While auditing the news paper account auditor should pay special attention to the following points :1. Internal Check :-
Auditor should inspect the control system thoroughly. He should examine the receipts, payments and circulation of newspaper.
2. Unsold Newspapers System :-
Auditor should verify the system of unsold newspapers returned by the agents. He should also see that these are properly recorded or not?
3. Cash and Bank Balance :-
Auditor should verify the cash in hand by counting. He should also compare cash book with the bank statement.
4. Payment To The Employees :-
Auditor should check that wages and salaries are properly certified. He should also check the wages sheet.
5. Income Through Advertisement :-
Auditor should examine that income earned through advertisement is properly recorded in books.
6. Depreciation :-
Auditor should see that adequate depreciation is made for the fixed assets. He should also examine the basis on which depreciation is calculated.
7. Libel Action :-
Auditor should examine that necessary provisions are made in case of liable action pending against the newspaper.
8. Payments Verification :-
Auditor should carefully verify the payments made for the purchase of fixed assets payments made to the contributors should also be verified.
9. Investment Examination :-
Auditor should examine the investment made by the company. He should also verify the valuation of investment.
10. Verify The Outstanding Expenses :-
Auditor should verify all those expenses which are outstanding. He should see that these are properly recorded or not?
11. Verification Of Sold Items :-
Auditor should verify that if any old material and machine sold by the company was duly verified by the authorized person.
12. Prize Competition Provision :-
Auditor should check that if any prize competition is offered by the company, for this purpose proper provision is made in the books of account.
13. Proper Attention :-
Auditor should verify that proper allocation between capital and revenue expenditure has been made. No any revenue item of capital can be included in revenue.
14. Issuance Of Paper :-
Auditor should check the system of paper issuing. He should know that how printing paper is issued to newspaper news agents and subscribers.
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