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Please guide how I should audit the Personal ex...

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.

0
Chiranjibi Chapagain 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.

Please guide how I should audit the Personal expenses of directors met by the company.

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