An Tax audit checklist is an invaluable tool for comparing a business’s practices and processes to the requirements set out by ISO standards.Tax audit is an independent assessment of how effective an organization’s risk management, processes, and general governance is. The Tax audit checklist contains everything needed to complete an Tax audit accurately and efficiently.
Tax audits can be scheduled as frequently as your organization determines is needed in order to improve processes. Some businesses schedule audits once a year, every quarter, or even once a month, at most.
The Tax audits will review a few areas of your organization, including::
Audit Planning | Audit Closure | Substantive Testing |
---|---|---|
Task_Assignment | Audit Closure | Bank Balance |
Cash Payment > 10,000/- | ||
CENVAT | ||
Vouching |
Substantive Testing | Substantive Testing | Substantive Testing |
---|---|---|
Loans | Ledger Scrutiny | Final |
Tax Assessment Status | Inventory | Excise Audit Observations |
TDS and Tax Compliances | Comparatives | Fixed Assets |