Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

revenue audit

ChinalJain (CA) (38 Points)

04 February 2017

Hello everyone,

Is there anyone to explain me the purpose of revenue Audit or the procedure of doing it.? Otherwise send me link or PDF of it.

Reply
Follow
Share

7 Replies

Prashant Sharma (CA) (389 Points)
Replied 04 February 2017

The purpose of doing revenue aduit is to check wether income from all resources to bank are properly recorded by bank or not. If they not doing this than it is part of revenue audit to report such revenue leakage to there zonal office or respective authority

Upgrade to CAclubindia Pro. Subscribe Now!

ChinalJain (CA) (38 Points)
Replied 04 February 2017

means in any case if the bank charged more than the actual charges, its not a part of revenue audit and hence not to be recorded. Is it so?

Amitav (Chartered Accountant) (5993 Points)
Replied 04 February 2017

Originally posted by : ChinalJain
	Hello everyone,Is there anyone to explain me the purpose of revenue Audit or the procedure of doing it.? Otherwise send me link or PDF of it.

Do you mean Revenue Audit in Bank or some thing else ?

Prashant Sharma (CA) (389 Points)
Replied 04 February 2017

Bank charge according to instruction not more than that. Sometime they enter such information that there customer are not charged nothing. This is the purpose of revenue audit to find out such cases.

Prashant Sharma (CA) (389 Points)
Replied 04 February 2017

Bank charge according to instruction not more than that. Sometime they enter such information that there customer are not charged nothing. This is the purpose of revenue audit to find out such cases.

Upgrade to CAclubindia Pro. Subscribe Now!

Avinash Kumar (CA-Final Students) (192 Points)
Replied 04 February 2017

In revenue audit most of the leakages are detected in advances section in terms of Processing fees, documentation charges, inspection charges etc. You should check advances made during revenue audit period.

1 Like