Engagement Details
Total
69
Done
0
N/A
0
Pending
69
Property, Plant & Equipment
- Obtain fixed asset register (FAR); reconcile with general ledger
- Physically verify sample of high-value assets
- Verify additions with invoices, board approvals and capitalisation policy
- Verify deletions/disposals with approvals and profit/loss on sale
- Recompute depreciation as per Schedule II / AS 10 / Ind AS 16
Investments
- Obtain schedule of investments; verify holdings from DEMAT / share certificates
- Verify valuation as per AS 13 / Ind AS 109
- Check for permanent diminution / impairment
Inventory
- Attend physical inventory count and document observations
- Verify inventory valuation method (FIFO/Weighted Avg) as per AS 2 / Ind AS 2
- Obtain inventory ageing and check provision for slow-moving/obsolete items
- Obtain third-party confirmation for inventory held at outside locations
Trade Receivables
- Obtain ageing schedule; reconcile with general ledger
- Send direct confirmations to sample debtors
- Verify expected credit loss / provision for doubtful debts
Cash & Bank
- Obtain bank confirmations for all accounts as at year end
- Verify bank reconciliation statements for all accounts
- Physically verify cash in hand on the balance sheet date
Equity / Capital
- Verify authorised and issued capital from MCA master data / registration certificate
- Obtain list of shareholders/partners and reconcile movements during the year
Borrowings
- Obtain sanction letters; verify terms, security and interest rate
- Obtain bank confirmations for outstanding balance and charges created
- Verify correct bifurcation between current and non-current portion
Trade Payables
- Obtain ageing; identify MSME parties and check 43B(h) compliance
- Send direct confirmations to sample creditors
- Verify subsequent payments from post-year-end bank statements