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Getting Started With Auditors Edition
Getting Started With Auditors Edition
ERP 9
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Version: Getting Started with Auditors Edition of Tally.ERP 9/Release 3.2/July 2011
Contents
Introduction
............................................................................................................................................................................. 1 ............................................................................................................... 2
2.1 Audit at CAs office by accessing local data 2.2 Audit at Clients place by accessing local data
3.1 Configuring Tally.NET features 3.2 Authorise Tally.NET Auditors 3.3 Create Security Controls
...........................................................................................................................21
............................................................................................................ 27
.....................................................................................................................................................27 4.1.1 Form 3CD ............................................................................................................................................. 36 ...........................................................................................................................................37 4.2.1 Audit Documentation ............................................................................................................................ 38 Audit Programme .................................................................................................................................. 38 Audit Working Paper ............................................................................................................................. 41 Accounting Standards Checklist ........................................................................................................... 47 Auditing and Assurance Standards Checklist ....................................................................................... 50 4.2.2 4.2.3 4.2.4 4.2.5 Data Analysis ........................................................................................................................................ 52 Auditing ................................................................................................................................................. 53 Audit Journals ....................................................................................................................................... 55 Financial Statements: ........................................................................................................................... 56 Schedule-VI Balance Sheet ................................................................................................................... 57 Schedule-VI Profit & Loss A/c Statement ............................................................................................ 59 ................................................................................................................................60
Introduction
Tally.ERP 9 offers a special Gold Auditors Edition, which provides Audit & Compliance capabilities, exclusively for Chartered Accountants. The Auditors Edition provides the following tools for Chartered Accountants:
These tools will help in retrieving the relevant information and present them in the required form to help the Auditor to form the opinion. Using Tally.ERP 9, Chartered Accountants can provide the Audit and Compliance services to their clients in the following three scenarios:
Audit at CAs office by accessing local data Audit at Clients place by accessing local data Audit Remotely by accessing Clients data from anywhere
On successful Activation of Tally.ERP 9 Auditors Edition, the Account ID/Email ID (main BAP username) provided during the Activation process is configured as a Tally.NET Auditor (having the Remote Audit & Compliance capabilities). The main BAP user can further create sub-users under him and configure them as Tally.NET Auditors to perform Audit from any where.
The Control Centre Login screen is displayed. Enter the Account ID/Email ID as it was entered during the License Activation in Your Email ID field In Your Tally.NET Password field, enter the Account Password sent by e-mail to you as shown:
The Account Password is Automatically generated during the Activation and sent by e-mail to the Email ID provided. You can change the Password by Logging into Control Centre.
Press
From the Control Centre screen, Select U: User Management and press Enter
User Management screen displays the list of Tally.NET Users and Tally.NET Auditors created by default. To create more users, go to the next Line and execute the following steps: Select Standard User under Security Level field from Security Level drop down list Enter the required Email ID (e.g. bapuser1@tallysolutions.com) in the Tally.NET ID field Set Tally.NET User field to No Set Tally.NET Auditor field to Yes Set Status field to Active
Security level: Default options are Standard and Owner. Standard User has limited permission and he cannot change his settings or create new users. Owner has full permission and he can create new users. Tally.NET ID: A valid Email ID should be entered in this field. Tally.NET User: This option should be set to Yes if you want the user to work as Tally.NET User. Tally.NET Auditor: This option should be set to Yes if you want the user to work as Tally.NET Auditor and have access to Audit & Compliance features. Status: The Status should be selected as Active for the user to work.
Press Enter to save the User (Tally.NET Auditor). Similarly, you can create more users.
The Password for bapuser1@tallysolutions.com will be emailed to the respective Email ID.
Press Enter on Alt+A or click on A: Add User Select the auditor from the List of Users from your own account or select Other User to add users from any other account. (each serial is treated as Account) Select the name of account in the Account Name field Select the required access type from the list of Access Type Allow All: Should be selected to delegate all companies which have authorised the auditor Allow Specific: Should be selected to further select the required Company for delegation Deny Specific: Should be selected to allow all company access, except the one for which access is denied.
