In the main record keeping audits are targeted at small/medium sized businesses. This paper summarises, in seven pages, the type of questions typically asked by the Australian Taxation Office Auditors in a record keeping audit.
Comments are presented under the following headings:
- Receipts
- Cash Register Tapes
- Suppliers’ Invoices
- Sales Invoices
- Quote Book
- Job Sheets
- Debtors
- Petty Cash
- “Cash” Expenses
- Cash On Hand
- Expenditure Review
- Copies Of Invoices
- Suppliers’ Payments
- Commission
- Motor Vehicles
- Expense Estimates
- Capital Expenditure
- Private Expenditure
- Banking/Investments
- Cheque Butts
- Deposit Books
- Bank Statements
- Credit Cards
- Daily Takings Reconciliation
- Bankings
- Employees
- Fringe Benefits Tax
- Accounting Records
- Financial Matters
- Stock
- Tax Return Preparation
