The Auditors’ Edition of Tally.ERP 9 presents a powerful tool in addition to Tax audit and Statutory Compliance tools-to perform Statutory Audit. This tool enables an Auditor to analyze the Books of Accounts, discover exceptions, and highlight deviations.
The auditor can also generate the required Financial Statements like the Balance Sheet and Profit & Loss Account as per Schedule VI which needs to be submitted to the stakeholders as per the format prescribed in Company’s act.
HIGHLIGHTS OF STATUTORY AUDIT TOOL
- Flexibility to compare data available in two different Companies
- Present the data in the required format for analysis and Audit
- Highlight specific exceptions
- Step approach to conducting various analysis to find deviations
- Facility to apply sampling methods to filter transactions for vouching
- Provides the facility to perform an audit and provide necessary audit comments
- Functionalities like Cut, Paste, Undo, etc. have been provided to classify/re-classify any default Tally Group/Ledger Balances to prepare the required reports.
- The Statutory Audit tool is divided into three main sections based on the usage