Press Enter to accept and save. Press Alt+F1 to view the details of the Companies which are delegated for auditing as shown:
The delegated Companies cannot be further delegated by the sub articles. Tally.ERP 9 allows only one level of delegation.
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Tally.ERP 9 provides auditing and compliance capabilities exclusively for Chartered Accountants and makes the Audit and Compliance tools available in the following scenarios for the Chartered Accountants: Audit at CAs office by accessing local data Audit at the Clients place by accessing local data Audit Remotely by accessing the Clients data from anywhere
If the Clients company is not password protected, then you will have to make it password protected by enabling the security feature in the Company Master. (Gateway of Tally > Alt+F3 + Alter).
Tally.ERP 9 displays the Auditors License in the Information panel at the bottom of the screen and the Audit & Compliance menu is available by default, when the Auditor accesses the clients data from his local machine (where Auditors Edition of Tally.ERP 9 is installed). The Auditor can start using the Tax Audit, Statutory Audit and Statutory Compliance Tools.
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Specify the CA User Name (Remote User Name) and Password, as explained in the earlier chapter Type tallybapuser@tallysolutions.com in the Name of the User field Type the password in the Password field Press Enter
Once the Chartered Accountant logs in using his authorised (BAP) user name and password, Tally.ERP 9 displays the Remote Auditor Serial No along with the clients Tally.ERP 9 license Serial Number.
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The Auditor can fetch the Auditors Edition License on Educational version of Tally.ERP 9 also.
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the BAP username in the Your Email ID field Enter the password in the Your Tally.NET Password field
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Select the required Remote company and press Enter to Load the Company
The Remote Company selection screen displays the List of Remote Companies which have authorised the Chartered Accountant to access from a Remote location.
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You can view the Remote User details on the left side. The Information Panel displays the remote Serial Number for the Auditor (BAP User). You can click on Audit & Compliance menu to start experiencing the Power of Remote.
Remote Auditing can be performed successfully on the Educational Version of Tally.ERP 9 also.
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Tally.NET (to be read as TallyNET) is an enabling framework which establishes a connection through which the remote user (or Remote Auditor) can access the Client's data without copying / transferring the data. Tally.NET is a default feature of the product and provides a host of capabilities. By default Tally.NET is enabled in Tally.ERP 9, however, certain configurations have to be setup to get the company connected for the Remote Access. The following steps need to be executed at the Client of the required Company: 1. 2. 3. 4. Configuring Tally.NET features Authorise Tally.NET Auditors Security Controls for Tally.NET Auditors Connect Company to Tally.NET for Remote Access
In the Registration Details section, Type the required Connect name for the Company (e.g. Global Enterprises) in the Connect Name field (Tally.ERP 9 allows to specify company name to be connected / made available as per the user requirements) Type the required name (e.g. Rajesh) in Contact Person Name field Type the contact number (e.g. 9909968650) in Contact Number field In Connect for Remote Access section, Select Yes for Allow to Connect Company Select Yes for Connect on Load
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Tally.NET Overview
Connect Name: The user can specify any Connect Name for the Company to be connected. Contact Person Name: The name of the Contact person should be entered who should is responsible for connecting the Company to Tally.NET Contact Number: The name of the contact person should be provided for the person who is responsible for connecting the company to Tally.NET Allow to Connect Company: This option allows the user to enable the Company to get connected for remote access. Connect on Load: This allows the company to get connected by default when the company is loaded.
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Tally.NET Overview
It is mandatory to enable Security Control in the Company Creation master for Tally.NET features to be available in Tally.ERP 9. In case Security Control feature is not enabled, go to the Company Alteration (Alt+F3) screen and enable the same before proceeding further.
