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Transcript of AUDIT MARKINGS
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
They may be in the
of geometric designs ,alphabetic letters ,numbers etc...
The process of transferring entries from journal of original entry to a ledger book
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
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
by the auditor
cannot be produced
in support of any other transaction.
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
help in distinguishing entries
in the books of a/c's which are already examined from those which have not been examined.
posting of entries
thank you mam for giving us such an opportunity...!!