Audit of Two Wheeler dealership firm

This query is : Resolved

Amol Katare (Querist)
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14 January 2009 Hello,
I have to carry out the audit of 2 wheeler dealership firm.(Partnership firm)
PLZ suggeest the areas to audited.

Guest

Guest (Expert)

14 January 2009 Revenue should be fixed on the basis of % of sales achieved (commission basis). You can refer to contracts with various manufacturers for the same.
Actual sales should be vouched for, on the basis of documentation.

Check for commission paid (Sub Commission, if applicable) on the basis of ducuments.

Expenses should be vouched on the basis of business sense, personal expenses should be disallowed. Check for compliance from perspective of Income Tax, Sales Tax etc.