Audit Notes Surbhi Bansal (IPCC) - Download as PDF File .pdf), Text File .txt) or .lChecking all entries i.l,],?, book-s of Accounting havl been taken rvhile. Attached File: advanced audit full notes by surbhi bansal soundofheaven.info downloaded times. Reply. plz send m some audit notes in hindi and it sm notes. Reply Ny notes by surbhi bansal mam for company auditor of co act nd caro. Plus tax audit notes.
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The link: Audit Notes Surbhi Bansal (IPCC) Why don't all books get replaced with PDF files? Either you enroll yourself for audit in stargate (coaching). OR. Check out the soft copy of Audit notes/book by Surbhi Bhansal for PCC/IPCC really ooking for surbhi bansal's notes. pdf version please. CA SURBHI BANSAL. sajpg. File Size: kb. File Type: jpg. Download File. DOWNLOADS. Version: Mobile | Web. Created with Weebly.
Assess i 6. II'd iteJt.. Examine accounts.. Sign in Forgot your password? Risk of rtntler reliuice: The progratlme should lrave sufficient details so that it can be uscd as a soi i.
C fiorlr estatrlisllccl Nlariurunt rtlc ot'cltrviatittn Procctlure trlottctarverrclr. Itr srtbstntrlive Drot'edurc: However audit rePort is not erroneous. Based upon sarnple. It clcpends. SamPle Nlcthod of Sarnpling [! Specific objective and procedures' Audit Objecti-'r'e i beappropriltc' 1ii I'oprrlatiolr lt slr. Surprise checks are ttsefttlnrcthodsof deterrniningwhether or not such errors exist and rvherethev exist.
G ilii itiii. It is not necess. Y' 1' 5. They should. Prttjectirttt ttJ' I: II'd iteJt.. The results of the strrprise checks slrould be communicatedto the management.
Verification of cashand investnrents. Wherever feasible. I["tStcp -. Factors affecting control environment Meaning Control Envirtlnment a Organisational Management super-vision a Itersonnel stry9!
Objcctin" oi z i.. Humsn Error: Estnblished control procedures lltav hct: The persrrn responsillle lor exercising i. Persontrcl Inhcrent lnit LimitotiortsLimst.
Cost bc rttore than its beneflts. Cltange Conditions cr: Examinatigl and evaltrationof lntemal control sysleln of tlrc clicrlt i. Fixing responsibilirl' fbr rvork donc. I tre to Wlriclr l. Recording of Transaction irt the accotllltcort-ectlr'. Sil'C 1. Properlysafeguarclsthe assetscorrect recording of transactiotl. F-ormulatingcut-off procedures to separatetransactionsof tr. Usuallv questions are frarned in sr"rcha ro.
X'Ieuning [: Jctl t. I '1'J. For -stock corrlltil t: L -r'. Example He shour. S y ' s t e r lc titlttiott. Clrecking a ferutransacticrtts'. During stock taking at end of accounting period.: No Independent control i. Review operation of overall lnternal Control Systern. Stock Control ' Check accuracyand authenticityof records presented i i ii plans.. Facilitate prevention and detectionof misstatements. Confirm existenceof Liabilities. Check by:. Job Rotation: Examinc safeguardingof asset.
Leuve ttttother Duties of staff it'o"t. Objectives of internalaudit are to: Cash Control ii: Fraud done by ernplol. To prevent misappropriationof cash Conduct specialinvestigationfor management. I lrcaccountitig l t t l. ManagetnetttcxPerienceand I..
Factors I I. CUN i i ri.. Nature Industry' affectirtg 5. C o n t r o l regarding the internal control f. Cornpletion of unusual transactionat period end.
Judgernerrt 5. I v l a n n eo r l'initilrlitrro r p ': Transaction not subjected to ordinary processlng. Irtherent risk i.
