Answer Posted / latha
Audit means verification of accounts for a perticualr
period like financial year 2003-04, or 2004-05, or 2007-08
like this.
vouching plays an important & first role in verification of
account, in audit first step is vouching, then compare
vouchers to cash book, should be find any mis entries...
then cash should be compared with bank stmt.... after all
primary steps trial balance should be prepare, after should
be seen or verify about ledgers, where all ledgers are
created under correct headrs or not, all groups, ledger -
overall view.
after all accounting proceedure, Receipt & Payment Account
should be prepared & based on that Balance sheet should be
there
Balacne sheet is a last & final step in auditing,
Once the balance sheet is prepared, signed & submitted
means audit is completed
| Is This Answer Correct ? | 69 Yes | 33 No |
Post New Answer View All Answers
Explain the difference between internal audit and external audit?
vat on liquor vat on food ? vat on bevrages ? vat on tobaco? vat on gold?
1.tell me five points of check list of an audit. 2.what do you checking in statutory audit.five main points. 3.what do you checking in internal audit five main points. 4.which five major points checking according to caro.
central excise all question
How does the internal audit differ from an external audit?
What is the purpose of meeting in audit?
How to do an internal audit effectively?
whta is the current SBAR? Please provide the past rates from 1st january 2011 to till date.
May deduct TDS Froma reseller ?
What was your most rewarding accomplishment of your career and why
Explain the importance of internal audit to the organization?
Who will audit an auditing firm?
What are the basic principles of an internal audit controlsystem?
what is the difference you can make by doing your course in the country of your choice
purchase price of property purchased within last 3 years is to be relied upon not and not on revalued amount for the purpose of loan against properties.
