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?
Chiranjibi 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.
