Check list for cash & bank payments verification

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Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2013 Pls send me the detail check list for cash and bank payments verification for internal audit purpose.

Ganeshbabu K

Ganeshbabu K (Expert)
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26 December 2013 refer my reply for cash payments verification
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https://www.caclubindia.com/experts/cash-a-c-1555134.asp#.UrwQWPQW11Y
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you need to improve audit programme inline the business operations

Ganeshbabu K

Ganeshbabu K (Expert)
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26 December 2013 You have to improve audit programme as per your case..
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1) Check Date, Party Name or Expense Head, Amount, Narration and cheque number matched between voucher
and Tally.
2) Were the vouchers duly authorized and filed in order and supported by external evidences
3) Whether the person approving the payment had the necessary authorization.
4) Whether the vouchers are numbered serially and match with the accounting software
5) Whether the Cheques are issued in order
6) Whether any old cheques are released towards recent payments
7) Any cancelled cheques/ payment vouchers filed in order
8) Any personal transactions have been made through company‟s bank account
9) Check whether the expense accounted under the correct ledger head.
10) Accounting Period - Relates to which financial year

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