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Check List of Internal Audit of a Construction Company

  • Date Submitted: 07/29/2013 02:38 AM
  • Flesch-Kincaid Score: -19.8 
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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  * System & Record of Cash withdrawn & distributed to   various sites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

Bank Transactions
  * Bank Vouching
  * Records of...

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