MDA Audit Tool is a software which assists the user to perform a systematic and independent examination of books of accounts of an organization using technology.
User can now shift their focus and time on doing an in-depth analysis of the data on the basis of the discrepancies reported by the audit tool.
the records are verified digitally. Which eliminates the possibility of human error.
With the help of audit tool, the time required to track an error is reduced to a very great extent.
Data required to be audited can be imported very easily.
Lightening speed results are displayed just by one single click.
A wide variety of reports available to the users
Debtor Accounts with credit balances.
Debtor Accounts with no entries of sales.
Accounts having entries of sales but not classified as debtors.
Average debtor collection period.
Creditor Accounts with debit balances.
Creditor Accounts with no entires of purchases.
Accounts having entries of purchases but not classified as
Creditors.
Average credit period.
Cash Payment above Rs. 10,000.
Cash Receipt above Rs. 2,00,000.
Accounts which may be hit u/s 269ST.
Highest bank balance during the year.
Lowest bank balance during the year.
Highest no. of bank entries posted during the year (in a day).
The software provides a comparison of the data with the GSTR 2A files as downloaded from the GST website. The GSTIN, Taxable Value, CGST, SGST, IGST accounts are used as the basis for comparison and any deviation is reported. Read More...
Benford's law, is an observation about the frequency distribution of leading digits in many real-life sets of numerical data. The law states that in many naturally occuring collections of numbers, the leading significant digit is likely to be small. For example, in sets that obey the law, the number 1 appears as the leading significant digit about 30% of the time, while 9 appears as the leading significant digit less than 5% of the time. If the digits were distributed uniformly, they would each occur about 11.1% of the time. Read More...
The RSF test is based on chapter 11 of Mark J. Nigrini's book, Forensic Analytics: Methods and Techniques for Forensic Accounting Investigations "In this chapter we compare large amounts to a benchmark to see how large they are relative to some norm, hence the name the RSF test. The RSF test is a powerful test for detecting errors. The test identifies subsets where the largest amount is out of line with the other amounts for that subset. This difference could be because the largest record either (a) actually belongs to another subset, or (b) belongs to the subset in question, but the numeric amount is incorrectly recorded. The RSF test is an important error-detecting test. " Read More...
A report of all the expense accounts is generated by the software to enable month wise comparison to the user. Read More...
A report of all the expense accounts is generated by the software to enable month wise comparison to the user. Read More...
Opening Trial Balance matched with previous year's Trial Balance.
Entries posted on holidays.
Entries posted on weekly off.
Accounts squared up during the year.
Accounts with same opening & closing balance (with transactions during the year).
Accounts with same opening & closing balance (with no transactions during the year).
Fixed Assets with credit balance.
Expenses To Sales Ratio
A detailed report of Unsecured Loans U/s 269SS and 269T as required to be reported in the Form 3CD.
Single or multiple ledgers are available for the user in a single report as and when equired.
The MDA Audit Tool prepares a summary report from the data imported which can be used as a working paper for the audit file. This is a
summary of the no. of groups, vouchers (further classified into types), no. of accounts in the data, no. of debit notes, credit notes, etc.
This can be used to state the no. of records on which audit has been performed.
The software can be used to report the closing trial balance of the client as well.
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