Obtain fixed asset register and reconcile with general ledger
Verify additions during the year with invoices and approvals
Verify deletions/disposals with board approval and sale documents
Test depreciation computation as per Companies Act / applicable framework
Perform physical verification of sample assets
Verify title deeds for immovable properties
Check impairment indicators as per AS 28 / Ind AS 36
Obtain schedule of investments and reconcile with ledger
Verify existence via demat statements / share certificates
Check valuation as per AS 13 / Ind AS 109 / Ind AS 28
Verify any permanent diminution / impairment in value
Attend physical inventory verification and observe count procedures
Test valuation of inventory (lower of cost or NRV)
Obtain inventory ageing and check provision for slow-moving/obsolete items
Obtain confirmations for inventory held at third-party locations
Perform cut-off testing for purchases and sales
Obtain ageing schedule and reconcile with ledger
Send balance confirmations to sample debtors
Test expected credit loss / provision for doubtful debts
Verify subsequent receipts from April bank statement
Obtain bank confirmations for all bank accounts
Verify Bank Reconciliation Statements as at year end
Perform physical cash verification (surprise check where possible)
Verify Fixed Deposits with original FDR / bank confirmation
Verify authorised and issued capital from MCA master data
Obtain list of shareholders/partners as at year end
Verify movements in reserves and surplus
Obtain schedule of borrowings; obtain confirmations from lenders
Verify interest computation and TDS compliance
Check bifurcation between current and non-current portion
Verify security / charge creation with MCA records
Obtain ageing schedule and reconcile with ledger
Send balance confirmations to sample creditors
Identify MSME parties and verify Section 43B(h) disallowance
Verify subsequent payments from April bank statement