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Name
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Prepared
by: |
File
ref: |
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Year end: |
Reviewed by: |
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Subject: VAT reconciliation |
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Objective |
To ensure that VAT is properly recorded and paid. |
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Method |
Obtain all VAT returns in the year. Compare total sales on returns to turnover recorded in the accounts. Select the last VAT return for the year. Agree to the VAT summary or report for that quarter. Agree the amount paid to the VAT control account balance for the end of that quarter. If the return date does not correspond to the year end date, agree the VAT report/summaries used to prepare returns for those months to the balance on the control account. Agree the payment or receipt after the year end to the return. |
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Result |
Page ref: Comments: |
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Conclusion |
According to the audit work performed, the objective has been met/has not been met. Problems recorded: |
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©Lynnix (UK) Ltd 19
Oct 2007