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My client has purchased a motorcar this financial…

My client has purchased a motorcar this financial year, how do I, as an auditor verify the same?

My client has purchased a motorcar this financial year, how do I, as an auditor verify the same?

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Chiranjibi Chapagain Mar. 12, 2018

If your client has purchased a motorcar, check the following points to make sure that is authenticate and accurate.

  • Ascertain whether the purchase of car has been properly authenticated.
  • Check invoice of the car dealer to confirm purchase price.
  • Examine registration with Transport Authorities to verify the ownership.
  • Ensure that all expenses relating to purchase of car have been properly capitalized and the same have been disclosed properly in the balance sheet.