hw to audit BRS and hw to vouch the interst credited by bank
11 Replies
Vineet Kumar Singh
(Accounts Officer in Bihar State Power (Holding) Co Ltd)
(264 Points)
Replied 23 March 2011
BRS means..reconcilation of Bank balance as per Bank book with bank balance as per pass book.
BRS is checked by verifying the balance from Bank statement with the entries made in the Bank book maintained by the client/account holder.
Simply interest shall be vouched by calculating the specified banks interest rate with period and it should be checked that weather its effect has been taken in the books or not.
PREETI GUPTA
(Article,CA Final New)
(60 Points)
Replied 25 March 2011
hello frnds
What important points should i considered during internal audit
Pls tell
Preeti
Vineet Kumar Singh
(Accounts Officer in Bihar State Power (Holding) Co Ltd)
(264 Points)
Replied 25 March 2011
let me know for which internal audit u r asking...for Banks....any pvt Co.,,,,wich type of co.???
PREETI GUPTA
(Article,CA Final New)
(60 Points)
Replied 26 March 2011
I m doing internal audit of a Export house registered as Partnership firm
Vineet Kumar Singh
(Accounts Officer in Bihar State Power (Holding) Co Ltd)
(264 Points)
Replied 26 March 2011
In that case you have to check its all books of accounts....such as Purchase according to purchase order...sales according to sales order.. all vouchings and verifications.. may be Stock verifications also..
In Internal Audits all the areas has to be covered..
PREETI GUPTA
(Article,CA Final New)
(60 Points)
Replied 26 March 2011
Ya I had already verify all these vouchers ,,but my CA said to improve ur working report
That's why i asked for some important points to improve my reporting
Vineet Kumar Singh
(Accounts Officer in Bihar State Power (Holding) Co Ltd)
(264 Points)
Replied 26 March 2011
Suppose in case Statutory payments...you should try to find the cases where your client have paid excess tax...or done any mistake in collection..TDS...ect...
for a effective report you should try to focus on those areas where there is a continous loss to the client and through your report it can be reduced or eliminated. then your report will be highly valuable.
It can be in part of Accounting.
PREETI GUPTA
(Article,CA Final New)
(60 Points)
Replied 26 March 2011
Thanx .......Vineet
Also do me a favour wheather i have to refer some books for effective audit or i will get the knowledge from practices
Vineet Kumar Singh
(Accounts Officer in Bihar State Power (Holding) Co Ltd)
(264 Points)
Replied 26 March 2011
you need not refer any books...rather you ill develope it from regular practice...I am also doing Internal Audit of a Construction Co.
PREETI GUPTA
(Article,CA Final New)
(60 Points)
Replied 09 April 2011
Hi.....
If company use a shop & paid rent for the same. And in the mean time done some addition in the shop like wooden work, cubbord furniture etc.
So pls tell me that under which head this expense should booked in accounts.
Also tell if their is some building addition
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