. bal for all
incomes. If it is not showing the natural balance the
person scrutinising has to find out the reasons for the
One has to find the recurring behaviour of ledger like rent
for Monthly debits
Is This Answer Correct ?    90 Yes 37 No
  Re: How i do ledger scrutiny(give the examples of rent share capital etc.)
# 2
In case of rent paid we have to see that whether in rent A/c is paid regularly,consistency shd b there
2. Amount of rent paid shd be in accordance with rent agreement
3. Security deposit with the land lord shd nt be charged in
rent A/c
4. If we r paying the property tax also then we shd see tht
it shd mention in rent deed.

Share Capital
1 We shd check is there any fresh issued share capital
during the year
2. if issued then the company shd hv the authorised share
capital upto issued new share.
3. whther all d call money has been received properly or not
in issue of share capital.
4. and we shd also see if share r issued as bonus then the
expenses incurred on such issue can be claimed in P& L a/c
but in other case expenses on issue of share cant be claimed
in P & L a/c
Is This Answer Correct ?    51 Yes 7 No
Laxmi Narain
  Re: How i do ledger scrutiny(give the examples of rent share capital etc.)
# 3
Ledger scrutiny in tally

1.Adhearance to accounting standards
2.Proper grouping of ledgers
3.Adhearance to accounting principles
4.Adhearance to ICAI guidelines
5.Adhearance to the principles of double entry system
6.Trend analysis in regular expenditure
7.Statutory compliances
8.Proper narration in entries
9.Long outstandings
10.Linkage between the grouping and the nature of
transaction entered into with various parties
11.Booking of expenditure
12.Proper realisation of income
13.Linkage between accounting treatment and narration
14.Proper accounting treatment
15.Seperate accounting treatment of income and expenditure
16.Entry in proper voucher type
Is This Answer Correct ?    41 Yes 5 No
Ishita Ramani
  Re: How i do ledger scrutiny(give the examples of rent share capital etc.)
# 4
ledger scrutiny means cheking that all necessary provisions
are made or not.
whether previous year provisionas entry are reversed or not
Depriciaon rate and its calculation
Is This Answer Correct ?    14 Yes 16 No

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