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Check List Of Internal Audit Of A Construction Company

1313 words - 6 pages

Internal Audit Check List Plan
Areas to be covered:-
* Cash Transactions
* Bank Transactions
* Contra Transactions ( Cash & Bank)
* Bank Reconciliation Statements
* Purchase Transactions
* Journal Transactions
* Taxation Matters (VAT, Service Tax, TDS, WCT etc.) Payments & Returns
* Service Vendors Reconciliation (Bills & Payments)
* Clients Reconciliation ( Bills & Payments)
* Contractors Reconciliation ( Bills & Payments)
* Suppliers Reconciliation ( Bills & Payments)
* Labour Mustrolls & Form-11
* Physical Stock Verification
* Material Receipt Reconciliation (with clients & petty contractors)
* Fixed Assets ...view middle of the document...

)
* Verification of procedures of TIN, PAN, Service tax no. & address verification of contractors/suppliers for tax input purpose
* Verification of RG-23A,RG-23C (Part-I & II)
* Verification of correspondence with tax department
* Verification of outstanding tax liability payment
Service Vendors Reconciliation
* Verification of COP
* Verification of tax invoice & challan submitted to service vendors
* Verification of all legal documents (BG, PG, LOI etc.)
* Verification of reconciliation statement with service vendors

Client Reconciliation
* Verification of tax invoice raised to clients
* Verification of reconciliation of clients ledger with our books
* Verification of clients receipts, TDS, Dr./Cr. Notes, Insurance, electricity/water deduction & any holding in certified amount
* Verification of Monthly Joint reconciliation statement
* Verification of interest deduction on mobilization advance

Contractors Reconciliation
* Verification of new contractor registration process
* Verification of bill processed as per work order
* Verification of bill entered in Navision & pending for approval
* Verification of payment done, Dr./Cr. Notes issued to contractors
* Verification of Monthly Joint reconciliation statement
* Verification of NOC received from contractors at the time of full & final settlement

Suppliers Reconciliation
* Verification of new supplier registration process
* Verification of bill processed as per purchase order
* Verification of bill entered in Navision & pending for approval
* Verification of payment done, Dr./Cr. Notes issued to suppliers
* Verification of Monthly Joint reconciliation statement
* Verification of NOC received from suppliers at the time of full & final settlement
* Verification of Monthly Joint reconciliation statement

Labour Mustrolls & Form-11
* Verification of labour Mustrolls (Form-11)
* Verification of payment made to Labourers (Proper sign with revenue stamp)
* Verification of attendance record of labour
* Comparison between attendance record & order placed for labour
* Verification of treatment of unclaimed wages account
* Verification of compliances of various bye-laws applicable to Labourers
* Verification of insurance policy for safety of Labourers

Physical Stock Verification
* Reconciliation of quantity paid to petty contractors with the raised quantity in client bills on monthly basis
* Verification of preparation of RMC & Steel report on daily basis
* Verification & Checking of material escalation
* Monthly Physical stock verification
* Verification of wastage of material vs. idol wastage %
* Verification of sale of scrap booking & TCS entries
* Verification of non-moving/critical material in a location to ensure proper & efficient utilization
* Verification of accounting treatment for transfer of material...

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