Please guide how I should audit the Personal expenses of directors met by the company.
Please guide how I should audit the Personal expenses of directors met by the company.
Chiranjibi Mar. 09, 2018
Consider this checklist to audit the personal expenses made by the director of a company.
- Check the articles of association, service contract, minutes of general meeting, etc., to check the authorisation for such payment.
- Enquire to ensure that personal expenses are not camouflaged in any other revenue items as contemplated under section 143(1) of the Companies Act, 2013.
- Ascertain compliance with disclosure according to requirements of Schedule III to the Companies Act, 2013.
- Check documentary evidences to examine the payments reimbursed.
