Fixed Deposits
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2010
What points are to be considered in audit of Fixed Deposits.
14 April 2010
Following points to be looked into:
1. Authority taking decision to invest fund in FD
2. Investment policy if any
3. Recognition of income (interest) on accrual
4. TDS accounting and certificate for same
5. Interest calculation and ensure whether interest is received correctly
1. Authority taking decision to invest fund in FD
2. Investment policy if any
3. Recognition of income (interest) on accrual
4. TDS accounting and certificate for same
5. Interest calculation and ensure whether interest is received correctly
14 April 2010
Also check-- Full compliance of Companies (Acceptance of deposit) Rules, 1975 along with section 58A and 58AA of the companies Act, 1956.
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