INTRODUCTION AND ORIENTATION

Today marked the beginning of my 15-days Internship at the auditor's office. The day
started with a brict Introduction to the staff Members, followed by a general orientation
session conducted by the Supervisor or spenter assigned to me.

I was given a comprehensive overview of the eftice structure and how the various
departments work together The Supervisor explained that the primary rode of the
auditors efforce ensure transperency, accountability and accuracy in financial
documentation

I was also introduced to some of the basic tool and system used in the auditing process.
Including files, registers, ledgers, and computer Softwa and I had the chance to observe
ha documents are received, proccessed and stored.

later in the day, I was on taken observed Employees Engaged in activities such as
checking financial Entries, preparing reports, and triling Important documentation. That
first day, I gained a clear understandin of the role and responsibilities of an auditois
ettire, and about I learned. the Importance of maintaining accurate and records. error
free financial

My trust day at the auditor's office was both educational and Inspiring. I look forward to
gaining more knowledge and gradually getting Involved in practical work in the coming
days.
 LEARNING THE FUNDAMENTALS OF VOUCHING. 2

on the second day et my Internship I began to engage in more practical tastes within the
auditing Process. and primary I have learn the Fundamentals et vouching and vouching
techinaves.

Types of voucher in auditing.

Primary voucher Collateral voucher

Primary vouchers:

Primary voucher refers to the written evidence in original. Example of primary voucher
are purchase Invoice, lash memo, bills

collateral voucher...

when the original voucher is Not available, copies there of are produced in support or
as subsidiary to remove suspicion and to Satity the auditor. Such a voucher is known as
collateral voucher.

Ex: Sales Inuace, receipts......

Techiniques of vouchers-

wouching is a crucial technique in aditing that involves verifying the accuracy that
authentiaty of transactions and account balances. by Examining Supporting
dowmentation

* verification of transactions
* Examination of doumentary.

* contrimation with third 7 parties

+ Physical verification.

A firm where majority of the partners practising in india are Qualified for appointment
may be a by its form name to be the audit of the company

In lase of an LLP, only those partners who are Chartered accountants shall be
authorised to act and sign on behalf of the firm.

Disqualification of a auditor

According to provisions of section 141 (3) of the companies act 2013, following persons
shall not be eligible as auditor of the company.

A body Lemporate other than Lup Registered under the LLP act, 2008.

An officer or Employee of the Company

A person who is partner os who in the Employment of an Ettica or Employee of the

on the fourth day of my Internship at the auditor's office, I was given an opportunity to
wore More closely with real client data-The main task assigned to me was the
verification of purchase and Wales Ledgers for one of the firm's clients.

I was asked to Cross Check the entire Entries made in the ledger books with the original
Supporting documents such as Invoices, bills and receipts.

I also assisted in checking the correctness of (GST [Croods and Services Tax]
calculation on various Invoices. In addition I helped in Sorting and arranging Physical
fills which is and audit preparation.

I also fained a better under Standing of how GST is applied to transactions, how to
check for its accuracy, and the Impact of ristakes in tax calculations.

Tools/meterials used-

Manual ledger books.

Client invoices and supporting. doruments.

GST rate Charts [for reference).

one key observation from today was the Importance of Clear Communication beturcen
auditors and clients. This helped me understand how Important it is to maintain a
proffesional and respecthul tone during such communication

I also fained a better under Standing of how GST is applied to transactions, how to
check for its accuracy, and the Impact of ristakes in tax calculations.
EXPOSURE TO BANK RECONCILIATION AND CASH BOOK VERIFICATION

on the fifth day of my Internship I was Introduced to the process of bank reconciliation
and the verification of the lash book. I observed how the auditors compare the Bank
Statement received from clients with their Internal records to Identity rismatches and
reconcile differences. as it helps ensures that the company's financial records
accurately reflect its bank transactions

I was asked to assist in Checking the entries recorded in the Client's Cash book against
the original receipts and vouchers. The task Involved checking the opening and Closing
balances, veritying dates, and identifying any unusual or Missing Entries

* I understood how differences between the bank statement and the lash book must be
Investigated and Properly explained.

Tools/meterials used:

Client's bank statement.

Lash book and vouchers

Calculator

micro sett esccel [used to draft reconciliation statement.

Another Important Takeaway how bank reconciliation acts was as a control tool in the
auditing process, helping detect errors, ommision or, cuen prasudulent activity.
 INTRODUCTION TO TDS AND VOUCHING PROCESS.

on the sisxth day of my Internship I was Introduced to the basics of TDS [Tax Deducted
at Source] and the procedure followed. tor vouching in an audit. The auditor assigned ne
to observe the verification of TDS Entries in the Books of a vient.

This Including checking whether TDS was deducted correctly on payments Such as
proffesional fees, rent and Contractor bills as per the applicable percentage-we
refbered to form 26AS to match the Entries with the government records.

TDS Details in tax audit

* Clause 21 (b): peporting ot dis allowance for Non- deduction of TDS.

*clause 34 (a): Reporting of TDS) TCS deduction or collection details.

* Clause 34 (b): Reporting otr TDS/TCS deduction or returns related details.

* Clause 34 (c): Reporting of TDS Or TCS Interest related details.

These sub-Clauses alm

to ensure that the TDS Compliance is properly reported in the Tar audit.

*In the second half of the day I learned about vouching, which is the process of
Checking the authenticaty at financial Transactions using Supporting documents.

Tools

* Client TDS records

* voucher

* form 26AS

* calculator.

FUNCTION OF AUDIT

on the Seventh day of My Internship the I have learned to basics of Audit functions.

functions

Study the accounting

System)

vouching

Internal control

System

verification et asset
(Legal requirement

St

Liabilities Fuerubication

(capital and revenue

Valuation Yot assets

(Reporting)