1. Audit Features on Tally9.ERP Together we Can

2. Work of Audit at Chartered Accountants Office  Audit Planning  Co-ordination with the Client for Start of Audit  Allocation of Audit Managers with Audit Team to clients and their schedule  Preparation of Audit Program  Allocation of Work to Audit Team  Test Checking of Data based on previous experience or Previous year Audit Program  Taking report from Audit Managers for progress at Clients place.  Manually checking and preparing report for statutories not complied with by client on time  Manually checking and preparing details of Tax Audit Reports

3. Work of Audit at Chartered Accountants Office- Contd  Any changes done by client in data after checking needs to be traced and verified  Preparation of Balance Sheet and Profit and Loss Account as per schedule VI of Companies Act.  Preparation of 3CD report and its Schedules manually

4. Work of Audit at Chartered Accountants Office - Chaos  Audit Managers Running from Client to Client for completion of Audit as it has to Be completed before 30 th September  Keep Calling staff for progress and then Keep calling client for sending details And send staff for verifying details

5.  Prepare draft balance Sheet send to client for approval, or receive draft balance sheet from client and ask the staff to trace the balance sheet.  Completely check and trace all the statutory payments as we have to report for the same. Work of Audit at Chartered Accountants Office – chaos… contd

6. Benefits of Audit using Computerised Environments Tally.Erp9 has come out with Auditor version on Tally which helps the auditor to complete audit more systematically and with less chaos. Initially when the system is new it may give a feeling that it is more tedious than TDS but with a little initiative and keeping in mind our nature, which likes to learn new things it would work out smoothly. How important is access to information technology? A World Bank report released earlier this year found a very high correlation between the rate of technology progress and income growth. According to that report "Technological progress [distinguishes] fast-growing developing economies and slow growing ones. It also distinguishes economies that have made great strides in reducing poverty and those that have been less successful." Bill Gates

7.  Tally.ERP9 offers a special Gold Auditors’ Edition, which provides Audit & Compliance capabilities, exclusively for Chartered Accountants. The Auditors’ Edition provides the following tools for Chartered Accountants: Tax Audit Statutory Audit Statutory Compliance  These tools will help in retrieving the relevant information and present them in the required form to help the Auditor to form the opinion. Using Tally.ERP9, Chartered Accountants can provide the Audit and Compliance services to their clients in the following three scenarios: Audit at Chartered Accountant’s office by accessing local data Audit at Client’s place by accessing local data Audit Remotely by accessing Client’s data from anywhere Benefits of using Audit Compliance Tool of Tally where clients books are maintained on Tally

8.  In addition to Features like Tax audit, Statutory Audit and Statutory Compliances it has following features Audit Program Audit Analyses Tools for comparision Inbuilt Audit query Sheet for recording error. This will give an overview of how many queries are pending at any given point of time. Fixed Asset Analysis Related party Transaction. One time mapping of Related party in Master and we can get the report on the click Periodic Payment and Receipt details etc… Benefits of using Audit Compliance Tool of Tally where clients books are maintained on Tally

9. After entering data click Here How to set up Audit Features at Client –One Time Process First create Rights for Auditors to Login at Clients Place: This is created by client By Login in Control Centre by pressing Ctrl+K Select User Management and Click Here following Screen will come Create Auditor Login. The Tally.Net ID should be the same which is used for Loading Tally at your Office.

10. How to set up Audit Features at Client –One Time Process –Contd… The passoword for the Auditor will come in email on the id written in Tally.NetID In Security control Panel at the client Company create user as under : ABC Demo Co Process at client when audit wants to connect over the net. Click F4: Connect (C) Connected Company Connected Successfully ABC Demo Co ABC Demon Co

11. Process at Auditors Side for connecting to Company at Client Side. Auditors need not have license copy of the tally on their laptop. Tally in educational Mode will also be fine. In Educational mode following screen will come at startup Please Select Login as Remote Tally.net user and press enter. Following screen will come After putting Password And pressing enter following Screen will come After you select the company following screen will come on pressing enter ABC Demo Company ABC Second Company XYZ Demo Company BCD Third Company As Auditor you will get the following Menu : Audit & Compliance ABC Demo Co

12. Capabilities of Auditors Version on Tally.Erp9 After pressing enter on Audit and Compliance we will get the following screen On pressing enter on 44AB Audit Menu we will get Following screen If proper entries are made by client then all the details Required under section 17(h), 18, 21,24(a), (b), 27 Will be available in this

13. Capabilities of Auditors Version on Tally.Erp9 …. Contd. Select Form 3CD and Press Enter following Form will come Fill up all the details required in form 3CD After filling up all the details press alt-P for Print and press enter 3CD report will be printed as follows Details under annexure 1 Also can be printed from This report

14. Capabilities of Auditor version Tally.ERP9…. contd Audit Programme for Statutory Audit When we press enter on Audit Programme we get the Following screen When we set /Alter Client and Auditors Details to Yes and Press Enter we get the following Screen On setting the data we will go back to earlier Screen and we have to set other details After filling all the required details Press enter and it will save the data

15. Capabilities of Auditor version Tally.ERP9…. contd Audit and Analysis for Statutory Audit Go to Audit & Analysis and Press Enter. Following Screen Will Come We will first have to set Sampling Methods To Set Sampling Methods Press Ctrl-F9 and following Screen will come Select Sampling Methods and press Enter we will get following Screen After taking the Cursor to the Group of Accounts and Pressing enter following screen will come Select the Sampling method and press enter After selecting the method press Ctrl A to accept After saving we will see this Screen. From here when we press Escape we will see the same in other format Audit Can be done from here only Take the cursor to sampled and press Enter. Following screen will come Select the Direct Exp group and Press enter the following screen Will come Select the Ledger and press Enter you will get following screen Press enter and following Screen will come Select the appropriate action if proper select Audited, if querry is there then select need clarification, of if u feel some problem in voucher select under observation

16. Capabilities of Auditor version Tally.ERP9…. contd Audit and Analysis for Statutory Audit Reports that Senior Auditor can see from office or any where without running around From this report Senior Audit Manager can see that total Vouchers Are 8, Completely Audited are 3 and 2 Vouchers are pending. In Sampled Voucher column it can be seen that figure is given 2(3). It means total vouchers 5 sampled out of which two is pending and Three is audited. When he takes the cursor to that account and in Sampled voucher and presses enter he will get following report The Senior Auditor can know how many queries are there, and reason for queries without having to call the audit team to office or his going at clients place. Pressing escape he will come back to the following screen Senior Auditor/Partner would like to know how many Vouchers are there what is quantum of sampled and its Percentage. How many are audited and how many needs Clarification. This he can see without even moving from Office or calling up his staff. Monitoring of progress Becomes easier

17. Capabilities of Auditor version Tally.ERP9…. contd Audit and Analysis for Statutory Audit There are various Reports / comparision that Senior Auditor can verify during The course of Audit In Audit Analysis there is a Key Alt+F10 when the same is press this screen Will come on the screen From this screen we see that there are Many reports available for Auditors To compare the data of the client. We will Select Analytical Procedures and press Enter. Following screen will come On selecting the group and pressing Enter we get following screen

18. There are so many other exciting features That one would be amazed by the Capabilities of Audit on Tally.Erp9. Tanay Solutions H-36 Lokmanya Complex, Behind Godrej Collesium, Everard Nagar, Sion (E) Mumbai : 400022. Tel : 022-24044625/26- 022-32919031 Email : info@apshah.com