Audit Process / Procedure / Checklist

Name of the Auditee:Year Ended: 31st March, Sr. No. 1. 2. 3. 4. 5. 6. 7. 8. Areas Period of checking Letter Date: Letter Date: Letter Date: Extent of checking Checked by Name Sign. Received Date: Sent Date: Sent Date: Date of checking Page no. / Ref. of working page if any

Appointment Letter NOC Letter Acceptance Letter Inventory of Books and Files received Prepare brief note on nature of business. Initial requirements Letter Get Trial Balance or P & L and Balance Sheet Get Complete Stock Quantity Tally / Details and its Valuation Get copy of Form 108 filed with Sales Tax / VAT Authority Stock statement submitted to Bank, if any, against C. C. etc. Critically analyze / compare Balance Sheet, P & L with previous year figures including ratios and all details required for audit Note Down Critical Areas and Requirements, draft a letter and issue letter of requirements to the client. Decide extent of checking Applicability of Accounting Standards Opening Balance Checking Closing Balance

9. 10.

11.

12.

13. 14.

Use Separate template / sheet

15. 16.

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Audit Process / Procedure / Checklist

17. Checking Cash Vouching (including Petty 18. 19. 20. Cash) Bank Vouching Journal Vouching Purchase Vouching Imported Purchase 21. Indigenous Purchase Sales Vouching - Export Sales - Local Credit Sales - Local Cash Sales 23. Credit Notes - Raised by Auditee - Received by Auditee Debit Notes - Raised by Auditee - Received by Auditee Ledger Scrutiny & Closing Balance Qty. Records and Reconciliation Verification of Excise, Sales Tax, Octroi etc. Check FBT Return and correctness If manual books Posting if specifically instructed Check Bank Reconciliations Whether TDS Deducted as per requirement of Law and paid? Check TDS Returns and challans also. Reconciliation of Accounts of sister concerns/Associates

24.

25. 26. 27. 28. 29.

30. 31.

32.

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Audit Process / Procedure / Checklist

or Personal Books of wherever maintained Cut off Procedure and provisions of - Telephones - Wages & Salaries - Electricity & Motive Powers - Professional Fees - Sales Tax - Depreciation - Income Tax - Purchases - Job work/Labour Bills - Leave Salary - Interest - Bonus - P. F. - E.S.I. - Excise - Custom Duty Property Tax If Partnership Firm - Checking of Interest to Partners - Checking of Remuneration to Partners As per Partnership Deed Get Management Representation Letter Preparation of Tax Audit Reports Prepare Income-tax Return Get Partners Approval Get AuditeesSignature Signed by Partner (Name and Date) Bill Raised Details

33.

34.

35. 36. 37. 38. 39. 40. 41.

Bill Date:

Bill No.

Amount:-

Supervised by:-

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