Name of Concern

Audit for the year ended Assesment Year

Persons to whom the audit is assigned
Name of the persons involved in audit

Time(days) alloted for audit and actual time taken Time alloted Time taken Time alloted
1 1 2

Verifie Verifie Varifie

S.No. Particulars Date Date Date
d by d by d by

1 Verification Of Opening Balances 0f

1.1 Ledgers
1.2 Cash Books
1.3 Petty Cash Books
1.4 Bank Books
1.5 Stock Registers/Excise Records
2 Cash Books(Including Petty Cash)

If Vouching is done on test

2.1 basis,mention the basis of samples
taken.
2.2 Vouching Of Receipts
2.3 Vouching of Payments
2.4 Vouching Of Contra entries
Was Cash received from bank,entered
in cashbook from
Whether any cash payments was made
2.5 for expenses in excess of Rs. 20000 and
35000 in case of transporter ?
2.6
Was Cash balance negative at any time?
2.7 Are all vouchers entered under correct
accounting heads?

2.8 Are all vouchers for expenses/income

related to the year under audit?
2.9 Are Cash vouchers related to the
concern being audited?
2.10 Is revenue stamp of 1 affixed on
payments exceeding Rs. 5000 ?

2.11 Internal Controls on cash

handling,accounting and management.
2.12 Are all Cash vouchers authorized ?
2.13 Does cashbook includes expenses of
personal nature ?
2.14 Totalling & posting (not needed if
computerised)
3 Bank Book
 If Vouching is done on test
3.1 basis,mention the basis of samples
taken.
3.2 Vouching Of Receipts.
3.3 Vouching Of payments.
3.4 Vouching of Contra entries

Was cash deposited in bank,entered in

cashbook on the same day as deposited
as per bank statement ?

3.5 Are expenses/income received through

bank related to the year under audit ?

Are expenses/income received through

3.6 bank related to the concern being
audited ?
3.7 Are all vouchers entered under correct
accounting heads?
3.8 Verification of Bank Reconciliation
statement ?

3.9 Are there any cheques pending

clearance for more than 6 months in
the bank reconciliation statement ?

3.10 Are there any cheques pending

clearance for more than 6 months in
the bank reconciliation statement ?

reconciliation statement being entered

by bank but by the concern ?
4 Sales/Revenue

If Vouching is done on test

4.1 basis,mention the basis of samples
taken.
4.2 Vouching with purchase invoices
4.3 Verification of fews bills in-depth

4.4 Are purchases made by the concern any

ways relates to business of the firm and
if not ask reason for it ?
4.5 Whether MODVAT and/or VAT on
purchase are properly accounted ?
4.6 Are purchase related to the year under
audit ?
4.7 Are purchases related to the concern
being audited ?
 Are purchases returns related to the
4.8 purchases made during the year under
audit ?

Are purchases entered under

4.9 appropriate head, i.e..,raw
material,consumable stores,etc ?

4.10 Are purchase tallying with returns filed

with VAT/sales tax Department ?

Internal Controls on
4.11 procurement,accounting and payment
for purchases

In case of imports verify customs

4.12 documents,exchange Accounting as per
AS-11
5 Sales/Revenue

If Vouching is done on test

5.1 basis,mention the basis of samples
taken.
5.2 vouching with sales invoices
5.3
Verification of few few bills in-depth
5.4 Whether MODVAT and/or VAT on sales
are properly accounted ?
5.5 Are sales related to the year under
audit?
5.6 Are sales related to the concern being
audited ?

5.7 Are sales returns related to the sales

made during the year under audit ?

Are sales tallying with tax returns

5.8 submitted with sales tax/VAT
authority ?

Are other revenue tallying with returns

5.9 submitted with their regulating
authority ?

Are all sales bills in serial number; is

5.10 original copy of cancelled bills with the
concern ?
5.11 Verifying sales with excise records.
5.12 Checking the quantity.
5.13 Trading the cash memo/daily cash
receipts in cashbook.

In case of exports verify Bill of

5.14 Entry,Exchange Accounting as per AS-
11
5.15 Obtain third party confirmation letter
from debtors
6 Journal

If Vouching is done on test

6.1 basis,mention the basis of samples
taken.(nature and the reason shall also
be checked)
6.2 Ensure proper distinction between
revenue and capital nature items
6.3 Are entries made under proper head of
a/c.
6.4
Posting (not neede if computerised)
7 Salary & wages

If vouching is done on text

7.1 basis,mention the basis of samples
taken.

