Lot of CAs are burdened with the Tax Audits in the month of September as the 30th is the last date. Please go through the below points:

๐Ÿ‘‰๐Ÿป Standards on Auditing are mandatory to be followed in planning and performing the audit.

๐Ÿ‘‰๐Ÿป For clarity on any specific matter, members can refer to the Guidance note issued by the ICAI.

๐Ÿ‘‰๐Ÿป Risk assessment is a critical element which should never be ignored.

๐Ÿ‘‰๐Ÿป One should never compromise on the audit procedures due to paucity of time.

๐Ÿ‘‰๐Ÿป Review mechanism within the practicing firm improves the quality of audit.

โœ…๏ธ Never to forget Integrity, Objectivity, and Independence.

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