AUDIT OF MANUFACTURING COMPANY

BY:PURUSHOTHAM.VPRABAKARAN

MEANING

Audit

Auditing

QUALITIES OF AUDITORS Knowledge – based qualities

General principles of law

Specific statutes & provisions applicable

Taxation laws

Clients & Nature of business

General economic trends

Accounting & Auditing: Standards, principles, procedures, techniques

Personal QualitiesTactCautionFirmnessGood temperIntegrity, objectivity & IndependenceDiscretionPatienceJudgementClear-headedness & common-sense

ACE MANUFACTURING COMPANY

AUDIT OF MANUFACTURING COMPANY Adaptation Scope Definition Accounting Work Letter of Engagement Internal Control Management Responsibilities Evaluation of Evidence Reporting

SPECIAL ITEMS CONSIDERED IN AUDITING OF MANUFACTURING COMPANY

Goods in Bonds Loose-tools at Construction Site

Physical Verification SheetFinancial Statement

Work in ProgressCost SheetsPrevious year financial StatementsGeneralProvisions of companies act

Goods on Consignment Consignment agreement Account Sales Written Confirmations Balance Sheet

Goods On Approval Basis Memoranda records Purchase Register Stock Register