STATUTORY AUDIT PROGRAMME Instructions for use: This Audit Programme has been basically designed for and

should be used for the purpose of the statutory audits of Manufacturing / Trading Concerns. This Form of Audit Programme will not be applicable to Banks, NBFCs etc. Name of Client :____________________________________________________ Period Covered :____________________________________________________ Location Covered :____________________________________________________ Identification of Team: Sr.N o. 1 2 3 4 Responsibilit y Team Leader Team Member Team Member Team Member Name of person Abbreviatio n Initials

Record of Periodic reviews at appropriate stages: Rev.n o. Name of Reviewer Date of review Initials Remarks

Prepared By: Team Leader Charge Sign :_____________________ :___________________________ Name:_____________________ :___________________________ Date :_____________________ :___________________________

Approved by: Partner in Sign Name Date

A. Planning and Commencement of Audit Sr. No. A.1 Area Legal requirements as to appointment Sub-area A.4 A.5 Review of EDP system Review of internal control A.6 Audit planning B.1 B.2 Petty cash vouching Cash Vouching Enquiry u/s 224(1b) Response to such enquiry Appointment letter Intimation to ROC Acceptance Communication with previous auditors Audit planning cum team briefing Business process General observations Critical issues of previous Year EDP System Checklist Substantive procedures Compliance procedures Documentation and authentication Internal Auditors Report Internal control checklist Locations Major Areas Areas to be assigned to Associate Offices Materiality Benchmark Requirement list sent to client Person Est. time Act. time Statu s

A.2 A.3

Briefing by PIC Review of last years file

Receipts Payments Contras Physical

Sr. No. B.3

Area

Sub-area Certificate Receipts Payments Contras Recos. Confirm. Vouching Variance analysis Cut off procedure Vouching Variance analysis Cut off procedure Vouching Variance analysis Cut off procedure Vouching Variance analysis Cut off procedure

Person

Est. time

Act. time

Statu s

Bank Vouching

B.4

Sales Vouching

B.5

Other Income

B.6

Purchase Vouching Expenses Vouching Journal Vouching Debit Notes Credit Notes Debtors ledger scrutiny

B.7

B.8 B.9 B.10 C.1

C.2

Creditors ledger scrutiny

D.1

Share Capital

D.2

Reserve/Surpl.

D.3

Sec. Loans

Ledger scrutiny Age wise Confirm. Debtors Checklist Impairment Evaluation Ledger Age wise Confirm Creditors Checklist Pattern Add/redm. Share Capital Checklist Break up Movements Reserves & Surplus Checklist Agreement Mortgage Description

Sr. No.

Area

Sub-area Borrowing checklist Break up Interest Short term Borrowing checklist Section 58 A checklist. Register Add/Del. Phys. veri. Revaluation Title deeds Resolutions CWIP& Adv. Pre-op. exp F.A checklist Impairment evaluation Method Rates Rationalisation Purchase Sale Speculation Physical Classification Valuation Group Cos. B/Resolution Investment checklist Impairment Evaluation Maocaro Interest Impairment Evaluation Confirm. Loans and Advances Checklist Break up Confirm.

Person

Est. time

Act. time

Statu s

D.4

Unsec. Loans

D.5

Fixed Assets

D.6

Depreciation

D.7

Investments

D.8

Loans and Adv

D.9

Deposits

Sr. No. D.10 D.11 D.12

Area

Sub-area Interest Break up Support.

Person

Est. time

Act. time

Statu s

Prepaid Exps. Other current assets Misc. Exp

D.13

Other Liabilities

Break up W/off Misc. Exp Checklist Break up other Liabilities Checklist

E.1 E.2

Opening balance tracing Stocks

E.3

Payroll

F.1

Review of Minutes book

Physical verification Checklist Valuation AS-2 Inventories Checklist Obsolescence Review Salaries/wage P.F., ESIC, Bonus Gratuity Leave encash. Other items Payroll Checklist Payroll rationalisation AGM / EGM BOD Committees (Pls. Specify)

G.1 G.2 G.3 H.1 H.2

Branch Trial Balance Review of Branch Auditors report Consolidation Payment of P.F., TDS and ESIC Provision for tax and status of assessment

Delay in payments Arrears Computation of Income / Wealth. Advance Tax Status

Sr. No. H.3 H.4

Area Sales Tax Review of Excise Records Compliance with Companies Act. Compliance with ICAI Guidelines / Statements Other Acts (Pls. specify) Notes to Accounts Significant accounting policies Qualificatory Matters Cont. Liability

Sub-area Assessment status Accounting Sys. Registers Modvat Companies Act Checklist Statutory Register Checklist A.S Compliance Checklist Others (Pls. Specify)

Person

Est. time

Act. time

Statu s

H.5

H.6

H.7

I.1

Compare with previous year Addition / Deletion / Modification

I.2 I.3

Description wise breakup Cont. Liability Checklist

I.4 I.5 J.1

Quantitative information Companies general business profile Final Tracing

Trial Balance Groupings Schedules Bal. Sheet checklist P/L checklist Post Balance Sheet evaluation checklist Audit completion checklist Schedule of unadjusted differences Cost sheet.

J.2

Review by SIC

Sr. No. J.3

Area Review by PIC

Sub-area Final issue discussion with client Debriefing Statement Analytical Review Checklist Audit Report Checklist

Person

Est. time

Act. time

Statu s

J.4 J.5 K.1 K.2 K.3 L L1 L2

Analytical Review Preparation of Draft Report Au-10 part- I Au-10 part- II Any other special rep. (Pls. Specify) Work given to Associates Work given to Associates Review of work by Partner in charge Audit Report

M.1

Main report Maocaro B/S P & L A/C Schedules Notes MAOCARO Checklist

M.2 M.3 N.1 N.2

Cash Flow certificate Any other please specify Management Letter Critical issues for future audit