Scribd
Upload
1K views1 page

Statutory Audit & Its Features

A statutory audit is a legally required review of a company or government's financial statements and records to determine if they provide an accurate representation of the organization's financial position. Tally.ERP 9 provides tools to help conduct statutory audits systematically and efficiently. It allows users to create an audit program, prepare working papers, extract required financial data, analyze trends, audit vouchers and transactions, apply sampling methods, generate financial statements, and track post-audit changes.

Uploaded by

kavyasri kavya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
1K views1 page

Statutory Audit & Its Features

A statutory audit is a legally required review of a company or government's financial statements and records to determine if they provide an accurate representation of the organization's financial position. Tally.ERP 9 provides tools to help conduct statutory audits systematically and efficiently. It allows users to create an audit program, prepare working papers, extract required financial data, analyze trends, audit vouchers and transactions, apply sampling methods, generate financial statements, and track post-audit changes.

Uploaded by

kavyasri kavya
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

What is a Statutory Audit?

A statutory audit is a legally required review of the accuracy of a company's or government's


financial statements and records. The purpose of a statutory audit is to determine whether an
organization is providing a fair and accurate representation of its financial position by examining
information, such as bank balances, bookkeeping records, and financial transactions.

Features of Statutory Audit

Tally.ERP 9 provides a comprehensive tool to perform the Statutory Audit in a systematic


process. The tool provides step-by-step approach to conduct an Audit on the given data in the
fastest possible manner.

With Tally.ERP 9's Statutory Audit tools, the user can:

 Create and maintain an Audit Programme

 Prepare and maintain Audit Working Papers

 Mark the applicable and complied Accounting Standards and Audit & Assurance
Standards for a company.

 Extract the financial information required for Statutory Audit

 View relevant data in the required form for analysis

 Analyse data by comparing it with previous year's data

 Audit Vouchers along with instant statistics

 Track and audit the Related Party, MSME and Forex transactions

 Apply various Sampling Methods

 Audit and interact with the Client remotely

 Generate the following Financial Statements as per the format specified in Companies
Act:

o Schedule VI Balance Sheet

o Schedule VI Statement of Profit and Loss

 Track the post-Audit changes if any

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy