Simple Statutory Audit Checklist

• November 12, 2019
• CA Chandan Agarwal's Office

A. Internal Control verification:-

As Auditor we check the Internal control, just to ascertain whether weak internal controls are materially affecting financial statements. Give separate report on internal control, wherever applicable:-

–  Check processing pattern of company / firm from purchase order placed by company to actual delivery to its customer.

–  If there are too much reversal of accounting entries, then companies internal controls in book keeping are weak, higher chances of accounting error.

–  Procedure followed by company to confirm balances due to / from parties.

–  Control on cash inflow and outflow.

–  Whether the company is complying with other statutes such as Labour laws, MSME Act, etc, wherever it required to.

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