AUDIT PROGRAM

N/AP/
CLIENT: K.S.SULEMANJI ESMAILJI & SONS (PVT) LTD
1
PERIOD: 30 JUNE, 2009
SUBJECT: ACCRUED MARKUP

Est. Phase/ W/P

Procedures By Comments/Explanations
Hrs. Level Ref.
AUDIT OBJECTIVES

To determine whether:

B. Accrued liabilities represent all obligations for

resources and services acquired through the balance
sheet date and have been properly recorded. BAS NOTED
C. All liabilities are properly described and classified and
adequate disclosures with respect to these amounts
and disclosures related to off-balance sheet financing
have been made.

SUBSTANTIVE PROCEDURES

1. Accruals

1.1 For each material accrued liability, obtain a summary N1-01 BAS Summary obtained and
analysis for the period and a copy of the client's N1-30 calculation checked for the year
calculation of the required balance as of the balance end balance.
sheet date. Verify the clerical accuracy of each
analysis.
1.2 Determine whether the ending accrual balances agree N1-LS BAS Determined and no such
in total to the general ledger control accounts for such difference found.
accrued liabilities. Investigate significant or unusual
reconciling items.
1.3 Examine critical forms and documents to support the BAS Interest re-calculated and found
bases used to calculate the accruals. satisfactory basis.
1.4 Have the client reconcile the charges or credits shown BAS Interest charges cross-referred
in each analysis with the applicable income statement with income statements.
accounts. Cross-reference to the appropriate lead
schedules. Examine supporting documentation for
significant reconciling items.
1.5 Cross-referred accrued balances confirmed by banks. N1-30 BAS Cross-referencing done with
bank confirmations.

Other tests as deemed necessary

NONE

Management Letter

Prepare management letter points including:

 Internal control weaknesses;
 Business improvement opportunities;
 Legal non-compliance;
 Accounting system deficiencies; and
 Errors and irregularities not material at the
financial statements level.
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 AUDIT PROGRAM
N/AP/
CLIENT: K.S.SULEMANJI ESMAILJI & SONS (PVT) LTD
1
PERIOD: 30 JUNE, 2009
SUBJECT: ACCRUED MARKUP

Est. Phase/ W/P

Procedures By Comments/Explanations
Hrs. Level Ref.

Disclosure

Ensure appropriate disclosure have been made in

accordance with the reporting framework and fill
relevant portion of Financial Statement Disclosure
Checklist (FSDCL).

Supervision, review and conclusion

1. Perform Senior review and supervision.

2. Resolve Senior review points.
3. Resolve Partner and Manager review points.
4. Conclude response to the audit objectives.

Audit conclusion

Based on the substantive test procedures, I/we performed as outlined above, it is my/our opinion that the audit objectives set forth at
the beginning of this audit program have been achieved.

______________ ___________ ________ _______

Date:____________ Signature Job Incharge Manager Partner

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