During the audit of Venus Ltd., CA Rajveer found a considerable increase in sales as compared to the previous year. He suspected that a few…

To ensure revenue from sales of goods and services performed during the period is not overstated, CA Rajveer, would perform the following audit procedures: Check whether a single sales invoice is recorded twice or a cancelled sales invoice could also be recorded.Test check few invoices with their relevant entries in sales journal.Obtain confirmation from few customers to ensure genuineness of sales transactionWhether any fictitious customers and sales have been recorded.Whether any shipments were done without the consent and agreement of the customer, especially at the year end to inflate the sales figureWhether unearned revenue recorded as earned.Whether any substantial uncertainty exists about collectabilityWhether customer obligations are contingent on other actions (financing, resale etc.)