Unusual Pressure management. Quality of Accounting SYstem' 2. Assels proneto lnisappropriation' or near 6. Clortdticting policies. CornPlex transaction. Controls ' I. FIe lhcuki i accordingl. On tlre basis of the resultsof the test of conlrols. The auditor shoLrld preliminary asseslnleni make a to aontrols internal: Pote rttial of lruntan error-: It refers to evaluatingthe likely cflectir'': Atlrse of coritrol bl the persoit uho is [rimself rcsJ ' ltsit]!
I assessment of.. NTE of audit proceduresi:. R procedures substantive as cir Risk tltat ertrclitor's. Risk of SYstem of management' of Risk of I.
Detection Risk D Misstatements nlaY occur'. DR should be r lorv level-: Arisesat auditor's level' Arises at level of managetnent' A r i s e sa t l e v e l o f I n a t t a g e n t e n t ' risk' this risk' i Audit. C systemis in fact good. C effectiveness sysjc-! Low But to haveevidence that l.
Work of intenral a1d's-Ypervised' has been properly P-lanned. Ilvaluating Specificinternal. F VI AuDi'i'oii ll.
Intenral a.. I a 5-l.. Conclusions by internal auditor by managentent' audito.: Scope of Work of interrralauciitors appear to be lPProPtlt"'. Autiit Fl"l'F! Input is duly q!
Incorrect transactions arerejected or submifted aftercorrection. Lrrrht L. Restricted access to dataand programs to authorised personnel only. Transactions are properlyprocessed by the computers. Processing errors are cletected and corrected on a timely basis. Restricted Access to systemdocumentation. Controlsover I'roccssing and cornputerdata files:. I I Audit trail-meanlnB ti. Master file and Batch tile' 3. Auditor examines processing reliabilit.. Aq-dit qe! It requiresusc of CAAT.
It ttteittts that arrcliti. Packoga '.. Th9s9are nq! Auclitorshoulcl use such programsonly after he provi: Softwary rya. T'hc auditorean use the conrputcr to test: Progronr J These urreprograrns for perForming cornmon data processing functionslike sorting.
These are Conrputer Programsto perforrn Audit tasks in specific circumstances. Pntgrams '. It is requireddr-re to: Testing itttcrttal "ii. Theseare ttsetl cntries s6otrld be clinri'ate. Detailcd tcclrniques. I ' I lrc tcst tlata are chosell bf' tlie The potential for hurnan error in developnrent. Manual contnrl procedure may g IS.
If managcrnent erl Po t ent i al fo r incr eo: Potentialfor usa of CAAT! Eirsurethat c-rutput Ensure that there is adequatedata security against fire and other calamities. Ilave data recovery arrangenrentso that in case ol irrterruption duc hr i-] lr'!. Special attentionslrould be given to follorving: Auditor shouldcheck grouping of differerrt items. Ensure that I. FIe shouldcheck legal provisions.
It clearly slrows naturr and antourttof recciptsand pa 'Itle After exarnination. Check copy ofcontract. Method of DePreciatiott. Directorsrernunerationshould not be clubbed with empioyee's salary. S p e cbeen ialat tetrttonill addetl to check whethersame has b" given to. Authorisation r. Purglgrsgj-Pgdi l. Revenue ExPenses r. I ' ille of clicnt 0rv: For travelling expenses clairned by directors.
Examine the etnployee data such aS name. Examine the acknowledgements Check deductions w. Employee data. Check posting irr travellingexpensesaccount. Check rvhether perrnissionol. Check reasclrrat. Various preiiminary expenses registration fees. Pnrspectus o 5. Compareamounl of travellingexpensesrvith the previous year's figurt. Disbursement of salariesand wages ' Custody of wage records '.
Check receipt issuedby lawyer. Attendance record of employees ' Appointment. Ensure that employees who have retired or otherwise left the senviet: Control over dummy worknren 't!. TDS and Provident fund etc. Tracethe relevantpaymententry in bankstatement' I v: Examinetherelevantlega applicabi ityoranycontract.
