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AUDIT MARKINGS

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by

santoshi choudhary

on 26 August 2013

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Transcript of AUDIT MARKINGS

The following are the class of transactions requiring special ticks....
carry forward...
BANK STATEMENT
VOUCHING...
AUDIT MARKINGS...!!
pic
1.The auditor should use special ticks for each class of transactions being checked. 2.Tick marks are abbreviations 
and symbols used by auditors to  document the work they have  performed.
3.Each firm has its own unique  set of tick marks, however, most 
are common.
They may be in the
form
of geometric designs ,alphabetic letters ,numbers etc...
POSTING
The process of transferring entries from journal of original entry to a ledger book
precautions...
1.The same ticks should not be use for the same transactions in all the firms.
2.The system of the ticks adopted
should not be explain
to the
client staff
.
3.
Different colors
must be use to distinguish the period of time.
4.The tick marks must be small and distinctive.

3.Audit markings provide
evidence of the work
performed by him.
4.A transaction which has already been
examined
by the auditor
cannot be produced
before him
in support of any other transaction.
Casting
It is essential that arithmetical accuracy be checked so that fraud or error(if any) may be detected.
To add on(a number from one column of figures to the next)
It is a summary of financial transactions which have occurred over a given period of time .
It is a technical term which refers to the inspecting of documents by an auditor.
5.vouching must be done by two audit clerk together
6.the tick marks mad by the external auditor must not be at the same place where the internal auditor has made them.
7.each section of work must be completed upto a certain point otherwise chances of mistakes increase
8.all important totals,balances must be noted in audit note book
auditor should not accept any figures in pencil.figures in pencil can be tampered(changed) very easily.therefore he must insist on figures being written in ink.
why audit markings are used:
1.Markings help the auditor to
establish the extent of work performed
by the
audit staff
.
2.These markings
help in distinguishing entries
in the books of a/c's which are already examined from those which have not been examined.

Illustrated markings:
/
=
totals checked
*
=
carry forward
@
=
posting of entries
checked
thank you mam for giving us such an opportunity...!!
Nikita
Santoshi
Neha
Shivani
Nandini
Priyanka
Bhargavi
Roopa
Shailaja
Navya

introduction...!!
Full transcript