Headquartered in Mumbai, Armaments System Limited (ASL) was incorporated on 1st April. 2016, as a Public Limited Company, to be the manufacturing base for guided missile systems and allied equipment for defense sector fo

Headquartered in Mumbai, Armaments System Limited (ASL) was incorporated on 1st April. 2016, as a Public Limited Company, to be the manufacturing base for guided missile systems and allied equipment for defense sector forces. Company is equipped with the latest plant and machinery, apart from access to updated techniques supported by Standard Operating Procedure (SOP). The company's revenue increased from ₹250 crore to ₹600 crore in a period of three years through a combination of internal growth and acquisitions. The Company required additional internal auditing expertise and resources to meet new and changing compliance and internal control requirements. Accordingly, SAR & Co. Chartered Accountants is appointed to evaluate the effectiveness and adequacy of the following processes: procurement, risk management, and internal controls. The main objectives to be achieved for procurement process were - (i) Ensuring compliance with international trade as more than 60% of required raw material is being imported. (ii) Identifying opportunities for cost savings and (iii) Identifying potential fraud, corruption and conflict of interest areas. While carrying out the risk assessment, internal audit team observed that management would not be alerted if there was either undue preference being given to a specific vendor or an unreasonable demand being placed on any one vendor. Further on many instances, purchases were made from dealers instead of manufacturers leading to extra cost for the company. Internal audit team thought that these types of circumstances are exceptional in nature. Audit team carried out the internal audit, keeping audit objectives in mind and randomly collected the following documents for verification and including them as samples in proposed audit report. Purchase Invoices issued by ABC Ltd. Purchase Orders give to TAB Ltd. Transfer documents from store to production department. Transfer documents from production room to finished goods store. Audit team leader asked the audit team members to ensure that all the documents collected for internal audit purpose are clear and understandable. Considering the above facts, answer the following : If you are a part of audit team, how will you ensure that audit documentation collected meet the criteria set out by Audit team leader ?