Share and deposits, Auditing

Assignment Help:

Share and deposits

Shares may consist of subscription shares and paid up shares. Interest on shares might be credited to the accounts rather than being paid to ensure proper control the following must be covered by the system:

1) There should be proper custody of unused share and deposit pass book, receipt forms and share certificates;

2) There should be proper instructions to the staff as to the making of entries in the pass books and the issue of receipts;

3) Withdrawal terms, notice and specimen signatures;

4) Authorization of withdrawals by the ledger department or against the pass books;

5) Records of deaths, marriages, powers of attorney and transmission of shares and deposits;

6) The comparison of the balance shown in the pass book with that shown in the ledger.


Related Discussions:- Share and deposits

Control over fixed assets.., internal control procedures to be put in place...

internal control procedures to be put in place when purchasing a motor vehicle

Indications of inapplicability of going concern, Indications of inapplicabi...

Indications of inapplicability of Going Concern Unfortunately, Insolvency is a development industry as the economy suffers a down turn and consequently for a majority of enter

Statutory audits, Statutory Audits The audits are compulsory below s...

Statutory Audits The audits are compulsory below statute in the case of a large amount of number of undertakings involving the following as:        Undert

Who is wal-mart''s external auditor?, Wal-Mart Locate the 2009 Form 10-K fo...

Wal-Mart Locate the 2009 Form 10-K for Wal-Mart in Appendix A and consider the following questions: 1. With respect to the report of the external auditors to "the Board of Directo

Statutory and non-statutory audit reports, Explain the purpose and content ...

Explain the purpose and content of a statutory audit report. Explain what recommendations you would make to the case study business Statuary and Non- Statuary audits In

Relevance of ias / ifrs to auditing, RELEVANCE OF IAS / IFRS TO AUDITING ...

RELEVANCE OF IAS / IFRS TO AUDITING The auditors should involve in their report that their view on whether the financial statements they report are true and fair view. It is comm

Auditor''s procedures - going concern, Auditor's Procedures - Going Concern...

Auditor's Procedures - Going Concern In forming a thought on the going to relate position of a company, the auditors have to: a) Examine the company, its plans for the futu

Verification, discuss the verification procedure of current assets and long...

discuss the verification procedure of current assets and long term liabilties

Related party transactions, Related Party Transactions Related party t...

Related Party Transactions Related party transactions-a transfer of obligations or resources among related parties, regardless of whereas a price is charged. A party is rel

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd