The highlights of this release are listed below :

Audit Working Papers

In a live audit scenario, Auditors have to manually record their comments. The Audit Working Paper (AWP) feature in Tally.ERP 9 Auditors’ Edition eliminates this manual-entry.

Track Transactions on Holidays & Weekly Offs

Auditors can now check for transactions which are entered by the client on holidays (weekly offs- viz., Sunday & National/State/Bank Holidays).

Inter Bank Transfers

This feature provides visibility to fund transfers from one Bank to another, allowing the Auditor to investigate frequent instances.

Unadjusted Advances

The Unadjusted Advances feature gives an overall report of the status of ledgers having pending advance receivables.

Highest & Lowest Value Transactions

Transactions of any kind can either be consistent or near – consistent over a period of time; they should not fluctuate wildly. This feature allows Auditors to analyse the top High and/or Low ‘X’ (eg: 5 or 10) number of transactions.

Accounts squared off during the year

This feature in Tally.ERP 9 Auditors’ Edition will help the Auditor track transactions which do not have an opening balance or a closing balance, i.e. balances which are squared off in the financial year.

Checklist of Accounting Standard (AS) Compliance

The Checklist of Accounting Standard (AS) Compliance feature in Tally.ERP 9 Auditors’ Edition lists all the standards as per the Accounting Standards Board (ASB); Auditors can check if their clients comply.

Checklist of Audit & Assurance Standard (AAS) Compliance

Tally.ERP 9 Auditors’ Edition provides a complete list of Audit & Assurance Standards (AAS). These benchmarks are used to measure the quality and the objectives achieved in audits.

Percentage report of sample size for substantive test

The Percentage Report dashboard in the Auditors’ Edition provides a list of vouchers sampled along with the percentage of the sampling methods adopted for each of them.

Cash Withdrawals/Deposits to Bank

Cash Withdrawals and Deposits are scrutinised based on their respective dates recorded in the books. Tally.ERP 9 Auditors’ Edition helps Auditors track and review irregularities in such transactions.

Stale Cheques/Instruments

When cheques have not been deposited into the Bank or not cleared within a specified time-frame, they are called Stale Cheques/Instruments. Tally.ERP 9 Auditors’ Edition introduces this feature which lists all such instruments for the purpose of scrutiny by the Auditor.

See the complete release notes here.

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