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Tally.NET Overview
Select Tally.Net Auditor from the Security List Enter the BAP user name (e.g. tallybapuser@tallysolutions.com) in Name of User field Password field will be skipped Type Yes in Allow Remote Access field to allow the user to access data from a remote location Type No in the field Allow Local TDL, so that the user does not execute TDL files available on the remote computer Type No in the field Allow SMS Access, so that the user does not access the SMS facility. Select End of List.
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Tally.NET Overview
The registered CA User name will be provided to the customer/client from their Chartered Accountant/ Auditor. Allow Remote Access should be set to Yes, only if you want your Auditor to access your data remotely for Auditing.
Tally.NET Overview
By
default Tally.NET Auditor will Use the Basic Facilities of an Owner, which has full access on the company data. You can also select Tally.Net Auditor from Security List which has similar properties
default Days allowed for Backdated Vouchers is set to 0 The Cut-off date for Back Dated Vouchers is left empty Set No to Set/Alter rules for Print Before Save option Set Yes to Allow to Connect Company, if you want the Tally.NET Auditor to Connect the Company to Tally.NET Set No to Use Tally.NET Authentication Set Yes to Use Tally.NET Auditor Authentication In Disallow the Following Facilities: Select End of List from Type of Access In Allow the Following Facilities: Select Full Access from Type of Access Select Audit Listings from List of Reports
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Tally.NET Overview
Select
End of List from Type of Access and return to Security Levels for Company screen Press Enter. Accept to save the access controls for Tally.NET Auditor.
If you want to deny access to certain reports for Auditor you can select the type of access and select the required reports in the Security Levels screen.
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Tally.NET Overview
Select the Company that needs to be connected from the List of Companies and press Enter
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Tally.NET Overview
Enter to Connect.
The Connect Companies to Tally.NET screen will not be displayed if a single company loaded. In this case, the loaded company directly Connects to Tally.NET you click on F4: Connect or press F4.
The Company should be connected to Tally.NET during the Remote Auditing process for the Auditor to view the required reports and post Audit comments.
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Tally.NET Overview
On establishing a successful connection, the status is displayed in the Calculator panel available in the Information Panel. Click on the Calculator Panel to view the complete message as shown:
The Client needs to ensure that the Company is connected to Tally.NET during the Remote Audit process for the Auditor to check various reports and post the Audit Remarks.
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Auditors Edition comprises of the following features which will help the Auditors in improving the efficiency while providing the Audit & Compliance services to the Clients.
Tax Audit tool as per section 44AB of IT Act and printing of: Form 3CD Form 3CA Form 3CB Statutory Audit tool to perform Audit as per the requirements of Companys Act Audit Documentation Data Analysis Auditing Audit Journals Financial Statements in Schedule-VI format Statutory Compliance tool for regular compliance services
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Instant Statistics on Audit Listings (Vouchers which are Audited and Unaudited. Vouchers which are marked as Under Observation, Need Clarification and Vouchers which are Clarified by the Client and altered by the client after audit) Provides facility to record Audit Remarks using Audit Note Provision to mark Vouchers for clarification / Verification from Clients Provides facility to post corrections and reviews remotely Tracking any alteration / modification to vouchers post Audit Generate Annexures to Form 3CD Printing of Form 3CD along with Annexure I and II Printing of Form 3CA and Form 3CB
To view the Tax Audit Dashboard, Go to Gateway of Tally > Audit & Compliance > 44AB Audit The Tax Audit Dashboard appears as shown below:
The Tax Audit dashboard screen shows total number of vouchers available for Audit (Unaudited), number of Vouchers Audited, number of Vouchers To be re-audited and Audit Complete information for each Clause.
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Clause No.: Displays the Clause number as it appears in Form 3CD. Audit Type: Provides brief description on the respective Clause. Unaudited: Displays the total number of unaudited vouchers for each clause.
The Voucher Count shown under the Unaudited Column also contains the Vouchers which are shown under the Under Observation, Need Clarification, Clarified and Altered columns.
