how will u check the account receivables and cash balances
while doing audit
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Answer / shubha
Cash balance should be checked by physical verification. If
it is not feasible physical verification should be carried
out on a surprise basis any time shortly before or after the
balance sheet date. Surprise verification should also be
carried out.
| Is This Answer Correct ? | 11 Yes | 2 No |
Answer / mr. roshan dahal
Account Receivable means Debtors should be checked by
confirmation from third party and also to be reported based
on their period.
some times scrutiny on Sample basis of Receivables will
fetch us few area where mistakes or wrong posing will be
traced.
even comparision with previous year will also help.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / dharmesh sati
Cash balance should be checked by physical verification. &
Receivable should be checked by confirmation from Customer.
| Is This Answer Correct ? | 6 Yes | 0 No |
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