Audit controls in relation to fixed assets:
1- Control of authorized signatures of accounting documents
2- Checking the correctness of calculations
3- Controlling with this letter the separation of current expenses from capital
4- Control with the request for purchase of goods/services
5- Control with the seller’s invoice
6- Controlling the sealing of documents with a
7- Control with warehouse remittance slip. Receipt of direct remittance
8- Controlling the company’s transactions with this letter
9- Controlling legal deductions (insurance and taxes) from fee works
10- Controlling the relationship between capital costs and the company’s activity
11- Checking the adequacy of documents and positive documents
12- Controlling the connection of the cost with the financial period
13- Validity control of positive documents
14- Checking the correct registration of the account and the account side of the accounting document
15- Controlling the capital costs of having a contract with the terms of the contract and extracting the summary of the contract
16- Control of the assets in the process of completion according to the forecast and the work done in terms of real and physical
17- Controlling the percentage of physical improvement of the assets in the process of completion with the received reports that have been approved by the technical department and authorized authorities.
18- Controlling the determination of possible liabilities from the place of creation of assets (insurance, taxes…)
19- Controlling the calculation of salary expenses. overhead and consumer goods, the cost price of the assets built in the company
20- Controlling having instructions for the transfer of assets in the process of completion to fixed assets and preparing minutes of the meeting of completion and transfer and transformation of assets in the process of completion (with the signature of the technical officials of the company and the completer (builder) whose construction has been completed and issuing an accounting document for the transfer to fixed assets
21- Controlling specifying the date of use of the assets under construction completed in order to account for the cost of depreciation
22- Controlling the separation of the price of the field (land) and the property (building) from each other and presenting them separately in the table of notes of fixed assets according to the financial statements
23- Control of having a list (office) of property
24- Control of having asset repair card (machines, buildings, vehicles, etc.)
25- Controlling the calculation of reserves for stolen and lost assets
26- Controlling identifying the unused assets and calculating the depreciation cost equivalent to 30% of the depreciation rate stipulated in Article 151 of the Civil Code and asking the officials about the reason for not using the stagnant assets and making a decision in connection with the relevant issue.
27- Asset insurance coverage control:
Completed price – Book value – Insured value according to the insurance policy = plus (minus) insurance coverage
28- Controlling the consumption rate included in the financial statements with the rates used in the company (control as a sample) and the provisions of Article 151 Q. M. M
29- Checking selected sample items according to the relevant checklist
30- Visual observation of land ownership documents. building and vehicles and placing their copies in the permanent file and updating them in each investigation period
31- Controlling the extraction of sold items and checking the correctness of the calculations made in connection with them:
Cost price – depreciation reserve – book value – selling price = profit (loss)
32- Control of consumption reserve additions with consumption cost
33- Preparation of summary statement of additions of fixed assets and assets in the process of completion
34- Controlling the objective observation of vehicles and performing the necessary controls according to the relevant checklist
35- Control of the finished price and depreciation reserve according to the books with the finished price and depreciation reserve according to the property statement (property book) at the end of the period
36- Receiving and controlling the list of scrapped assets according to the property book and removing their cost price from the books
37- Control of compliance with this executive letter, Article 138 M. M. In connection with the projects of development plan and capacity increase
38- Controlling the extraction of the purchase system and the creation of assets in the process of completion and placing them in the permanent file
39- Derivation of capital obligations as follows:
Contract amount – fixed capital expenses = capital commitments
Financial Tax Group of Iran Consultants Authority
Link to the financial tax group of Iranian consultants
https://t.me/joinchat/AcpK2knYpIN_CP3_3lJXcw
This post is written by Arambnamkhda