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List of Schedules for Audit

List of Schedules for Audit

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Published by api-3705645
List of schedules for audit
List of schedules for audit

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Published by: api-3705645 on Oct 15, 2008
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03/18/2014

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List of Schedules required for Audit
1.
FIXED ASSETS
\u2022
Details of additions during the period
\u2022
Details of assets sold / written off during the period (including computation of
profit / loss on such sale / write off
\u2022
Assetwise details of Capital Work-In-Progress as on 31/03/2006
\u2022
Main asset groupwise summary and working of depreciation on fixed Assets for
the period
\u2022
Insurance details of assets giving period and insured amounts
\u2022
Confirmations from third parties with whom assets are lying (e.g. assets at
residence of employees)
\u2022
Duly updated Fixed Assets Register containing all required details
\u2022
Physical Verification Report
\u2022
Capitalisation of finance lease (AS-19)
\u2022
Capitalisation of borrowing costs on qualifying assets, if any
2.
INVENTORIES
\u2022
Summary of stock as on 31/03/2006 for RM/WIP/FG/Stores & Spares
\u2022
Bill of Materials for major products sold during the period
\u2022
Details of calculations for rates applied to valuation of raw material vis a vis rates
of previous period
\u2022
Valuation of work-in-progress and finished goods and basis for the same, including
overhead calculation for current and previous period
\u2022
Details of stock written off, obsolete / unsaleable stocks with approvals
\u2022
Ageing analysis of all categories of inventories
\u2022
Details of Net Realisable value, incase of finished goods
\u2022
Quantitative information as required under Schedule VI
1. Opening stock, production, turnover, closing stock \u2013 productwise quantities and

values;
2. Productwise raw material consumption;
3. Details of imported and indigenous raw material consumed and percentage to

total
\u2022
Details of Goods in transit
\u2022
Details of Excise duty on finished goods and customs duty on imported goods in
transit
3.
DEBTORS
\u2022
Agewise break-up of debtors as on 31/03/2006 - sub-ledger duly reconciled with
the General Ledger control account.
\u2022
Details regarding subsequent receipts from debtors upto the nearest date of
audit.
\u2022
An explanatory note on individual debtors balances outstanding for more than
six months
\u2022
Grossing up of debit and credit balances of debtors
\u2022
Details of bad debts written off, if any
\u2022
Computation of exchange gain / loss on conversion of foreign debtors as on
31/03/2005
\u2022
Balance confirmations from all Group Companies
List of Schedules required for Audit
4.
CASH AND BANK BALANCES
\u2022
Bank reconciliation statements for all bank accounts
\u2022
Confirmations from all banks in PW format for all balances with banks
\u2022
Details of deposits with banks, if any
\u2022
Period end conversion of account balances of forex accounts, if any
List of Schedules required for Audit
5.
LOANS AND ADVANCES
\u2022
Details of Prepaid Expenses as on 31/03/2006 showing payment voucher
reference, period for which it is prepaid, etc.
\u2022
Details of Claims Receivable as on 31/03/2006
\u2022

Details of short-term loans given to / taken from group / other companies during the period and balance outstanding thereof as on 31/03/2006 along with interest thereon.

\u2022
Details of T.D.S. certificates received from persons who have deducted such tax
during the period.
\u2022
Details of and age wise analysis of advances / loans to staff and interest deduction
on the same
\u2022
Confirmations from employees for all advances / loans
\u2022
Details of deposits placed with various parties with original receipts /
confirmations
\u2022

Working for amounts due from directors / officers of the company and
firms/private limited companies where director is partner/director and maximum
amount outstanding during the period

6.
CURRENT LIABILITIES
\u2022
Schedule of Sundry Creditors as on 31/03/2006 \u2013 sub-ledger duly reconciled with
general ledger control account. Grossing up of debit balances in creditors.
\u2022
Details of dues to small scale industrial undertakings including names of parties to
whom dues are outstanding for a period exceeding 30 days as at period end
\u2022
Confirmations from all group companies and foreign suppliers duly reconciled
with the books of account.
\u2022
Details regarding subsequent payments to creditors upto the nearest date of
audit.
\u2022
Subsequent payment dates of statutory and other liabilities with challan copies
7.
\u2022
Details of provision for expenses including details of :
-
Provision for bonus, gratuity, leave encashment, LTA (and basis thereof)
-
Warranty provision (including details of warranty expenses incurred against
earlier years\u2019 provision
\u2022
Details of advances given to suppliers and netting of the same against credit
balances of the respective suppliers.
\u2022
Details of foreign suppliers as on 31/03/2006 (using exchange rates prevailing as
on 31/03/2006)
\u2022
Details of liability for sales tax an on 31/03/2006 and sales tax assessment
position till date/set off, if any
\u2022

Working for provision for income tax for the period ended 31/03/2006 and income tax assessment status till date duly certified by company\u2019s tax Consultant.

\u2022
Agewise details of advances received from customers duly netted off against
outstanding balances
\u2022
Details of interest accrued but not due
\u2022
Working for unmatured finance charges, if any
\u2022
Details of liabilities no longer required written back

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