Audited: Displays the total number of Audited Vouchers for each clause. Under Observation: Displays the total number of Vouchers marked as Under Observation for each Clause. The Auditor can mark a Voucher as Under Observation for further study or for his Superior's help. The Auditor or his superior can highlight the respective column to drill down to view the Under Observation Summary for each Clause. Need Clarification: Displays the total number of Vouchers marked for Clarification from the Client. This will help the Auditor to keep track of the total number of Vouchers that are pending for Clarification from the Client. The Auditor can highlight the respective column to view the Need Clarification Summary for each Clause. Clarified (To be re-audited): Displays the total number for Vouchers which are Clarified by the Client for each Clause. The Auditor can highlight the respective column to view the Clarified Vouchers. Altered (To be re-audited): Displays the total number of Vouchers that are Altered by the Client post Audit. The Auditor can highlight the respective column to view the Re-Audit Summary for the respective Clauses. Audit Complete?: Displays the Audit completion status for each Clause as entered by the Auditor using the F9: Save Audit button.
If the Client alters any Audited Vouchers after the Audit Complete is set to Yes. The Audit Complete status will automatically change to blank for the respective Clause.
The Auditor can click on any Clause in the Tax Audit dashboard to perform the Audit for the respective Clause. To Audit the Cash Payments made by the Client, Press Enter on Amounts inadmissible u/s 40A(3)
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The Cash Payments screen displays all the Cash Payment Vouchers irrespective of any limit. You can specify the per day aggregate values in the F11: Tax Audit Rules or F12: Configure screens and the above report will list down only those transactions where the per day aggregate value exceeds the specified limit. Press F11: Features In the Tax Audit Rules screen, Set Show Aggregate for the Day to Yes
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Specify
Ctrl+A to save the changes The Cash Payments screen with per day aggregate more than 20,000 is displayed as shown:
Press
Figure 4.4 Cash Payments - showing per day aggregate more than 20,000
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From the above report you can still filter some more payments which are allowed under Rule 6DD. In the above screen Advance Tax payment can be removed from by following the process given below: Press Ctrl+F9 or click on Ctrl+F9: Master button Select Advance Tax from the List of Ledgers and press Enter Specify the details as shown in the screen displayed below:
You can specify the Rule 6DD exceptions for a period as shown above or forever by not specifying any dates in the From and To fields.
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The Cash Payments after filtering the expenses allowed under Rule 6DD is displayed as shown:
The above screen displays only required Cash Payments which can be further investigated by the Auditor. The Auditor can drill down into each ledger Vouchers and decide to allow or disallow any transactions. The Transactions which are marked as disallowed will appear in the Annexure to Clause 17(h), which can be annexed with Form 3CD. To audit the Cash Payments transactions,
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To select more than one transactions, press Spacebar on the required transactions and press F9.
In the Audit Details screen, Selected Audit Status as Disallowed Amount field is prefilled with Voucher value this can be changed if required Specify your remarks in the Audit Note field
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Enter to save
If you have selected multiple Vouchers for Audit, then use Ctrl+A key combinations to save the Audit Details for all the Vouchers.
Similarly, other transactions can be audited. After auditing, you can press Alt+P from Cash Payments screen to print the Annexure to Clause 17(h) as shown:
Set the option Print as Annexure to Yes Press Enter to print the Annexure
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Similarly, other Clauses can be audited and the Annexure can be printed. Alternately, you can also click on Print button or press Alt+P from the Tax Audit Dashboard to print the Annexure for all Clauses.
The Annexure for each Clause can be printed separately by drilling down into each Clause and pressing Alt+P from any report in the respective Clause.
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The Auditor can drill down on the Clause no. column on the left side and enter the required information and save it. Once the Form 3CD is filled completely, the Auditor can click on P: Print button or press Alt+P to print the Form 3CD along with Annexure I and Annexure II. Similarly, Form 3CA and Form 3CB can also be printed.
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Audit
Working Paper Standards Checklist Auditing and Assurance Standards Checklist Audit & Analysis Data Analysis Auditing Audit Journals Financial Statements Schedule-VI Balance Sheet Schedule-VI Profit & Loss A/c
Accounting
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Press Enter and create the checklist for Audit along with the resource names and time required for audit for each area.
