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Substantive Audit tests -Aspects of LFAR

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1 Substantive Audit tests -Aspects of LFAR
CA.KIRAN KUNTE B.Com, FCA, DISA, Cert.IFRS, LL.B, Qualified Insolvency Professional [ IIIP of ICAI]

2 LFAR 100% BEING CBS …. CASH LEVEL OF COMPUTERISATION..
IS THIS IS THE RIGHT ANSWER ?

3 BOOKS AND RECORDS

4 P& L a/c Whether there exists a system to verify Interest application and for timely adjustment thereof ??

5 OFFICE ACCOUNTS Sundry Debits, Clearing Suspense, Sundry deposits, Cash shortfall, Parked accounts- Unsettled /bounced NEFT etc.. [DR] Rear end subsidies. [CR]

6 JILANI COMMITTEE Various tests to be carried out to ensure that EDP APPLICATION have resulted in CONSISTENT and RELIABLE SYSTEM of Inputting, processing and generation of OUTPUT

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