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AUDIT REPORT PART3 SCHEDULED Computation of net turnover of sales liable of tax Particulars As per Returns (Rs.) As per Audit (Rs.) Difference 2 Sr. No. 1 3 4 5 1 Gross turnover of sales including,

How to fill out audit report part-3 schedule-ii

How to fill out audit report part-3 schedule-ii:

1. Start by gathering all the necessary financial data and records required for filling out the audit report part-3 schedule-ii.
2. Review the instructions and guidelines provided by the auditing authority to understand the specific requirements for filling out the schedule-ii.
3. Begin filling out the schedule-ii by providing the necessary identification information, such as the name of the auditee, date of the audit, and unique identification number.
4. Proceed to fill out the details of the auditee's financial transactions, including revenues, expenses, assets, and liabilities, as per the given sections in the schedule-ii.
5. Ensure that the financial information provided is accurate and supported by the relevant evidence and documentation.
6. Make sure to include any additional disclosures or explanatory notes as required by the auditing authority.
7. Double-check all the information filled out in the schedule-ii for any errors or omissions before finalizing the report.
8. Sign and date the completed audit report part-3 schedule-ii, indicating your acceptance of the accuracy and completeness of the information provided.

Who needs audit report part-3 schedule-ii:

1. Audit firms: Audit report part-3 schedule-ii is essential for audit firms while conducting audits of different organizations. It helps them collect and document financial information accurately during the audit process.
2. Government authorities: Government agencies responsible for monitoring financial compliance may require audit report part-3 schedule-ii to assess the financial performance and practices of organizations.
3. Regulatory bodies: Regulatory bodies often use audit reports to evaluate the adherence of organizations to financial regulations and internal control standards. Audit report part-3 schedule-ii provides important insights into financial transactions and helps regulatory bodies ensure transparency and accountability.
4. Stakeholders: Stakeholders such as shareholders, investors, and lenders may request audit report part-3 schedule-ii to assess the financial health and performance of an organization before making investment or lending decisions.
5. Auditees: The auditee organization itself may require audit report part-3 schedule-ii for internal record-keeping, compliance, and decision-making purposes. It helps them understand their financial position, identify areas for improvement, and assess their performance over time.

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What is audit report part-3 schedule-ii?

Audit report part-3 schedule-ii is a specific section of the audit report that provides detailed information about the financial statements of a company.

Who is required to file audit report part-3 schedule-ii?

Companies that fall under the jurisdiction of regulatory bodies or government agencies are required to file audit report part-3 schedule-ii.

How to fill out audit report part-3 schedule-ii?

Audit report part-3 schedule-ii should be filled out by a qualified auditor who has thoroughly reviewed the company's financial statements.

What is the purpose of audit report part-3 schedule-ii?

The purpose of audit report part-3 schedule-ii is to provide an independent assessment of the accuracy and reliability of a company's financial statements.

What information must be reported on audit report part-3 schedule-ii?

Audit report part-3 schedule-ii must include details on the company's financial position, performance, and cash flows.