{"id":5041,"date":"2022-10-04T11:29:53","date_gmt":"2022-10-04T11:29:53","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=5041"},"modified":"2024-08-19T19:05:58","modified_gmt":"2024-08-19T19:05:58","slug":"statutory-audit-programme-sample","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/","title":{"rendered":"BASIC STATUTORY AUDIT PROGRAMME SAMPLE\u00a0"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5042\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/AUdit-.jpg\" alt=\"Audit \" width=\"914\" height=\"457\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69dd02a595cc8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69dd02a595cc8\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#BASIC_STATUTORY_AUDIT_PROGRAMME_SAMPLE\" title=\"BASIC STATUTORY AUDIT PROGRAMME SAMPLE\u00a0\">BASIC STATUTORY AUDIT PROGRAMME SAMPLE\u00a0<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#Name_of_the_Client\" title=\"Name of the Client\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \">Name of the Client\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#Reporting_Period\" title=\"Reporting Period\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \">Reporting Period\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#Business_of_entity\" title=\"Business of entity\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \">Business of entity\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#Objective\" title=\"Objective-\">Objective-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#Procedure_for_Audit\" title=\"Procedure for Audit-\">Procedure for Audit-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#A_Understand_the_business_of_Auditee\" title=\"A.\u00a0 Understand the business of Auditee\">A.\u00a0 Understand the business of Auditee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#B_Performing_of_Audit_Procedures\" title=\"B. Performing of Audit Procedures\">B. Performing of Audit Procedures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#2_Existence_and_Efficiency_of_Internal_Controls\" title=\"2. Existence and Efficiency of Internal Controls?\">2. Existence and Efficiency of Internal Controls?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#3_Verification_of_Balance-Sheet_Items\" title=\"3.\u00a0 Verification of Balance-Sheet Items?\">3.\u00a0 Verification of Balance-Sheet Items?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#4_Bank_reconciliation\" title=\"4.\u00a0 Bank reconciliation?\">4.\u00a0 Bank reconciliation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#5_Tax_Deducted_At_Source\" title=\"5.\u00a0 Tax Deducted At Source?\">5.\u00a0 Tax Deducted At Source?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#_6_Fixed_Assets\" title=\"\u00a06. Fixed Assets?\">\u00a06. Fixed Assets?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#7_Verification_of_Profit_Loss_Accounts_Items\" title=\"7.\u00a0 Verification of Profit &amp; Loss Account&#8217;s Items?\">7.\u00a0 Verification of Profit &amp; Loss Account&#8217;s Items?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#8_Human_Resource_Department\" title=\"8.\u00a0 Human Resource Department?\">8.\u00a0 Human Resource Department?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.caindelhiindia.com\/blog\/statutory-audit-programme-sample\/#Companies_eligible_for_internal_Audit\" title=\"Companies eligible for internal Audit\">Companies eligible for internal Audit<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"BASIC_STATUTORY_AUDIT_PROGRAMME_SAMPLE\"><\/span><span style=\"color: #000080;\"><strong><u>BASIC STATUTORY AUDIT PROGRAMME SAMPLE\u00a0<\/u><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong><u>Introduction-<\/u><\/strong><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Name_of_the_Client\"><\/span><strong>Name of the Client\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Reporting_Period\"><\/span><strong>Reporting Period\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Business_of_entity\"><\/span><strong>Business of entity\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h3><span class=\"ez-toc-section\" id=\"Objective\"><\/span><span style=\"color: #000080;\"><strong><u>Objective-<\/u><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The purpose of this programme is to develop a Risk-Based Audit Programme that provides a basis for the orderly, efficient, and cost effective conduct of the audit as well as a criteria base for assessment.<\/p>\n<p>The main objective of this program is to provide guidance in respect to-<\/p>\n<ul>\n<li>Review financial and performance reporting of the entity<\/li>\n<li>Review controls and processes of entity in terms of due diligence and efficiency.<\/li>\n<li>Review controls required to ensure that resources are used efficiently and that payments and repayments occur in a timely manner.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Procedure_for_Audit\"><\/span><span style=\"color: #000080;\"><strong><u>Procedure for Audit-<\/u><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In accordance with the audit objectives and Standards on Auditing issued buy ICAI, the audit was carried out in three phases:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5043\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/STATUTORY-AUDIT...jpeg\" alt=\"STATUTORY AUDIT..\" width=\"1280\" height=\"523\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/STATUTORY-AUDIT...jpeg 1280w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/STATUTORY-AUDIT..-300x123.jpeg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/STATUTORY-AUDIT..-1024x418.jpeg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/STATUTORY-AUDIT..-768x314.jpeg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/STATUTORY-AUDIT..-800x327.jpeg 800w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5328\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/statutory-audits-services-ai01pngtr9nwecr.png\" alt=\"statutory-audits\" width=\"2936\" height=\"2161\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/statutory-audits-services-ai01pngtr9nwecr.png 2936w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/statutory-audits-services-ai01pngtr9nwecr-300x221.png 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/statutory-audits-services-ai01pngtr9nwecr-1024x754.png 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/statutory-audits-services-ai01pngtr9nwecr-768x565.png 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/statutory-audits-services-ai01pngtr9nwecr-1536x1131.png 1536w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/statutory-audits-services-ai01pngtr9nwecr-2048x1507.png 2048w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/statutory-audits-services-ai01pngtr9nwecr-800x589.png 800w\" sizes=\"(max-width: 2936px) 100vw, 2936px\" \/><\/p>\n<table width=\"918\">\n<tbody>\n<tr>\n<td width=\"768\"><strong>AUDIT STEPS TO BE COMPLETED<\/strong><\/td>\n<td width=\"150\"><strong>COMPLETED BY<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"A_Understand_the_business_of_Auditee\"><\/span><strong>A.