The Audit Programme contains the default checklist which is used widely to conduct the Auditing. The other Audit areas can be added to this list or removed from this list as required by you based on the industry type. The details for Extent of Verification and Verification Remarks can be entered after the actual audit completion activity.
Press Enter to save the Audit Programme. Press Alt+P to print the Audit Programme which can be taken to the Clients place for reference.
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4.2.1.2 Audit Working Paper The auditor should document the matters which are important in providing evidence that the audit was carried out in accordance with the basic principles. Working Papers aid in the planning and performance; supervision and review; and provide evidence of the audit work performed to support the auditors opinion. Tally.ERP 9 provides a facility to generate Audit Working Papers with a click of a button. It also extends the facility to dynamically generate report specific Audit Working Papers with details such as audit activity, record date and time, auditor/article's user name, sampling applied, working Note etc. To enable Audit Working Paper the option Enable Audit Working Paper is provided in the F5: Audit Features screen.
On setting this option to Yes, the working note can be entered during or after audit and audit working paper can be generated along with these working/audit notes. Audit Working Note During audit the facility is provided to enter the working note at the Company, Masters (Ledger/ Stock Item/Groups/Stock Groups) and Vouchers level. Based on reports the relevant working notes will be displayed. The note entered can be viewed in the current year and configured to be stored for display in the next year as reference. In the Audit & Analysis dashboard of Statutory Audit, the working note can be entered using the tools: Verification of Chart of Accounts Verification of Stock Items Verification of Balances
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Analytical Procedures Pending Documents Periodic Payments and Receipts Repeated Transactions Relative Size Factor Other Analysis Verification of Voucher, Related Party Transactions, Forex Transactions, MSME Transactions, Salary / Wages Payments
Providing/Adding Working Note Details in Audit Working Paper 1. Enter Working Note Details To enter the Working Note Go to Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Chart of Accounts > Accounts squared-off during the year Click on W: Working Note or press Alt+W keys to specify the working note details at Company or Group or Ledger o Level. The details provided in working note will be captured in Audit Working Paper along with the details of User Name, Working Note Date & Time, Status, Note etc. In Working Note Details screen Details for: In this field select the level for which Working Note to be entered. Company: On selection of Company as the Level cursor will move to Audit Note field to enter the details. Group: On selection of group based on the ledger selected, displays the list of Parent Groups for defining the Working Note
Selection of level - Ledger, application will default the ledger for which the auditor wants to enter the Working Note Working Note: In this field enter the working note details.
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For Future Reference: By default this option will be set to No. Set the option to Yes, if the auditor wants to carry forward the working Note to the next audit period. If the option For Future Reference is set to Yes the Working Note details will be displayed in Audit Working Paper of Current as well as Next Audit Period.
Similarly you can enter the working note from different audit tools and the working note entered will be captured in Audit Working Paper. 2. Copy Audit/Verify Details to Audit Working Paper The Audit Notes entered during Verification/Audit can also be copied to Audit Working Paper. To copy the Audit Notes to Audit Working Paper Go to Gateway of Tally > Audit & Compliance > Audit & Analysis > Verification of Vouchers > select the Voucher and press enter to view Voucher Register Select the vouchers for Audit and click on F9: Audit or press Alt+F9 to view Audit Details screen In Audit Details screen Audit Status: In this field select the appropriate audit status Audit Note: In this field enter the audit note details Copy Audit Details to Audit Working Paper: By default this option will be set to No. Set the option to Yes, if the auditor wants to copy the Audit Note to Audit Working Paper.
