Ebrahim

Ebrahim
Ebrahim
Ebrahim
Rizwan & Co.&&
&&Co.
Co.
Co.
Co. Completed by Reviewed by Reviewed by Schedule
Chartered
Chartered
Chartered
CharteredAccountants
Accountants
Accountants
Accountants (SPS/AM) (Partner)
Chartered Accountants

CLIENT : Ravi Autos Sundar (Private) Limited

ACCOUNTING PERIOD : June 30, 2015 Date : Date :

AUDIT PROGRAMME OF: WORKERS' WELFARE FUND

INITIAL CONCLUSION SCHEDULE

REVIEW S= Satisfactory
BY
STAND. STAFF
ASSERTION TEST TEST DESCRIPTION N= Non-satisfactory FORMAT INITIAL/
S or FWQ REF. GRADE
Dt: N Reference
C E A V
SUBSTANTIVE PROCEDURES

1 Check the status of the company, engaged GRY-1

in ''Industrial undertaking''

Does company satisfy any one of the following

condition: GRY-2
a Total income for the year is not less then five lakh
b No of workers employed is greater then 50

2 i).Check the company pay 2% of its Profit before taxation.

OR
ii). 2% of 4% of receipt value of exports in case
to file return under section 115 (4) of the rdinance

3 Has the computation and allocation of interest; GRY-3

i). Correctly done
ii). Properly allocated to workers
iii). Fully provided in the accounts

4 i). Check that every worker been distributed the

annual income of the fund including capital gains
realized.
ii). Check that a worker leaves his employment or his
terminated receives 100% of the net asset value
of the units standing in his name as on that date.

5 Check that the appointment of Chairman to the Board

is for One Year.

524838066.xlsx ISSUED : JULY, 2001 Page 1 of 2

 Ebrahim
Ebrahim
Ebrahim
Ebrahim
Rizwan & Co.&&
&&Co.
Co.
Co.
Co. Completed by Reviewed by Reviewed by Schedule
Chartered
Chartered
Chartered
CharteredAccountants
Accountants
Accountants
Accountants (SPS/AM) (Partner)
Chartered Accountants

CLIENT : Ravi Autos Sundar (Private) Limited

ACCOUNTING PERIOD : June 30, 2015 Date : Date :

AUDIT PROGRAMME OF: WORKERS' WELFARE FUND

INITIAL CONCLUSION SCHEDULE

REVIEW S= Satisfactory
BY STAND. STAFF
ASSERTION TEST TEST DESCRIPTION N= Non-satisfactory FORMAT INITIAL/
S or FWQ REF. GRADE
Dt: N Reference
C E A V
6 Obtain copies of ;
i).Special audit report ( by Federal Government)
ii).Board minutes ; if any
iii).Regulations for governing the fund
iv).Audited accounts with auditior report thereon of
the fund

7 i).Ensure that all incomes of the fund are exempt

from the tax
ii). Ensure that trustees shall not take any remuneration
for their services except the reasonable cost of their
travel.
iii). Obtain the copy of challan showing the left
over amount deposited into bank.

8 Obtain the schedule of detail of interest accrued on

total allocated WWF and copy of the statement for its
distribution amongst workers.

9 Examine on test basis name-wise payment vouchers /

sheets as required to be submitted to Section Officer
of Ministry of Labour, Manpower and Overseas
Pakistanis- Federal Government of Pakistan.

10 Note that any difference arising between the board and GRY-4
company relating to the administration of the scheme
has been referred to the Federal Government because
the decision of the Federal Government would be final
on any matter referred to the Federal Government.

Ebrahim & Co.

Chartered Accountants

524838066.xlsx ISSUED : JULY, 2001 Page 2 of 2