Internal Audit Check List Plan
Areas to be covered:-
* Cash Transactions
* Bank Transactions
* Contra Transactions ( Cash & Bank)
* Bank Reconciliation Statements
* Purchase Transactions
* Journal Transactions
* Taxation Matters (VAT, Service Tax, TDS, WCT etc.) Payments & Returns
* Service Vendors Reconciliation (Bills & Payments)
* Clients Reconciliation ( Bills & Payments)
* Contractors Reconciliation ( Bills & Payments)
* Suppliers Reconciliation ( Bills & Payments)
* Labour Mustrolls & Form-11
* Physical Stock Verification
* Material Receipt Reconciliation (with clients & petty contractors)
* Fixed Assets Verification
* Debtors/Creditors Ageing
* Inter Site Reconciliation
* WIP Working Verification
* Insurance Policy
* Verification of Time Keeper Records
* Other Areas ( Various Reports)
Cash Transactions
* Cash Vouching
* Cash Position at the end of month
* System & Record of Cash withdrawn & distributed to various sites
* Labour Payment disbursement records & Settlement of Unclaimed wages
* Weekly Contractors payment records & Settlement of Holding (if any)
* Preparation of Day Book for daily cash expenses
* Processing of all cash vouchers in Navision
* Proper filing of all cash documents
* Proper authorization signature & revenue stamp on cash vouchers
* Cash in hand details ( On every Saturday)
* Monthly verification of cash & reconciliation with books
* Verification of procedures for cash receipt & accounting of the same
* Discussion with Project In charge for expenses & status of cash position
* Average cash utilization vs. Average cash maintained
* Job rotation for carrying huge cash from R.O. to Sites
* Fidelity & Transit Insurance for safety of cash from theft & transit loss
* IOU’s details & settlement
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