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To generate Audit Working Paper Go to Gateway of Tally > Audit & Compliance > Audit Documentation > Audit Working Paper
The Audit Working Paper is divided into three parts: Company Note: This section displays Company Level notes entered by the aditor(s)/article(s) during audit along with the Name of the person who added the Working Note. Masters Note: This section displays Masters (Groups/Ledgers/Stock Group/Stock Item) Level notes entered by the aditor(s)/article(s) during audit along with Group Name, Scope, Status, Note and the Name of the person who added the Working Note. Voucher Note: This section displays Vouchers Level notes entered by the aditor(s)/article(s) during audit along with Voucher Date, Ledger Name, Voucher Number, Scope, Status, Note and the Name of the person who added the Working Note. The F12: Configuration of Audit Working Paper provides the facility to filter the report based on: Working note level (company or masters or vouchers) Sorting methods to show working / audit notes in the increasing or decreasing order of ledger, group, stock group and stock item names, transaction amount, date-time, users and scope of audit Note type-wise filtering facility with Audit / Verify, Future Reference and working note.
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The Audit Working Paper configured to view only the Company Note is displayed as shown
Tally.ERP 9 provides the capability to define/add working note and generate report specific Audit Working Papers such as Ledger Vouchers, Verification of Chart of Accounts, Verification of Stock Items, MSME Transactions, Forex Transactions, Salary/Wages payments, etc.
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Security Level capability is also enhanced to give access to update, alter, delete Working Note, print /display of Audit Working Paper to article(s)/users. Audit Working Paper Access Type: Create - Allows only to add Working Notes. Alter - Allows to add and alter Working Notes Full Access - Allows to add, alter, delete the working Note and change F11: Features.
Access Type - Create and Alter will not allow the article(s) to Disable/Enable Audit Working Paper in F11: Features.
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4.2.1.3 Accounting Standards Checklist Accounting Standards Checklist displays all the Accounting Standards (ASs) listed by the Institute of Chartered Accountant of India (ICAI). This report helps the auditors/articles in marking the Accounting Standards applicable and complied status for a company, along with Remarks. To view the Accounting Standards checklist Go to Gateway of Tally > Audit & Compliance > Audit Documentation > Accounting Standards
Auditor can mark the appropriate Accounting Standards by setting Yes or No in Applicable and Compiled columns.
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The option None can be used by an auditor/article when he decides to leave a particular Accounting Standards as blank for further clarification or to resume the update of checklist later. The Accounting Standards is also provided for Clients under Audit & Compliance Info menu (Display > Statements of Accounts), from where the users can mark the applicable Accounting Standards.
The Accounting Standards can be printed and taken by the auditor(s)/article(s) while conducting the audit for reference. To print the Accounting Standards, Press Alt+P from Accounting Standards screen In the Accounting Standards Printing screen press Enter or click on Yes to print the Accounting Standards
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4.2.1.4 Auditing and Assurance Standards Checklist Auditing and Assurance Standards Checklist displays all the Auditing and Assurance Standards (AASs) in line with Standards on Auditing (SAs) listed by the Institute of Chartered Accountant of India (ICAI). This report helps the auditors/articles in marking the Auditing and Assurance Standards applicable and complied status for a company, along with Remarks. To view the Auditing and Assurance Standards Checklist Go to Gateway of Tally > Audit & Compliance > Audit Documentation > Auditing and Assurance Standards Auditor can mark the appropriate Auditing and Assurance Standards by setting Yes or No in Applicable and Compiled columns. The completed Auditing and Assurance Standards Checklist is displayed as below
The option None can be used by an auditor/article when he decides to leave a particular Accounting Standards as blank for further clarification or to resume the update of checklist later.
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The Auditing and Assurance Standards can be printed and taken by the auditor(s)/article(s) while conducting the audit for reference. To print the Auditing and Assurance Standards, Press Alt+P from Auditing and Assurance Standards screen In the Auditing and Assurance Standards Printing screen press Enter or click on Yes to print the Auditing and Assurance Standards Page - 1
Credit balances, Instrument Date, Bank Date, Number of Days delayed, Audit Status and Audit Note.
Cash
Withdrawals/ Deposits to Bank - Will display the bank ledgers from which the cash is withdrawn or deposits are made. This report also displays the Total Amount of transaction and the Number of vouchers through which the withdrawal or deposits are made during the selected year.
