What are the importance matters which an auditor should ensure to ascertain and establish true and fair view.

In order to show a true and fair view, the auditor should ensure that: The final accounts (Trading and Profit and Loss Account and Balance Sheet) agree with the books of accounts. The closing stock is physically verified and valued properly. Intangible assets like goodwill, patents, preliminary expenses or other deferred revenue expenses are valued and written off properly. Expenses/income of Capital nature are not treated as revenue and vice versa. Contingent liabilities are not treated as actual liabilities and vice versa. Provision is made for all known losses and liabilities. Transactions are recorded on an accrual basis, i.e., outstanding expenses, prepaid expenses, income accrued, and advance income are recorded properly. The exceptional or non-recurring transactions are disclosed separately in the accounts.