Prepare a List of Foreign Currency Exposures with Source for verification on the following points: 1. Advance payments received against exports (exports not taken place)
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2021
Prepare a List of Foreign Currency Exposures with Source for verification on the following points: 1. Advance payments received against exports (exports not taken place)
Answer & Explanation:
Source for verification for Advance payments received against exports (exports not taken place): Copy of Purchase or Sale contract as the case may be Copy of FIRC If credited to EEFC A/c cross reference so as to avoid double counting
Topics: Foreign Currency Exposures
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