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November 2022

Audit Documents

By C. N. Vaze, Chartered Accountant
Reading Time 4 mins
Shrikrishna: Arjun, all set to enjoy Diwali?

Arjun: We are not that lucky, Lord! Compliances are not leaving us. Filing of tax returns will continue till the end of October.

Shrikrishna: That’s OK. But overall, you must be free.

Arjun: True. Since the financials and audit reports have been uploaded, the volume of work is under control.

Shrikrishna: So, it was good that the date was not extended. Right?

Arjun: I agree. “Ek bar yeh khatam ho jata hai to achha’. Some day or the other, we only need to do it. And even if we get more time, last-minute pressures cannot be avoided.

Shrikrishna: Now Arjun, listen carefully. After the uploading is done, you people always relax. You totally forget that many things need to be done at this point.

Arjun: I did not understand. What is to be done now?

Shrikrishna: Arjun, this is the most crucial time when you have to organise all your audit files and records. Are you sure whether the books of all clients have been properly closed?

Arjun: Oh! That reminds me. In many balance sheets, we have given effects outside the books, in Excel. We have yet to pass entries in Tally!

Shrikrishna: And what about working papers?

Arjun: Ah! Working papers, we never keep! We do all corrections there and then.

Shrikrishna: Do you have the appointmen
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