In this article we will discuss about the internal check system of auditing for various transactions:- 1. Cash Sales 2. Credit Sales 3. Cash Purchases 4. Credit Purchases 5. Wages Sheet Preparation 6. Payment of Wages 7. Discounts and Rebates to Customers 8. Sales Returns 9. Settlement of Claims against Suppliers 10. Cash Receipts 11. Cash Payments 12. Petty Cash [...]
Here is a compilation of essay topics on ‘Auditing’ especially written for commerce students. 1. Essay Topic on Auditing (Proprietor Audit): Q. What is sole proprietor audit? State its advantages. Ans. The audit examination of the books of account of a sole trader or proprietor, which aims at: (i) Ascertaining the true and fair view of the state of affairs [...]
In this article we will discuss about various internal control questionnaires for audit areas. 1. Purchases and Creditors: At purchase department: 1. (a) Is the department separate and organised centrally? (b) Is it independent of Receiving and Accounts departments? 2. (a) Are purchases made only from approved? Suppliers? If so, is there any list? If not, why not? (b) Is [...]