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:

πŸ‘‰πŸ» Standards on Auditing are mandatory to be followed in planning and performing the audit.

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

πŸ‘‰πŸ» Risk assessment is a critical element which should never be ignored.

πŸ‘‰πŸ» One should never compromise on the audit procedures due to paucity of time.

πŸ‘‰πŸ» Review mechanism within the practicing firm improves the quality of audit.

βœ…οΈ Never to forget Integrity, Objectivity, and Independence.

#audit #tax #auditing #icai #ca #standards

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