SCOPE OF VERIFICATION

Verification includes information on the following:-

1. That the assets were in existence on the date of the balance sheet.

2. That the assets had been acquired for the purpose of business only.

3. That the assets had been acquired under a proper authority.

4. That the right of ownership of the assets vested in the organization.

5. That the assets were free from any charge.

6. That the assets were properly valued and disclosed in the balance sheet.