I m going for an audit of a Trading Company .
what r the steps which i should follow for a successful audit & audit evidences, working papers to be collected.
Gurmet Siingh (Chartered Accountant) (413 Points)
05 February 2008I m going for an audit of a Trading Company .
what r the steps which i should follow for a successful audit & audit evidences, working papers to be collected.
CA Dilip
(Financial Service)
(181 Points)
Replied 28 March 2008
1) Working Capital - Most Important
2) Stock Turnover
3) Bad Debts
4) Crs and Drs Analysis ( Credit Period )
5) Purchase Procedure (whether lowest price, quotation accepted)
6) Sales procedure - unform price for all parties.
7) Sales Tax and other tax matters.
8) Storage / Damage
9 physical Verification of Stock
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
