Ledger scrutiny

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sahil (Querist)
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27 January 2010 how can we perform ledger scrutiny of following

1 Current Assets(Debtor,Stock,Loan&Advance,Misc Expenses)

2 Direct Expenses(Bonus,Conveyance,Fees,Wages,Water& electricity Expenses)

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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27 January 2010 Debtors : Calculate debtors aging, make ABC analysis, Sample check confirmation from debtors ( by call or mail) to check the geniounness of debtors etc

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
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27 January 2010 Very Good Question for Auditing Area.

Ledger scrutiny reveals "undue pattern" of accounts, if any.

For example; an amount outstanding for more than 2 years is suddenly paid; it may create suspicion whether it is actually paid.

First of all; opening balances of all the accounts will be checked from previous finalised trial balance.

Rest of checking would be made on the line suggested by me to you already........when you asked the same question before...

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