Fixed
Assets Analysis: This report displays the details of the Fixed Assets Ledgers with the following information:
i. Opening Balance of the Assets brought forward from the previous year ii. Accumulated Depreciation for the Assets if separate Ledger is created for each Asset iii. Number of days for the Assets purchased/procured during the Audit Year with the option to classify as less than 180 days and more than 180 days. The relevant Purchase entries are also available for scrutiny. iv. Closing Balance for each Fixed Assets at Group and Ledger level. The above report can be exported to Excel and the Depreciation can be computed for each asset.
Transaction
on holiday - This report displays all the transactions recorded on Weekly Off or Declared Holidays in the Audit Year. and Lowest Value Transactions - This report provides ledger wise Highest and Lowest value transactions carried out during the selected period along with Difference Range and Difference Range Percentage details.
Highest
Pending
Advances - This report displays the ledgers for which the advances made (Loan given) are pending during the Audit Year.
Stale
Cheque /Instruments - This report displays the Bank Ledgers with stale cheque/ Instruments. This report also displays the Total amount and count of stale cheques/ Instruments. To filter the transactions in this report, by default 6 months has been set as Validity Period for Cheques/Instruments. The Stale Cheques/instruments report checks for the instruments which are falling above the Validity Period by comparing Bank Date with Instrument Date of the transactions.
Once the Auditor finishes verifying the data using the above tools, he can mark the status in the Verification Complete? column to Yes.
4.2.3 Auditing
The Auditing section provides the facility to the Auditors to Vouch the transactions and enter the required Audit remarks. Verification of Vouchers: Option to apply the recommended Sampling methods and do the Auditing for the Sampled Vouchers or all Vouchers is provided. Related Party Transactions: Option to check and Audit the vouchers of Ledgers marked as Related Party is provided.
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Forex Transactions: Option to check and audit the transactions involving multi currency is provided. Micro, Small and Medium Enterprises (MSME) Transactions: Auditor can check and audit the Outstanding Payments for the parties identified as MSMEs. The Payments which were made after 45 days can also be tracked using this report. Salary / Wages Payments: Auditor can check the Head count details and Salary Payments details for all the employees and option to audit these transactions is provided.
Though the Auditing section provide the list of all Vouchers for Audit, the tool provides the flexibility to Audit any transaction from anywhere. The Auditors Edition provides the facility to the Auditors to raise the Clarification Note and obtain necessary clarifications from the Client. The tool also tracks the Vouchers which are altered after the Audit completion. To view the Data Analysis and Auditing reports, Go to Gateway of Tally > Audit & Compliance > Audit & Analysis The Statutory Audit Dashboard appears as shown:
The drill down from Total and Audited columns will display all and Audited Vouchers respectively. While the drill down from the Under Observation, Need Clarification, Clarified (To be re54
audited) and Altered (To be re-audited) columns will display the Vouchers with the respective Audit Status. The Statutory Audit Dashboard also displays the percentage of sampled Vouchers to total Vouchers and Sampled Vouchers to Audited Vouchers.
Sampled column displays the count of Sampled Vouchers along with the Percentage. It also displays Voucher Type- and Ledger-Wise sampled vouchers count Ledger-wise count displayed in Brackets indicates the number of Ledgers participated in the sampled vouchers.
For more information on sampling methods and configuration, refer to the Tally.ERP 9 Reference Manual (Help file).
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The entries with the Others flag will appear above the Profit/(Loss) Carried to Balance Sheet in Red colour to grab the attention. The Audit Journals report with these entries is displayed as shown:
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Schedule-VI Profit and Loss A/c Sales & Income Groups are mapped to INCOME by default Expenses & Purchase Groups are mapped to EXPENDITURE Option to rename INCOME & EXPENDITURE is provided to support all industries Flexibility to regroup within INCOME & EXPENDITURE Flexible Schedule numbering Generation of Schedules Export to Excel for further formatting if required.
