Practical Audit Program
Problem
Best for generating a checklist for field staff or articles to use during an actual audit.
Prompt Input
"Create a detailed Audit Program/Checklist for a Private Limited Company engaged in manufacturing. Focus on the verification of the following Balance Sheet items: Inventory: Valuation and physical verification. Fixed Assets: Depreciation (Schedule II) and title verification. Trade Receivables: Ageing analysis and provisioning. Borrowings: Compliance with Section 185/186 and charge creation. For each item, list the specific assertion being tested (Existence, Completeness, Valuation) and the audit procedure to be performed."
Prompt Output
This program is tailored for a Manufacturing Private Limited Company and is structured to link specific Audit Assertions with the necessary Audit Procedures.