Audit Planning

S. NO. 1 2 3 4 5 6 7 8 PARTICULAR cash and bank Sales purchase Vouching and Verification Fixed assets Loans and advances Expenses Deposits

cash and bank S.No. PROVISIONS 1 Check wheather the payment is more than 20000 Rs or not 2 Reconciliation of monthly expenses incurred in cash (variation in amount) 3 4 5 6 7 8
Also produce bank statements and details of subsequent dates of clearance of cheques pending in BRS at the year end. Produce copies of FDRs and statements of interest workings. Also confirm that are there any new bank accounts opened during the period if so produce copies of Board Resolution authorizing the same. If any Petty cash account is maintained than provide reconciliation statement for it, if there is any deviation than state the reason for same Provide the list of stale cheques standing in books. (3 months) Whether the unsigned cheques books is crossed or kept in the lock by taking proper consent from management.

Sales S.No. PROVISIONS 1 Sales vs exise reconciliation 2 Sales vs vat reconciliation Monthly reconciliation and check any variation 3 between monthly sales 4 Ageing of debtor

purchase S.No. PROVISIONS 1 purchase vs vat reconciliation. 2 purchase vs cst reconciliation. 3 ageing creditors.

Vouching and Verification S.No. 1 2 3 4 PROVISIONS check journal,purchase,receipt vouchers on sample basis check whether supporting is attached with journal,purchase,receipt vouchers. verify each and every transaction and check whether neccesary verify entry made in ledger and check the authentication of the

Fixed assets S.No. 1 2 3 4 5 PROVISIONS Check FAR with depreciation schedule Check there is any purchase of fixed assets during the year Fixed assets are properly recorded at cost/valuation The fixed assets physically exist. The procurement of the fixed assets is properly done based on

Loans and advances S.No. 1 2 3 4 5 PROVISIONS check the terms and conditions on which loans and advances are given or taken check interest calculation check whether loans and advances taken from any directors or relative of director. check approval of sh.holder in G.M related to the loans and advances check whether loans and advances are secured or unsecured.

Expenses S.No. PROVISIONS 1 Produce break-up for Manufacturing Expenses. 2 Provide the Trial balance of manufacturing Expenses. 3 Produce relevant agreements with the parties which are not covered above.
Provide the detail note on the Expenses incurred in period as well as in preceding

4 financial year under the head Manufacturing Expenses. 5 Provide the budget prepared for the financial year for manufacturing expenses.
Whether the manufacturing work is on contract, if yes, please provide the copy of

6 agreement. 7 Produce Rental agreements and ledger copy.

Produce donation receipts if any which are eligible for deduction U/s. 80G of Income Tax

8 Act, 1961 9 Provide the list of assets placed in office premises. 10 Produce break-up of Finance Charges along with detailed workings for interest charged. 11 Whether there is any default in making the payment of interest or other dues?

Deposits S.No. PROVISIONS 1 Produce copies of deposit receipts. 2 Produce corresponding agreements for such deposits. 3 Produce confirmation copies.