Is it mandatory to keep bank statements ready for the audit?
Is it mandatory to keep bank statements ready for the audit?
Yes, it is mandatory to keep all relevant bank statements readily available during the audit. This is essential for ensuring transparency and compliance with regulatory requirements.
It is mandatory to provide all bank account statements to the auditors during the audit. Typically, statements for the last 6 months (or as specified by the audit team) should be kept ready and up to date.
Bank statements are required from the date of the last audit up to the date of the current audit. Ensure all statements within this period are complete and readily available for review.
Yes, all current accounts, regardless of the business line they are associated with, must be disclosed during the audit. Full transparency is required to ensure compliance.
A questionnaire in Word format will be emailed to you. You are required to fill it out, sign it, and send it back along with the following documents: Bank account statements (last 12 months) Demat account statements (last 12 months) The auditor will ...
The standard audit frequency for all APs is once every 2 years. However, an annual audit becomes mandatory if the AP meets any of the following criteria: 1. Falls within the top 50% of registered APs or branches based on turnover from the previous ...