NAME : KAMBLE ASHWINI DATTATRAYA

COLLEGE : ANNASAHEB MAGAR COLLEGE HADPSAR

CLASS : MCOM – 2
SUBJECT : SPECIALIZATION AUDITING
EMAIL ID : kamblekomal981@gmail.com
MOBILE : 8999035014
 PROCEDURE OF
EXCIES AUDIT 2000
 MEANING OF EXCISE AUDIT 2000

In conventional sense, audit means security and

verification of documents, events and processes in
order to verify facts and draw conclusions
regarding the correctness of recording of facts and
the efficiency of a system under study.
 WHAT IS EXCISE AUDIT 2000
Traditional audit will eventually be replaced by excise audit 2000 a
new system of audit. This new system was initiated from 1st
December 1999 when it was implemented in case of all assessment
paying cash duty of over rs 5 crores per annum In September 2000
the central board of Excise and customers made this audit applicable
in case of all assessee paying cash duty of over rs 1 crore per annum.
PROCEDURE OF EXCISE AUDIT 2000

1) Selection of assessee : the process of Excise 2000 begins

with identification of a unit to be audited normally, there are
about 1000 to 1500 assessees under the jurisdiction of a
central Excise commissioner it is not possible for the audit
staff to conduct audits of all the units every years.
DESK REVIEW : the auditor are assigned the
assessees to be audited at the beginning of the
financial years the auditers are required to gather
information about the assessee as possible.
3) DOCUMENTING INFORMATION :
at the stage of desk review the auditors
may have already identified certain areas
which warnings closer examination.
4) TOURING : the auditor then visits the unit of the assessee
to see the actual running of the unit the systems that are
followed for maintaining records in various sections and the
System of movement of goods and the related documents
within the unit this step is called touring of the premises.
5) AUDIT PLAN : based on his
experiences of the information gathered
so far about the assessee the auditor
now makes a audit plan.
6) VERIFICATION : the most important step of audit is the
conduct of actual audit, which in technical parlance is called
verification. The auditor using the unit visits the unit of the
assessee on a scheduled date ( informed to the assessee in
advance ) and carry out the security of the records of the
assessee as per the audit plan.
7) AUDIT OBJECTION AND AUDIT PARA :
where the auditor finds instances of short payment
of duty or non observance of central excise
procedures, he is required to discuss the issues
with the assessee.
8) AUDIT REPORT : at the end of the
process of verification the auditor prepare
an draft audit report which incorporated
all the audit objections/ audit pares.
😊 thank you 😊