What is the importance of Stock Audit, Accounting Audit

Answer Posted / yogesh

stock audit important because in statutory audit report u/s
227 and under CARO 2003 auditory has to answer whether
their proper system for verification and proper valuation
of the inventories otherwise it will spoil whole purpose of
Financial Statement.

Is This Answer Correct ?    7 Yes 3 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Explain how to do an internal audit effectively?

753


Why there is no opening balance for Profit and Loss Account?Refer me Detailed explanation. Thank you.

1106


What is the mean of statutory audit?

809


What is final audit?

782


vat on liquor vat on food ? vat on bevrages ? vat on tobaco? vat on gold?

1873






What is the difference between internal audit and statutory audit?

769


What is non statutory audit?

757


promotions of a new apointed auditor in cgda.

2060


what supporting documents do we vouch to for sales, purchases, receivables, payables, sales cutoff, and liabilities cutoff?

6120


What do you know about KPMG?

4337


What are the objectives of internal audit?

833


How auditing is prepared?

2034


what is the difference you can make by doing your course in the country of your choice

2029


What is pr ? why it is prepared and what is its purpose ? who is responsible for preparing it ? And on any fault in it who is liable ? And what will happen if fault comes ?And What are major reasons of fault ?

2423


What is vouching?

720