AC414 - Audit and Investigations II - Audit of Payables, Capital and Reserves II
AC414 - Audit and Investigations II - Audit of Payables, Capital and Reserves II
AC414 - Audit and Investigations II - Audit of Payables, Capital and Reserves II
Investigations II
Audit of Dividend
Audit of Capital
Audit of Reserves
1. Audit of Tax Payables
Audit Objectives
VAT liability is
obtained from the
audit of purchases
and sales.
Audit Procedures on VAT
Examine a sample of VAT and
tax returns and re-perform
calculations thereon.
Scan any large or unusual items
and note that the VAT has been
treated correctly.
Review official handbooks in
relation to the company’s trade
and verify that the system
accounts for input tax and
output tax properly.
Continued
Audit objective:
Statutory books –
directors’ and
members’ minute
books, share register
etc;
Resolutions to
redeem, purchase,
issue or forfeit shares.
End