Verifying amount due with

7.2 appointment letter and salary and
wages register

7.3 Verify the PF<ESI and other retirement

benefits paid/payable with the challans

Verify whether the same are deposited

with the concerned authorities with in
time limit prescribed.

Verify whether bonus is paid in lieu of

7.4 share of profit in the concern.obtain
Bonus paid certificate and trace the
entry in cash or bank account as the
case may be.

7.5 Checking Contracts & resolutions for

payments to directors,executives,etc
with vouchers

Checking that all wages & salary sheets

7.6 & payments vouchers are properly
authorised
8 Stock Register

If vouching is done on test

8.1 basis,mention the basis of samples
taken.
8.2 Verification of inwards.
8.3 Verification of outwards
8.4 Balancing(Is any stock negative on any
day)
8.5 Verification Of stocks from excise
records

8.6 Verification of closing stock with Excise

registers (RG-1,RG-23 and PLA),If any
8.7 Are Sale Returns duly entered ?

8.8 Is There proper record for material sent

& received for processing/rectification ?

8.9 Are stocks tallying with stock

statements submitted to banks Fis,etc.?
8.10 Checking closing stock with inventory
details & its valuation.
9 Statutory Dues
9.1 Check Latest Income Tax Orders
9.2 Check latest Sales Tax/VAT orders &
Orders Passed during the year.

Check Excise and customs records and

9.3 audits conducted by the department,if
any
9.4 Are there any defaults in paying ESI
dues ?
9.5 Are there any defaults in paying PF
dues?
9.6 Is service tax paid in time & its return
filed in time ?

Is TDS Depsited in time & quaterly

9.7 statements filed in time also check TDS
Challans ?
9.8 Are TDS Certificate issued in time?

9.9 Are TDS Certificate (deducted by others

for the concern being audited) tallying
with relevant income for the year?
Verify TDS with AS-26 of CBDT.

Is ROC returns & documents filed in

9.10 time ? Is Filling fees accounted for in
books ?

Is wealth Tax applicable ? If yes

9.11 necessary provisions ,payments and
returns are made ?

Is the amount of advance tax and Self

9.12 assessment tax tallying with the
challans?
10 Share Capital & Reserves
10.1 Is Certificate obtained that balances of
share capital register agree with the
issued capital as per balance sheet?

Is distinction made for shares

10.2 subscribed in cash or for consideration
other than cash ?
10.3 Is distinction made for revenue reserves
and capital reserves ?
10.4 Is there a default by any director

In payment of call or allotment money ?

10.5 Whether proper return of allotment has
been filed with ROC.

Check Minute book to see the relevant

106 decision affecting share capital and R
&S
11 Fixed Assest
11.1
physically verification of the assests
11.2 Verification of bills for addidtions
during the year.
11.3
Verification Of depreciation charged.

11.4 If in any other currency,translate into

rupees and handle the difference in
Forgein currency Translation.
11.5 Verify the mortgage deed,Title deed for
legal,Equitable mortgage

Verify that dep. Is not claimed on

11.6 portion of CENVAT credit or VAT credit
taken

Verify minute book,resolutions etc.to

11.7 check whether there is proper
authorization for purchase or sale of
plant and machinery
12 verifying provisions for
12.1 Power & Electricity for the last month
of the financial year
12.2 Cellular & Telephone for the last month
of the financial year.

Salary & wages or other payment due

12.3 to the employee for the last month of
the financial year
12.4 Insurance & AMCs prepaid
 Provision for Gratuity ,leave
12.5 encashment,etc.,as per actuarial
valuation.

Other provisions such as staff

12.6 Welfare,VAT/sales tax payable, service
tax payable,income tax payable,Wealth
tax payable,etc.
13 Final Closing balances

13.1 Checking of final balances of Ledgers

Cash book,Bank book,etc with Balance
Sheet,Profit and Loss A/C

Comparing account head balances with

13.2 previous year and having answers for
major variations.
14 Ratio Analysis
14.1 Checking of ratio & comparing with
previous year's ratios regarding
. G.P. Ratio
. N.P. ratio
.Material consumed Ratio
. Stock in trade Ratio
. Debt Equity ratio
. Current Ratio
15 Internal Control System
15.1 IS the system in place to prevent or
detect fraud ?

