Audit of purchases

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2014 Dear sir,
NOw iam doing vouching for purchases.
The thing is Accountants are entering the entry on delay.
Suppose invoice date is 25/06/13 but they entered entry on 13/07/13..
Like these happening for all Vouchers..
As an Auditor how can i Report that,is their any provisions related to that .
up to how many days we can excuse them...
Please do the needful.......

Sandeep Dharar

Sandeep Dharar (Expert)
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26 June 2014 U must inform the management about it in writing. U must literate them that if the purchases r entered delay then the return will effect by that. And they may receive any notice from IT Dept. regarding that.

U must tell them to develop the habit of entering the vouchers on the date as mentioned in the voucher.

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Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2014 Sir Could you tell me what type of returns will affect..
i mean to say other than any Annual returns..

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Sandeep Dharar

Sandeep Dharar (Expert)
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26 June 2014 Elaborate I didn't understand. If u r asking about the effect of delay entry of purchase. Then everything will effect. Like if VAT is applicable then the quarterly return will affect, resulting in negative effect in B/S, P&L etc.

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2014 Incase of imports what will effect
one more ......
Actually the invoice date is 25/03/13.but date of entry is 2/4/13.which result in next year .what we do to this case..

Sandeep Dharar

Sandeep Dharar (Expert)
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26 June 2014 U must ask the management regarding the matter. That y the entry in the system is posted on delay basis. And after that take necessary steps.

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