Practical Auditing a Working Manual for Auditors Describing the Details of a C
Practical Auditing a Working Manual for Auditors Describing the Details of a C
George Benton Renn
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All such invoices and memoranda should be stamped "Aud- ited" when checked against entries. By thus checking a portion of the entries, those remaining unchecked will be brought more conspicuously to your notice when reviewing the book, and any unusual or exceptional items thus discovered should then be investigated. It should be noted in this connection that, where credits to customers have been made without a definite O. K. , the receipt side of the cash book should be vouched by checking cash... re- ceipts against the deposit slips of the period under audit. Analyze columnar charges to expense or capital accounts. Check general ledger items, and footings of columns posted in totals, into general ledger. Post footings of personal ledger columns into Controlling Ac- count. 25 Review and Conclusion of the Audit. After you have inspected all books of original entry proceed to examine the ledgers. Inspect the personal ledger trial balance to determine that all debtors' accounts have been approved ''Correct/' or differences reconciled, through statements previously sent out ; That all liabilities, as determined by statements requested from trade creditors, appear upon the books ; That the total of the personal ledger trial balance agrees with the independent Controlling Account which you have kept throughout the audit; and that the Controlling Account (if one is kept) upon the general ledger, in turn, agrees with yours.
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