Audit engagement

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 December 2014 Dear Sir,
I am an Chartered Accountant.I have been approached by an Client,who is having an registered Political Party.They need to submit Statement of election Expenditure to Election Commission of India and the same statement need to be certified by an chartered accountant.Where as they are not maintaining any books of Accounts not even an Bank Account is maintained. As per them no monetary transaction has happened.So can you please suggest me how to proceed further.Can we accept the assignment .if so what documentation need to be taken from client.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

12 December 2014 You can very well accept the assignment.
The election commission has given the FORMAT in which the details of the expenditures are required to be furnished. Ask the same to the concerned political party. Applying the usual auditing techniques, you can then proceed to give the certificate.....