Whether there are particularly

15.2 indentified subsidiary or business
locations,transcations,account
balances,etc where possibility of error
is high or risk of fraud is greater

15.3 Wheather internal control system gas

identified any serious weaknessess in
the system of internal control ?

Nature frequency & extent of

15.4 management's assessment of such
risks.
Tests of controls by knowing who
actually perform.
15.5 Wheather fraud risk factors exist ?
16 Scrutiny of
16.1 General Ledger
16.2 Party Ledgers
16.3 Inventories(Quantites and values)
17 Reliance on the work of other auditor
or experts.
17.1 Review of work done by an outside
experts/service provider.
17.2 internal Audit Reports,if any
17.3 Reports of other auditors,if any
18 Accounting Standard Verification

Verify applicability accounting

18.1 standards in preparation and
presentation of books of account and
financial statements.

18.2 Whether Proper disclosures have been

made in the financial statements as
required by Ass issued by company
(Accounting Standard Rules)2006
19 External Confirmation

Whether the evidence or confirmation

19.1 of the ledger balances has been
obtained from outside parties regarding
-bank
balances,loans,debtors,creditors,etc.
20 Miscellaneous
20.1 review events after the balance sheet
date

Review the terms of debentures & loan

20.2 agreement and determine whether any
have been breached.
20.3
Review the minutes of the meetings.

20.4 Consider entity's position concerning

unfulfilled customer order.

20.5 Disclosure of non- recurring or unusual

items of income & expenditure.

Proper disclosure of matters required

20.6 by law or international Accounting
Standards.

20.7 Whether accounting estimate is

reasonable and appropriately disclosed
in the financial statement

20.8 Whether any evidence is contradicatory

with the representation of the
management ?
20.9 Whether the transcations is prejudical
to the interest of the company ?
20.10 Is disclosure regarding MSMED
Act ,2006 made ?
20.11 Whether Chapter-VI deduction taken
correctly ?
21 Final Financial Statements

21.1 Checking of total of schedule & details

& tallying with relevant schedules of
financial statements for current as well
as previous year.

Whether all the events up to the date

21.2 of auditors's report that may require
adjustements of,or disclosure in the
financial statement have being
identified ?

21.3 Are all Accounting policies compliant to

Accounting Standards and are disclosed
properly and followed accordingly ?

21.4 Are all Accounting Standards Complied

with and relevant disclosure made ?
21.5 Verifying confirmations,Letter &
certificates.

21.6 Verifying reconcilliation of inter branch

transcations and transcations with
group/sister concerns
21.7 Verification final trial balance with
Financial Statements.

Are fundmental accounting

21.8 assumptions follwed in preparing
financial statements
viz.,consistency,going concern and
accural

21.9 Verifying Notes to the Accounts-

neccesary disclosures as per Schedule
VI and Accounting Standards.

21.10 Comparing figures of the current year

with the figures of previous year.
21.11 Checking items of P&L,B/S supporting
statements.
 21.12 Verifying computation of taxable
Income
21.13 Drafting of Auditor's Report
22 Conclusion

22.1 Review of the work performed by each

assistant by the senior in charge.
22.2 Second review done by
22.3 Finalished by name of the person
22.4 Finalized on (date)
22.5 signed on

Details Of Statutory Dues Verification

Actual date- Due Actual

Dues relate to Due date -deposit of tax
deposit of tax date Return
return

Amoun Date of Amoun

Due date t Deposit t

TDS/TCS 07.04.20XX
07.05.20XX
07.06.20XX
07.07.20XX 15.07.20XX
07.08.20XX
07.09.20XX
07.10.20XX 15.10.20XX
07.11.20XX
07.12.20XX
07.01.20XX 15.01.20XX
07.02.20XX
07.03.20XX
07.04.20XX
31.05.20XX 15.06.20XX
VAT/CST

Service Tax

25.10.20XX

25.04.20XX
Wealth tax

ESI/PF

ROC

Form 23AC/ACA
form 20B
form 66
form No. 5
Form no. 2
Form No. 32
Form No.18
 Time taken
2

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Date
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