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Microlesson · 5-min read

Audit of Other Expenses

## Audit of Other Expenses

### Overview

For any expense that does not fall under a specific head (payroll, depreciation, etc.), the auditor verifies it against six core attributes. All six must be satisfied for the expense to be accepted as properly recorded.

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### Six Attributes — Mnemonic: C R A B S C

#AttributeKey Question
CCurrent YearDoes this expense pertain to the current accounting period? (cut-off test)
RRevenue, not CapitalIs this revenue expenditure — not a capital purchase or improvement?
AAuthorisedWas it authorised by an official with appropriate authority?
BBusiness PurposeIs the expense related to the entity's business — not personal in nature?
SSupporting DocumentsAre valid vouchers, invoices, or bills available as evidence?
CCorrect ClassificationIs it classified under the correct expense head in the books?

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### Practical Audit Approach

1. Refer to the main books (cash book, journal, ledger) to select a sample — focus on large, unusual, or non-recurring items.

2. For each sampled expense, verify all six attributes.

3. For capital vs. revenue distinction, check the nature of the benefit: if it creates/extends an asset's useful life → capital; if it merely maintains current capacity → revenue.

4. For authorisation, trace to the authority matrix or approval email chain.

5. Match supporting documents to entries; watch for missing invoices, photocopies, or dates that do not match the period.

Worked example

### Example 1

Capital vs Revenue Classification:

Entity spends ₹5 lakh on 'Repairs to Factory Roof.' Auditor checks the nature of work:

  • If roof was replaced entirely → Capital expenditure (creates/enhances asset) — should be capitalised, not expensed.
  • If roof was patched/maintained → Revenue expenditure — correctly charged to P&L.

Auditor examines the contractor's invoice and site inspection report to determine the correct treatment.

### Example 2

Cut-off Test — Current Year Attribute:

An expense of ₹80,000 for consulting services appears in March 2024 books. The invoice date is April 2024 (next year). Auditor identifies this as a cut-off error — the expense belongs to FY 2024-25, not FY 2023-24. It should be reversed from the current year.

⚠️ Common exam mistakes

  • Accepting an expense as 'authorised' based on verbal approval — written authorisation from an official of appropriate authority is required.
  • Missing the capital vs. revenue distinction — especially for repairs, upgrades, and software costs.
  • Ignoring cut-off: expenses booked in the wrong period (pre-paid or accrued) distort the P&L.
  • Not checking if a personal expense (director's personal travel, household items) has been routed through the entity's books.
  • Classifying an expense under the wrong head (e.g., putting a marketing expense under administrative expenses) — affects ratio analysis and segment reporting.
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