Internal Audit Accounts

8/15/2019 Internal Audit Accounts

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Name of Co:

Name of ocial incharge:

Name of A/c in charge:

Period Covering from :

ACCOUNTS DEPT

A Cash Vouchers \ Bank Voucherso Appllicable

o Not applicable

•

Conrm authori!ation of Cash Vouchers \ BankVouchers b" a responsible person#

• Conrm supporting Bills / $nvoices to such

vouchers

• Conrm the correctness of the accounting head %

e&pense / income

• Conrm for cash receipts signature

/ackno'ledgement of cash recd#

•

Conrm that all the relevant columns of the Cash/bank vouchers have been properl" lled in#

• Conrm that pa"ments are made onl" against

original supportings#

B Purchase Voucherso Appllicable

o Not applicable

• Conrm authori!ation of Purchase Vouchers b" a

responsible person#

• Conrm the Purchase Voucher 'ith the supporting

documents like Bill / $nvoice and the (oods )eceived

Note*()N+#

• Conrm 'hether the rates given in the purchase

invoices are as per the purchase ,rders

raised/amendments to the Purchase ,rders/ approved

b" an appropriate authorit"#

• Conrm 'hether pa"ment has been made/Bill

passed for re-ected .uantit" of material as per the

())#


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• Conrm 'hether a proper accounting head

e&pense has been debited#

• Conrm that all the relevant columns of the

Purchase Vouchers have been properl" lled in#

• Conrm that the PV is passed as per the terms

given in the Purchase ,rders#

• Conrm that the purchase voucher is prepared

onl" in respect of original Bills / $nvoices# ( Photocopies

of invoices \ duplicate invoices should not be passed+#

• Conrm that the Bills / invoices are passed strictl"

as per the P, terms#


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C 0ournal Voucherso Appllicable

o Not applicable

• Conrm authori!ation of 0ournal Vouchers b" a

responsible person#

• Conrm the 0ournal vouchers 'ith supporting

Bills / $nvoices /documents#

• Conrm that supporting documents are dul"

approved b" an appropriate authorit"#

• Conrm the correctness of the accounting head

debit / credit#

• Conrm that all the relevant columns of the

-ournal vouchers have been properl" lled in#

• $n case of contractors bills Conrm that bills

submitted b" the contractors are supported b" the

1ork ,rders issued in advance to the contractors# No

bill should be passed unless supported b" a/ 1, and

the value of the Bill should be in agreement 'ith the

1, prepared# Conrm that the 1ork ,rders are

prepared in advance before the start of the 'ork#

• Conrm that the bills of the contractors are dul"

approved and certied for pa"ment b" the person

responsible for getting the 'ork done i#e the user# Allthe bills must have 2Approved3 for pa"ment in 'riting

b" the user on the face of the bill#

• Conrm that all the supporting bills / invoices to a

-ournal voucher are approved / certied for pa"ment

b" the 4ser 5epartment# 6he user 5epartment should

specicall" put a remark on the bill for approval\

pa"ment#

• $n case of contract -obs relating to labour suppl"

the bills are to be supported b" attendance sheets dul"

certied b" the 6ime ,ce#

• $n case of transporters bills Conrm the bills 'ith

the agreed rates and receipted copies of consignment

notes#

• Conrm the measurement books in case of bills for

civil 'ork and ensure that the 7easurement books are

signed and Conrmed b" the 8ngineer in charge of the

1ork#


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• $n case of running and nal bills for civil 'ork

Conrm that the civil engineer has Conrmed and

veried the measurements and entries of all running

and nal bills are made in the 7easurement Books#


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5 Advance to 8mplo"eeso Appllicable

o Not applicable

• Conrm the 6rial balance in respect of Advance to

emplo"ees to ascertain the amount outstanding in thename of each emplo"ee# 9ind out the date since 'hen

the advance is outstanding to be settled and make a

list if emplo"ees advances that have not been settled

for a long period#

• 8nsure that no further advance is given to an

emplo"ee unless the previous outstanding advance is

cleared b" him#

• Advance to an emplo"ee ma" be to'ards

6ravel / ,cial 'ork\ loan or a salar" advance# 8nsure

that the recover" is made from the salar" of theemplo"ee 'hen the advance taken b" the emplo"ee is

not settled b" him 'ithin a reasonable period#

• 9urther Conrm that the recover" of installments

in respect of loan / salar" advance is made correctl"

on monthl" basis from the salar" of the emplo"ees#

• Conrm and make a list of emplo"ees 'ho have

left the compan" and their full and nal settlements

have not been made but debit balances are still

appearing in their names in the Advance to emplo"ees

account#

8 Conrmation of Balanceso Appllicable

o Not applicable

• Conrmation of balances 'ith the banks \ ending

institutions should be obtained on a monthl" basis for

the purpose of preparation of bank reconciliation

statements#

• Conrmation of balances 'ith the Creditors /

5ebitors should be obtained on a si& monthl" basis#

6he balances in the Creditors\ 5ebtors edger accountshould also be reconciled 'ith the balances as per the

part";s books on a si& monthl" basis#

9 5ebtors edger 6rial Balance \ 5ebtors edgeraccount

o Appllicable

o Not applicable

• Conrm that the balance sho'n b" the 5ebtors

edger 6rial balance agrees 'ith the balance sho'n b"

the 5ebtors control account in the (eneral edger 6rial

balance#


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• Conrm the Age'ise anal"sis of da"s#

• ist the 5ebtors Accounts that are stuck up for

long and are doubtful of recover"# *Above ?@> da"s+

• Conrm the debtors accounts 'here legal cases

have been led / are to be led and ascertain the

progress in the legal cases#

• Carr" out a scrutin" of various 5ebtors Account in

the debtors ledger and Conrm for 6all"ing of each

debit 'ith a corresponding credit to locate an" under

pa"ment / over pa"ment for an" invoices#


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( Creditors edger 6rial Balance/Creditorsedger Account

o Appllicable

o Not applicable

•

Conrm that the balance sho'n b" the Creditorsedger 6rial Balance agrees 'ith the balance sho'n b"

the Creditors control account in the (eneral ledger trial

balance#

• Conrm no


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7 (eneral edger 6rial Balance / )evenue ledger 6rial Balance

o Appllicable

o Not applicable

•

Carr" out a scrutin" of the (eneral edger 6rialbalance/)evenue ledger 6rial balance and comment on

accounts that need to be reconciled like inter oce

account / $nter unit account etc#

• $n case of accounts like 65< )eceivable / $nterest

)eceivable/ $nsurance claim )eceivable / 7argin

mone" deposit conrm having veried the break up /

detailed statements of accounts#

• $n case of Creditors / 5ebtors account Conrm that

the amount as given in the (eneral ledger agree 'ith

the balance sho'n b" the Creditors ledger 6rialbalance/ 5ebtors ledger 6rial balance#

• $ncase an" special accounts like suspense

account etc are appearing in the trial balance furnish

details#

• $n case of other accounts need revie' of the ledger

of the account to locate an" irregularit" /

reconciliation matter list the same:

Prepared b":

Documents

Internal Audit Accounts