\u00a0 <span style=\"color: #000080;\">Understand the business of Auditee<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">Business of the entity can be understood through:<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If this is a repeat audit, review the Permanent File and prior working papers, including policies\/procedures, organizational charts, agreements, etc otherwise working papers of any other entity engaged in similar industry can be reviewed.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Conduct pre-audit interview with auditee and document discussions held.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Conduct audit planning meeting with Audit Manager and\/or Director and document discussion held.\u00a0 The following should be discussed:<\/p>\n<p style=\"padding-left: 40px;\">\u00d8\u00a0 Timing of fieldwork<\/p>\n<p style=\"padding-left: 40px;\">\u00d8\u00a0 Risk areas \/ internal controls<\/p>\n<p style=\"padding-left: 40px;\">\u00d8\u00a0 Audit objectives<\/p>\n<p style=\"padding-left: 40px;\">\u00d8\u00a0 Management structure of Auditee<\/p>\n<p style=\"padding-left: 40px;\">\u00d8\u00a0 Business Procedures etc.<\/p>\n<\/td>\n<td style=\"padding-left: 40px;\" width=\"150\">\n<p style=\"padding-left: 40px;\"><strong>\u00a0<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"B_Performing_of_Audit_Procedures\"><\/span><span style=\"color: #000080;\"><strong>B. Performing of Audit Procedures<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\"><strong>1. Compliance with Applicable Laws &amp; Regulations-<\/strong><\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">Company is engaged in Travel Agency and Tour operating business. Main applicable laws are as under-<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Finance Act, 1994 : Service Tax<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/www.caindelhiindia.com\/blog\/in-out-of-e-tds-challan-26qb-income-tax-dept\/\"> Income Tax Act, 1961<\/a><\/span><\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 FEMA and other RBI compliances<\/p>\n<p><strong>Following are the points needed to be verified-<\/strong><\/p>\n<ul>\n<li>Whether service tax has been charged duly from all the customers?<\/li>\n<li>Whether <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/carajput.com\/blog\/understanding-on-tax-deducted-at-source-tds\/\">TDS<\/a><\/span> has been deducted from requisite expenses as per relevant sections?<\/li>\n<li>Whether payment of taxes are made duly in the account of Government?<\/li>\n<li>Whether respective tax returns have been filed on or before due dates?<\/li>\n<li>Is any tax liability needed to be discharged by auditee for which no action has not been taken by auditee till now?<\/li>\n<li>Whether all the defined procedures have been followed in making or receiving payments?<strong style=\"font-family: inherit; font-size: inherit;\">\u00a0<\/strong><\/li>\n<\/ul>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"2_Existence_and_Efficiency_of_Internal_Controls\"><\/span><span style=\"color: #000080;\"><strong>2. Existence and Efficiency of Internal Controls?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\"><strong>Auditee&#8217;s controls are to be verified on following aspects-<\/strong><\/p>\n<ul>\n<li>Sales Department<\/li>\n<li>Recovery of Revenue System<\/li>\n<li>Existence of contracts with Airlines\/Shipping Lines for Tour Management<\/li>\n<li>Procedure involved in Foreign Currency Transactions<\/li>\n<li>Planning and Budget system for Tour Management<\/li>\n<\/ul>\n<p><strong>Observation must comprise the following components-<\/strong><\/p>\n<ul>\n<li>Whether the Controls are in existence?<\/li>\n<li>Whether they are adequate?<\/li>\n<li>Whether they are operating effectively and efficiently?<strong style=\"font-family: inherit; font-size: inherit;\">\u00a0<\/strong><\/li>\n<\/ul>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"3_Verification_of_Balance-Sheet_Items\"><\/span><span style=\"color: #000080;\"><strong>3.\u00a0 Verification of Balance-Sheet Items?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<ul>\n<li>Whether last year&#8217;s closing balances are tallying with opening balances of current year?<\/li>\n<li>Physical verification of Fixed Assets and Cash<\/li>\n<li>Bank Reconciliation<\/li>\n<li>Whether any unusual fluctuation is observed in any of the balance-sheet item?<\/li>\n<\/ul>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"4_Bank_reconciliation\"><\/span><span style=\"color: #000080;\"><strong>4.\u00a0 Bank reconciliation?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Validation of Bank Reconciliation statement with trial balance.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Verification of Bank balances with that of Confirmation Certificate.<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"5_Tax_Deducted_At_Source\"><\/span><strong>5.\u00a0<span style=\"color: #000080;\"> Tax Deducted At Source?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Ensure that Tax has been deducted on payments made to professionals &amp; contractors.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Ensure that Tax has been deducted on salaries.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Ensure that TDS has been properly deducted at specified rates &amp; deposited on time.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 TDS should be checked with the Challans of four Quarters along with the form 27 A, 24Q&amp; 26 Q.<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"_6_Fixed_Assets\"><\/span><span style=\"color: #000080;\"><strong>\u00a06. Fixed Assets?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of additions made during the year.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Verification of calculation of depreciation charged during the year.