Carrying an internal audit for a company..urgent sir!!!
Rajesh (abc) (481 Points)
12 June 2012Rajesh (abc) (481 Points)
12 June 2012
Joey Tribbiani
(fdg)
(2010 Points)
Replied 12 June 2012
Dear Mr Rajesh,however there is,as such,no book available in the market for internal audit per se as internal audit differs from company to company as per engagement terms. However you can refer to books issued by ICAI for understanding of general points of the industry. Browse through the ICAI's website for the same.
DHARMENDRA SHARMA
(Senior staff)
(444 Points)
Replied 30 July 2012
Although,this is right that internal audit procedure differs from company to company,yet some common procedures are there:
Vouching
Cash vouching with cash book
Bank vouching with bank book
Journal with Journal book
Cash verification at a certain date
Bank reconciliatin checking
Statuory compliances checking
-- whether tds have properly deducted or not
--whether tds have been properly deposited or not
--likewise,all the statuory compliances should be checked
Ledger scrutiny