required for audit

297 views 2 replies
what is required for audit and what does check in audit of company and firm.
Replies (2)

Basically, your books of accounts. An auditor needs to make sure that your accounts and the financial performance of the company has been presented in a fair and accurate manner. There's absolutely no limits to what an auditor might ask you to provide. At any given time, they can ask for specific accounts, books prepared by your internal auditor. They might alsi visit your inventory etc. Basically, you might be required to explain your business in and out and until, they're convinced that there's no window dressing and the performance of the company is exactly as is represented in the books. You can be asked to explain whatever he asks you.

first of all check the purchases and sales with VAT returns and GST returns
reconciliation to be done based on returns with the tally books
identify mistakes and correct the sales with the returns if returns shows high
identify the actual balance of duties and taxes as per return matching with the tally data
check the bank balances with tally data balances
compare the expenses of current year with last years, if finance year expenses more ask the reason for increase
conform the creditors balances with account statements obtained

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details