Page 118 - CA Final PARAM Digital Book.

regard. How can she challenge management’s assertion regarding the completeness of export revenues
for the year 2022-23?
Answer She can obtain reliable audit evidence by going through GST returns filed by the company on GST portal and
correlating the same with e-way bills. She can obtain audit evidence about how company has reflected its
export sales in its GST returns and whether export sales pertaining to three invoices having value of ₹ 75.00
lacs are reflected in such returns.

Further, e-way bills generated on the portal would provide evidence that goods have moved out of the
company’s premises. The export revenue should have been booked at the time the goods moved out of the
company’s premises. The company is claiming an IGST refund. The refund is linked to the monthly sales
return. This aspect can also be verified.

“Bill of Lading” is only a document issued by the carrier to the shipper of goods that goods have been taken
on board. She should challenge and counter management’s assertion on the above grounds and point out
violations of relevant accounting standards and principles. In this way, she can obtain reliable audit evidence.

Highlighting such digital and other evidence, she can challenge management’s assertion regarding the
completeness of export revenues and point out that export revenues are understated.

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