Statutory Audit Dashboard

To view the Statutory Audit Dashboard

Go to Gateway of Tally > Audit & Compliance > Audit & Analysis.

The Statutory Audit Dashboard is divided into two parts:

Data Analysis

Data Analysis section provides the tools that facilitate the auditor in auditing Client's data, and other users in conducting internal audit of their financial data. These tools help identify exceptional areas, and thereby ease the process of verification. The tools available in Tally.ERP 9 for Data Analysis are:

Verification Complete? column displays the completion status for each of the above tools as marked by the Auditor using the F9 button.

Auditing

This section provides the facility to Vouch various transactions. This report can help Vouching of various transactions e.g. Receipts, Payments, Bank entries, Contra entries etc. The Auditor can apply the required Sampling Method to reduce the number of transactions that needs to be Vouched from the list of Sampling methods available.

The Auditing section also displays the count of the sampled Vouchers along the percentage of sampled Vouchers and Audited Vouchers. It also displays the bifurcated count of sampled vouchers, based on Voucher Type- and Ledger-Wise.

Note: The % in the Total column shows the Sampled to Total percentage and in the Audited Column it shows Audited to Sampled percentage.

In addition to these, the Auditor can also Vouch the transactions belonging to Related Parties, Forex Transactions, Outstanding Payments from MSME's and Salaries and Wages Payments.

Button Options in Statutory Audit Dashboard screen

F2: Period

Click on F2: Period or press F2 key, to change the Audit Period selected.

Ctrl+F3: Compare Cmp

Click on Ctrl+F3: Compare Cmp or press Ctrl+F3 keys to load the Company that contains the data for the year prior to Audit period.

Note: This is required if the Client has split the company before the start of the Audit year.

This may also be needed if the Auditor has taken the data backup separately after the Audit for the previous year (year before the Audit year).

 

Note: For the Company with two years data system will check for the Vouchers passed on 31st March to determine the Audit Year. Previous Year Company Name will display as Not Applicable in this case.

The Previous Year Company name will appear on the dashboard as shown below:

F9: Verify

To save the Verification Status for the required Data Analysis tool, click on F9: Verify or press Alt+F9 keys to mark the Verification Complete status to Yes. The same will appear in the Verification Complete Column for each Data Analysis tools.

Note: The Data Analysis tool for which the Verification Status needs to be saved, should be selected first by using Space Bar key.

Ctrl+F9: Master Config

Click on Ctrl+F9: Master Config or press Ctrl+F9 keys to identify the parties as MSME, Related Parties, Periodic Ledgers and apply Sampling methods for Auditing.

W: Working Note

Click on W: Working Note or press Alt+W keys to specify the working note details at Company or Group or Ledger or Voucher or Stock Item or Stock Group Level. The details provided in working note will be captured in Audit Working Paper along  with the details of User Name, Working Note Date & Time, Status, Note etc.

In Working Note Details screen:

Ctrl+W: Audit Wkg Paper

To view the Audit Working Paper during the Auditing, click Ctrl+W: Audit Wkg Paper or press Ctrl+W keys. The details displayed in Audit Working Paper will be relevant to report from where it is triggered.

V: Vouching Done

Click V: Vouching Done or Alt+V to mark the audit completion status for all Vouchers. Once the Vouching Done is marked as Yes, the system will track any changes made to any Voucher  or any new voucher created and display those Vouchers under Altered column of Verification of Vouchers.

Note: The Vouching Done can be marked as Yes only if there are no Vouchers in the Altered column for Verification of Vouchers.

F9: Inv Reports

Click F9: Inv Reports or press F9 keys to navigate to the default Inventory Reports like Godown Summary, Movement Analysis, Stock Summary and so on.

F10: Acc Reports

Click F10: Acc Reports or press F10 keys to navigate to the default Accounting Reports like Balance Sheet, Cash Flow, Trial Balance and so on.

F10: Audit Reports

Click F10: Audit Reports or press Alt+F10 keys to navigate to the other Audit Reports within Statutory Audit report.

Note: For simplification of understanding the following terminology will be used for Statutory Audit.

 

Audit Period/Current Year: Year for which Audit is happening.

 

Previous Year: Year prior to the Audit Year.

 

e.g. if Audit is happening for 2011-2012 then 2010-2011 will be Previous Year.