During the time of Audit which matters will be kept in mind?
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Answer / sivaprasad
I first of all verify all closing balance of the previous
year balance sheet are brought forward this current
financial period.
1.go to the memorandum and articles for directors details
if pvt ltd company.
2.Go to mintitues for directors details of remuneration.
3.all bank statements should reconcile.
4.All receivables and payable reconcilation statements.
5.Physical stock crossed with invoices.
6.all vouchers with cash book and bank book.
7.what are the methods follow in stores.
8.cross check with grn and s/creditors payments.
9.go to partnership details if firm is partnership.
10.Go to Statutory payments made in bank statement with in
due date or not.
11.verify all cash payments and cash receipts may be with
in Rs.20,000/-
12.All expenses must verify with supporting voucher and
identify it is allowable or disallowable.
13.Verify fixed assets register with deprecition shedule.
| Is This Answer Correct ? | 16 Yes | 0 No |
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EBIDTA
1.How do you effectively solve Accounts problems 2. What was the most demanding / stressful situation that you have handled in your current capacity (Accountant):
Audit 
