FOR INDIA'S BEST CA CS CMA VIDEO CLASSES CALL 9980100288 OR VISIT HERE
Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

9 Steps For Conducting Audit

9 Steps For Conducting Audit

In our routine work of audit we facing lots of problems but the question arise how to deal these problems nobody knows. Every article knows to conduct the audit but the question is how to start it and what should be the steps to be taken for conduct the audit.

 

9 Steps For Conducting Audit

  1. Firstly when you reached at client place analyse the environment surrounding you and this will help you to ascertain the internal working of entity and helps you to make your work easier by adopting the procedures according to the Environment.
  2. Thereafter, read previous year audit report clearly this will help you recognized last year irregularities or examine whether it is continue or not and if it is not rectified then, what were the possible steps took by management.
  3. Check the opening balances of ledger and asked the management for trial balance of current year along with previous year from the management in excel format if possible.
  4. Compare the current year balances with last year balances of trial balance and if there is any material changes arise then analyse the reason for such change.
  5. Check the following document during audit
    1. Lease/ Rent agreement
    2. Sale and purchase register with supporting documents including VAT Return
    3. Fixed assets register for any addition, deletion or sales of assets
    4. Calculation related to Gratuity, EPF, Pension, Bonus etc. if applicable
    5. Bank Reconciliation Statement along with External confirmation form bank
    6. Other documents which you think to be examined
  6. Check the calculation of deferred tax if applicable on the entity.
  7. Examine the tax returns such as Service Tax Return, VAT Return, Excise Return etc. and compare it with the related records such as Excise Registers, Challans etc.
  8. Don’t forget to take Written Representation from the management regarding the facts for which proper documents are not provided by the management along with the reason for not providing the evidence.
  9. Take the necessary steps for preparing working papers for the observations while conducting the audit this will help the other person for drawing the conclusion.

 

Check Out Best Recommended Audit Video Classes For CA Final May 2016 Exams

CA Final Group 1 - Advanced Auditing and Professional Ethics (English)

CA Final Group 1 – Advanced Auditing and Professional Ethics (English) by CA Vikas Oswal

 

CA Final - Advanced Auditing and Professional Ethics

CA Final – Advanced Auditing and Professional Ethics by Karan Manshukani

 

CA Final Auditing by CA Vinod Kumar Agarwal and CA Aarti N. Lahoti

CA Final Auditing by CA Vinod Kumar Agarwal and CA Aarti N. Lahoti

 

Also Check Out Best Recommended Audit Books For CA Final May 2016 Exams

Padhuka Students Handbook on Advanced Auditing for CA Final by G Sekar & B Saravana Prasath for Applicable May 2016

Padhuka Students Handbook on Advanced Auditing for CA Final by G Sekar & B Saravana Prasath for Applicable May 2016

 

Professional Approach to Advanced Auditing (in 2 Modules) By CA. Kamal Garg

Professional Approach to Advanced Auditing (in 2 Modules) By CA. Kamal Garg

 

Solved Scanner CA Final Group - I Paper-3 Advanced Auditing & Professional Ethics

Solved Scanner CA Final Group – I Paper-3 Advanced Auditing & Professional Ethics

 

9 Steps For Conducting Audit

For CA CS CMA Related Books Scanners And Video Classes visit www.cakart.in

At CAKART www.cakart.in you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive) most popular books of best authors (ebooks hard copies) best scanners and all exam related information and notifications.Visit www.cakart.in and chat with our counsellors any time.

Leave a comment

Your email address will not be published. Required fields are marked *