How do you audit creditors?
.
1) Verification of sundry creditors
1Obtain a list of creditors.
2) Check the schedule of creditors with the balance in the creditor's ledger.
3) Obtain statement of account from creditors.
4) Check the purchase book and purchase return book with the help of invoices and credit notes..How do you audit creditors?
Auditing is a systematic examination and verification of firms books of accounts, transactions records, other relevant documents and physical inspection of inventory by qualified accountants called auditors.
The term audit is derived from Latin word 'audire' which means to hear.
Auditing is as old as accounting..
What are the topics for APFC exam?
The EPFO APFC Syllabus 2023 consists of topics from General English, General Science, Indian Culture, Computer Fundamentals, Population, Governance, Accounting, Globalization, Accounting, and General Mental Ability..
What is the cut off for UPSC APFC exam?
Regarding the UPSC EPFO APFC, out of a total 300 marks, the minimum marks required to attain suitability in interviews for candidates according to the different categories is as follows: Unreserved Category – 50 Marks.
OBC Category – 45 Marks.
SC/ST/PH – 40 Marks..
What is the cutoff for APFC in 2012?
Cutoffs for written test (out of 100)
66 | 59 | | Minimum qualifying marks in personality test | 50% | — |
| Marks scored by last candidate in the given category (out of 200) | 133 | 127 |
| Total No. of candidates appeared in the exam | 69002 | 1376 |
.What is the cutoff for APFC in 2012?
The EPFO APFC is a two-stage recruitment process consisting of a written test and an interview.
The UPSC EPFO APFC Notification has been released along with the application fee, exam schedule, exam pattern, dates for online registration, and more..
What is the cutoff for APFC in 2012?
The full form of APFC is Assistant Provident Fund Commissioner..
What is the full form of APFC?
The full form of APFC is Assistant Provident Fund Commissioner..
What is the main motive of auditing?
The prime purpose of the audit is to form an opinion on the information in the financial report taken as a whole, and not to identify all possible irregularities.
This means that although auditors are on the look-out for signs of potential material fraud, it is not possible to be certain that frauds will be identified..
Which book is best for APFC exam?
General Knowledge
Manorama Yearly Book | Mammen Mathew | | Indian Freedom Struggle | India's Struggle for Independence | Bipin Chandra |
| Modern Indian History-NCERT XII | NCERT |
| General Accounting and Principles | Accountancy Class 11th and 12th | NCERT |
.Why audit is important in an organization?
It is to ensure that financial information is represented fairly and accurately.
Also, audits are performed to ensure that financial statements are prepared in accordance with the relevant accounting standards..
- EPFO Enforcement officer(EO)/Accounts Officer(AO) is a Level 8( GP 4800).
Normally inspectors in other departments are' appointed at Level 7( GP 4600).
EO and AO refers to the same person.
When he is handling field related work, he is referred to as EO and when handling Office related work , referred to as AO. - The prime purpose of the audit is to form an opinion on the information in the financial report taken as a whole, and not to identify all possible irregularities.
This means that although auditors are on the look-out for signs of potential material fraud, it is not possible to be certain that frauds will be identified. - What is the nature of auditing? Ans.
Auditing is the process of examining and verifying an entity's financial statements, books of accounts, and processes to ensure their accuracy and compliance with the applicable laws, regulations, and accounting standards.