ExPenses' I.. Trace the relevant entriesmadein cash book. Check rvhether panel interestclrarged on delayedpayment of in. Trace entry itrto notninal account. Trace the transfer entry from cash book to petty caslr book io ascoriain amount given to petty cashier.. Ipens-es I 1. I t'i' 2. Enquire anv'delay in actualpayment as per provisionsof CARO. Obtain acknorvledgernent 't. Corttputation Check Assessmentorder or demandnotice issuedby the tax autltorities" Examine receipted challan to check that amount shown therein is the s.
Reconcilethe due dates and actual dates of payrnent. Check its reasonableness. Examinebalance of petty cashin harrd. Check the limit of imprestrvith a particular employee. Trace entriesirr income tax paid account. Forpaymentofdividendtonon-residentshareholders'ensurethaiRB hasbeenobtained' permission Tar has beenpaid' DividendDistribution Excise d'1. Ensure that provisiorr of the Cornpanies Provisions w. Rill of entry. Custop duties.. Bntry in Aic v Incascofdisptrtci-cgardirtedrrr.
Transfer to Reserve Dividendn ttlfi. I register Shareholder's I I 5. ComPanies dividenri' of unclaimed instances Examine entriesin bankstatement' Trace relevant! Pai'ment ellDividell! It can be paid as. Auditor should clreck tfte authorisatiol level to releaser 3. Aud itor should check reasonableness i-rt' of tlte cornpanies aci li: Privatccompal] of rvltich directol is a trtetrttrer.. I Price. Articles or i: Directly or indirectly In contractrvitlr the cornpanv Then. Payntent con!
Urrcler CM l'or follositr.. Check the ratea1rvlrich diff-erent Examine correspondingentry in cashbook. Receipt i 5. F F b Il L'rsuchirt! Production records ARP. F I Fr I b Records. Obtain confirmation lrctm tcuantsregardingallloutlt paid by thern. Eiir rr: A enteredinto rvith tenants. Check cor-rectness Ensure that TDS been properlv adjustnteni. For rent accnledbut not received.
Check the production rccords to determinequantit-r' Compare u. Check copy of rc'ceiptsissucdto tenant. ConrPutation receivetJ fronr publishcrs 1-rerittclicalstaternents hooks stllcl.
Cashbook v EntrY r.. If asset has beensold through agent. A fll-: Exermineackntirvledgement with official check correspondence ln case receiptof bankruprtcl.
A v Aeknowledgemcnt. Nf the bad debtsappearing in client's accounts. Check the arnountreceived with ref'erence of price by enquiringtl.
Examine reasonableness Ensure that saleproceedshave been fully accountedfbr. Auditor should study it to knorv amount of bill etc.
Nalure t t t l. I Bank commission I! Client usually prepare schedule of discounted bills receivable dishonoured. Check that drawer has beendebited in client books Check report of surveyorto ascertainthe valuation of krss.. If clairn received from GIC is less than actual loss suffered.
Check subsequent r' 'r fil I!. Examine bank's advicew. However' these should be shorvn as salesif:. The auditor should check that a provision for sales retums has been made agailst all the transactionsfbr rvhich the customer has the option to return the slreetdate. Clreck the status All such goods should be irrclLrdedin closing stock. Confirrrration ': I be vcrifled..
IVlclnorandullr system t t l r c l l a l. Theatlditorshouldseetlrataprovisionhasbeerrmadeforcontainersnot within tirne' returned b. A l l i n w a r d r e t u r nI irrventory records' records suclr as Retum inward register I T'he auditor should also examine other and Stores recorrls.. I-lte r. Stock rvith cuslotncr..
Overvaltration stock. Y uitit. No provision or under-provision in the expensesaccount included in the Trading Account. I'r lr"lrtse rcltrrns. Notify me of new comments via email. Notify me of new posts via email. This site uses Akismet to reduce spam.
Learn how your comment data is processed. Share this: Like this: Like Loading May I get audit notes for ca final nov. If it is.. Please provide it on my Email id. Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in: Email required Address never made public.