Audit Program for In depth Scrutiny of Ledgers – An Analysis

Audit Program for In depth Examination of Ledgers Inspect Compete Audit Program for Analysis of Various Journals like– Examination of Debtors, Analysis of Financial institutions, Scrutiny of Fixed Assets and Devaluation, Examination of Fixed Deposits, Scrutiny of Guaranteed loans/Term loans/Cash Credit, Director’s Account Examination, Analysis of Other Assets, Examination of Investments, Scrutiny of Loans and Advances Offered and so on. Now you can scroll down below n check more details concerning ” Audit Program for In depth Scrutiny of Ledgers”

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Audit Program for In depth Examination of Ledgers

Debtors Analysis

  • Examine whether discount enabled is correctly tape-recorded.
  • Incase of sales return, validate the proper reversal of VAT, if required and its inventory accounting
  • Examine that the balance revealed by the Debtors Journal Trial balance concurs with the balance shown by the Debtors control account in the General Journal Trial balance.
  • Inspect the Age-wise analysis of Sundry Debtors and comment upon it.

    Creditors Examination

  • Inspect whether discount rate gotten is properly taped.
  • Inspect the accounting entry for purchase return.
  • Check the duration for which the quantity is outstanding.

    Examination of Fixed Assets and Depreciation

  • Check whether the rates for devaluation are appropriate and also whether it has actually been correctly computed.
  • Whether the asset has actually been capitalized effectively.
  • Whether the asset has actually been gone into in the fixed asset register
  • Fixed Depo sits

    • Fix up the amount with FD certificate.
    • Ask for 16- A & examine whether TDS have been correctly subtracted by bank.
    • Fix up the TDS deducted with 26 AS declaration.
    • Collect Form 16- A for your record.

    Protected loans/Term loans/Cash Credit.

    • Acquire the Statement of Accounts from the financier Bank/ Institution
    • Acquire interest certificate regarding compare to the balance in the Books.
    • If the loans are gotten from Directors/ Shareholders, get certificate that the exact same is not given out of obtained funds.
    • Balance, Additions, Repayment, interest credited, Tax Deducted and any other
    • Adjustments, so regarding agree with the overall opening and total closing balance and optimum outstanding throughout the year.

    Also Examine Appropriate Parts of This post:-

    • Audit Program for Vouching and confirmation of Deal
    • Audit Program– A Comprehensive Audit Program

    Director’s Account Scrutiny

    • Inspect the transactions that have occurred through the directors personal account.
    • Verify the computation of directors remuneration consisting of the quantity of the TDS Deducted.
    • See that the individual expenses have been debited to illustrations accounts

    Scrutiny of Other Properties

    • Investigate about how the closing balances have actually been acquired.
    • Check the Costs for any brand-new purchases which were made during the year.


    • Information of Investments at the Year end
    • Inspect the earnings accrued on the Investments
    • Disclosure requirements under Arrange III.


  • Fix up the physical/ book items of inventory showing opening balances, purchases, provided for consumption/sales, short & excess and closing Stock with the Import Tax Records.
  • trace the discrepancies if any from the method of appraisal of Stock, purchases, sale according to section 145 A of the Income Tax Act.
  • According to the arrangements of the stated area all duties, cess, taxes and levies are to be Included at the first circumstances in the said items including provisions for import tax task on closing stock of ended up items.

    Loans and Advances Provided

  • Examine the Compliances as per Para 8( B) above.
  • Obtain the information of Due from directors with optimum outstanding during the year
  • Guarantee appropriate disclosure is made w. r. t. security elements.

    Provision for Tax

    • Guarantee the tax supplied according to the tax Laws applicable at the date of balance Sheet
    • Make sure that provision for tax is made in accordance with the AS-22″ Deferred Tax”
    • Guarantee that Arrangements u/s 115 JB MAT is likewise considered.

    Other Earnings

    • Interest Income associate the same with TDS receivable for the year.
    • Insurance Claims got.
    • Commission Income

    Obtain the documentary proof, Agreements, and estimation of commission and their recognition in the Accounts.

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