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of any sale of assets or scrap, if any.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Physical verification for existence.<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"7_Verification_of_Profit_Loss_Accounts_Items\"><\/span><strong>7.\u00a0<span style=\"color: #000080;\"> Verification of Profit &amp; Loss Account&#8217;s Items?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\"><strong>Special consideration is to be given on following items-<\/strong><\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Income from tour booking<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Income from hotel accommodation booking<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Commission from various companies<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Tour Expenses<\/p>\n<p>Special focus on statutory transactions<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\n<h3><span class=\"ez-toc-section\" id=\"8_Human_Resource_Department\"><\/span><strong>8.\u00a0 <span style=\"color: #000080;\">Human Resource Department?<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"768\">\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Verification of attendance records.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Verification of staff member\u2019s appraisals at the end of the financial year 2014-15.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking the Leave records from staff member\u2019s personal files. Ensured that leave has been taken with prior approval from appropriate authority.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of monthly salaries with salary paid register &amp; reconciliation with books of accounts.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of New joinees records i.e. interview results, resume, education qualification, Medical certificate from MBBS Doctor Etc.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of resigned or terminated staff members records i.e. resignation letter, full &amp; full and final settlement letter \/ No due clearance certificate, deposit of notice pay, etc, &amp; also checking of approval from chairman etc.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of proper PF deduction &amp; due dates of deposition of same under the PF department.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of monthly salaries with salary paid register &amp; reconciliation with books of accounts.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of resigned or terminated staff members records i.e. resignation letter, full &amp; full and final settlement letter \/ No due clearance certificate, deposit of notice pay, etc.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Checking of deduction &amp; deposition of Administrative charges under the PF Act has been properly allocated &amp; accounted under their respective unit ledger account.<\/td>\n<td width=\"150\"><strong>\u00a0<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6292\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-19.jpg\" alt=\"audit 2\" width=\"973\" height=\"1280\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-19.jpg 973w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-19-228x300.jpg 228w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-19-778x1024.jpg 778w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-19-768x1010.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-19-800x1052.jpg 800w\" sizes=\"(max-width: 973px) 100vw, 973px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6291\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-24.jpg\" alt=\"audit 2\" width=\"972\" height=\"1280\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-24.jpg 972w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-24-228x300.jpg 228w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-24-778x1024.jpg 778w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-24-768x1011.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-24-800x1053.jpg 800w\" sizes=\"(max-width: 972px) 100vw, 972px\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6290\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-31.jpg\" alt=\"Audit \" width=\"1063\" height=\"585\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-31.jpg 1063w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-31-300x165.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-31-1024x564.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-31-768x423.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/photo_2023-10-01_22-16-31-800x440.jpg 800w\" sizes=\"(max-width: 1063px) 100vw, 1063px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Companies_eligible_for_internal_Audit\"><\/span><span style=\"color: #000080;\">Companies eligible for internal Audit<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-7743\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/IA.jpg\" alt=\"Companies eligible for internal Audit\" width=\"924\" height=\"764\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/IA.jpg 796w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/IA-300x248.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/10\/IA-768x635.jpg 768w\" sizes=\"(max-width: 924px) 100vw, 924px\" \/><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>BASIC STATUTORY AUDIT PROGRAMME SAMPLE\u00a0 Introduction- Name of the Client\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Reporting Period\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Business of entity\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Objective- The purpose of this programme is to develop a Risk-Based Audit Programme that provides a basis for the orderly, efficient, and cost effective conduct of the audit as well as a criteria base for assessment. The main objective of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[98],"tags":[562],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5041"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=5041"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5041\/revisions"}],"predecessor-version":[{"id":7744,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/5041\/revisions\/7744"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=5041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=5041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=5041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}