Done
0
N/A
0
Pending
28
Verify Property, Plant & Equipment additions with invoices and approvals
Physical verification of Fixed Assets on sample basis
Review depreciation calculation as per Companies Act / Income Tax Act
Verify opening balances with previous year audited financials
Perform bank reconciliation and verify with bank statements & confirmations
Verify inventory valuation and physical stock count sheets
Obtain trade receivables balance confirmations and ageing analysis
Obtain trade payables balance confirmations and ageing analysis
Verify secured & unsecured loan balances with loan statements
Verify share capital, reserves and surplus movement
Vouch revenue with invoices, contracts and cut-off testing
Analytical review of revenue trends month-wise and product-wise
Verify purchases with GRN, invoices and purchase orders
Test employee cost with payroll register, attendance and statutory dues
Verify finance cost with loan statements and TDS deduction
Scrutiny of expense ledgers for unusual / non-recurring items
Verify related party transactions and disclosures
Verify timely payment and return filing of GST
Verify TDS deduction, deposit and quarterly return filing
Verify PF & ESI payment and returns
Verify compliance with Companies Act – board meetings, ROC filings
Review compliance with applicable Ind AS / Accounting Standards
Verify income tax advance tax payments and tax computation
Obtain written management representation letter
Review of internal financial controls and audit trail (Rule 11(g))
Subsequent events review up to date of signing
Going concern assessment based on cash flows and forecasts
CARO 2020 reporting checklist verification