4.2.5.1 Schedule-VI Balance Sheet To generate the Balance Sheet in the required Schedule VI format, Go to Gateway of Tally > Audit & Compliance > Financial Statements > Balance Sheet The schedule VI Balance Sheet is displayed as shown:
To generate the Balance sheet with previous year figures, load the previous year data if it is in a different Company.
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All the default Tally Groups are mapped to the Schedule VI titles to generate the above Financial Statements. The Auditor can further re-classify these Groups as per the requirement without affecting the Clients data. Flexibility has been provided to rearrange either Groups or Ledgers so that the required Schedule -VI Balance Sheet can be generated. Please refer to Tally.ERP 9 reference manual (help file) for more information.
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In the default Balance Sheet report the S: Schedule VI button (Alt+S) is provided to generate Balance Sheet as per the Schedule VI format of the Companies Act.
4.2.5.2 Schedule-VI Profit & Loss A/c Statement To generate the Profit & Loss A/c Statement in the required Schedule VI format, Go to Gateway of Tally > Audit & Compliance > Financial Statements > Profit & Loss A/c The Schedule-VI Profit & Loss A/c statement is displayed as shown:
In the above report all the default Sales and Direct Income Groups are mapped under INCOME and all the default Purchase, Direct Expenses, Indirect Expenses Groups are mapped under EXPENDITURE. You can further reconfigure the above report as per the requirement to arrive at the final Profit & Loss A/c Statement. The Tally Groups appearing under INCOME can only be reclassified under INCOME. Similarly, the Tally Groups appearing under EXPENDITURE can be reclassified only under EXPENDITURE.
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Flexibility has been provided to rearrange either Groups or Ledgers so that the required Schedule -VI P&L A/c can be generated. Please refer to Tally.ERP 9 reference manual (help file) for more information.
In the default Profit & Loss Account report the S: Schedule VI button (Alt+S) is provided to generate Profit & Loss Account as per the Schedule VI format of the Companies Acts.
In the default Balance Sheet report the S: Schedule VI button (Alt+S) is provided to generate Balance Sheet as per the Schedule VI format of the Companies Act. In the default Profit & Loss Account report the S: Schedule VI button (Alt+S) is provided to generate Profit & Loss Account as per the Schedule VI format of the Companies Act
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The Statutory Compliance Summary is divided into two sections: 1. The first section displays the number of Ledgers and Vouchers and classifies them into following: Total: Displays the total number of Ledgers/Vouchers Possibly Incorrect (to be Verified): Displays the number of Ledgers/Vouchers which are not created/passed as per the setup recommended by Tally.ERP 9 for selected Statutes. Marked for Clarification/Correction: Displays the number of Ledgers /Vouchers for which the clarification is asked from Client or correction is suggested. In Accordance: Displays the number of Ledgers/Vouchers that are created/passed as per the recommended setup in Tally.ERP 9 for the selected Statutes. Others/Non Statutory: Displays all other Ledgers /Vouchers that does not belongs to the selected Statutes.
The number of Ledgers/Vouchers that are marked Verified will appear in the brackets next to the total number of Ledgers/Vouchers in each column except Possibly Incorrect (to be Verified) and Marked for Clarification/Correction.
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2. The second section shows the Statutory Payment Details for the selected period along with pending payments and due dates etc.
Tax payable: Displays the total tax payable for the selected period. Tax paid: Displays the total tax paid during the selected period. Balance Tax: Displays the pending tax payment based on the Tax payable and Tax Paid amounts during the selected period. Due on: Displays the last date of making the tax payment for the selected period if there is any balance tax to be paid.
The due date for the selected statue is shown based on the due date specified in the F11: Audit Features screen.
The Auditor can drill down from the first section to view the Ledger Masters and Ledgers Vouchers and perform the Audit and save the Verification remarks. The drill down from Possibly Incorrect (to be Verified) will display the reasons for the non compliance. The drill down from the second section displays the Computation reports for each statute.
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