22 May 2012
Respected Experts, Can anyone guide me on how to audit petty cash (and its expenses) from an cash embezzlement point of view. 2) Please tell me what are the documents i should view? 3) What are the supporting documents i should verify if an expenses is debited? 4) What are the ideal internal controls for that? Its highly essential for me at this time. Please give me an elaborate explanation. Thanks & Regards, Rajesh.
firstly u may genrate Petty cash Ledger from software
Petty cash ledger ( in case of tally )
ZPCJ petty cash ledger ( in case of SAP )
then after u check all the cash payment vouchers regarding expenses .
u check the following in cash payment voucher (1)Whom approved petty cash expense (2)It is authorise expense or not for authorization you cheek SOP ( standard operating process ) (3)check maximum permitted amount of expenses then u check there paetty cash withdrawl (1) what is the permitted limit of petty cash withdrawl (2) In case of excess withdrawl Check approval of excess withdrawl finally the summary of your supportings A. Petty cash ledger B. cash payment voucher C. Approval Mails / hard copy of approvals
Thanx & Regards Vishwash Agarwal ( dear rajesh hope this ans para is helpful for your query )
Touch With Me Mail - vishwashagarwal@ymail.com Mobile No. 07666515328 Facebook - wwww.facebook.com/agarwal.vishwash Twitter - @vishwashagarg
firstly u may genrate Petty cash Ledger from software
Petty cash ledger ( in case of tally )
ZPCJ petty cash ledger ( in case of SAP )
then after u check all the cash payment vouchers regarding expenses .
u check the following in cash payment voucher (1)Whom approved petty cash expense (2)It is authorise expense or not for authorization you cheek SOP ( standard operating process ) (3)check maximum permitted amount of expenses then u check there paetty cash withdrawl (1) what is the permitted limit of petty cash withdrawl (2) In case of excess withdrawl Check approval of excess withdrawl finally the summary of your supportings A. Petty cash ledger B. cash payment voucher C. Approval Mails / hard copy of approvals
Thanx & Regards Vishwash Agarwal ( dear rajesh hope this ans para is helpful for your query )
Touch With Me Mail - vishwashagarwal@ymail.com Mobile No. 07666515328 Facebook - wwww.facebook.com/agarwal.vishwash Twitter - @vishwashagarg
CAclubindia
