How to Conduct Tax Audit – Part 1 Analysis of Certain Clauses Audit under Section 44AB of the Income Tax Act By Raman Jokhakar‚ Chartered Accountant Objective To understand the purposes of this Form To learn nuances of the clauses To understand audit risk To effectively carry out attestation To document adequately To disclose standard notes‚ limitations and stands To know inter links between clauses To be aware of important stands taken by Courts To understand the objective of the
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Marketing Planning Process Session Slides Learning Outcome • At the end of the session‚ students will be able to: - Explain the importance of objectives and the processes processes for setting them. - Identify the different types of organisational objectives - Evaluate the importance of marketing planning process to a market oriented organisation - Explain the different stages of the marketing planning process Marketing Planning • Marketing Planning is a systematic process of
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INTERNAL AUDIT 1 Internal audit ‘Internal audit’ is an appraisal activity established by management for the review of accounting and internal control systems as a service to the entity. It reviews‚ monitors and make recommendations for the improvement of systems. Other activities include: Examination of financial information Review of economy‚ efficiency and effectiveness (‘value-for-money’ audits) Review of compliance with external laws and regulations Review of internal policies Review
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NATURE OF OPERATIONAL AUDIT • Also known as management audits and performance audits. • Conducted to evaluate the effectiveness and/or efficiency of operations. • Examinations of all or part of an entity to determine the degree of its operational efficiency‚ effectiveness and economy. • Also refers to the auditor’s study of business operations for the purpose of making recommendations about economic and efficient use of resource‚ effective achievement of business objectives
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BA (HONS) ACCOUNTING & FINANCE BA (HONS) PROFESSIONAL ACCOUNTING PROFESSIONAL ACCOUNTANCY COURSE YEAR 3 AUDIT & ASSURANCE 1 INDIVIDUAL ASSIGNMENT BRIEF HAND OUT DATE: 5th October 2011 HAND IN DATE: INSTRUCTIONS FOR COURSEWORK You are required to research and prepare a report based on one of the following topics. Please seek the assistance of the module leader Ivor Pingue and your seminar tutors for help and guidance with your coursework. Do not leave the research too late
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Definition of Audit: To audit means to go through the process of examining and verifying a company ’s financial records and supporting documents. While a business might go through an audit for any number of reasons‚ such as wanting to attract investors‚ get a loan‚ or sell the business‚ for many business people the word "audit" is welded to the words "income tax". An income tax audit is an inspection and verification of a company ’s records and supporting documents conducted by a CRA (Canada
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letter is to confirm our understanding of the terms of our engagement as the auditors of Oceanview Marine Company for the year ended December 31‚ 2014. We will audit the company’s balance sheet for December 31‚ 2014‚ and the related statements of income‚ retained earnings‚ and cash flows for the year then ended. The purpose of our audit is to form an opinion as to whether these statements are fairly presented in accordance with accounting principles generally accepted in the United States of America
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BSA 700: The Auditor’s Report on Financial Statements Prepared By Abdullah-Al- Mamun The auditor should review and assess the conclusions drawn from the audit evidence as obtained as the basis for the expression of an opinion on the financial statements. Basic Elements of the Auditor’s Report The auditor’s report includes the following basic elements ordinarily in the following layout: a) Title b) Addressee c) Opening or Introductory Paragraph- i) Identification
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internal auditing (also known as “management auditing”). You consider the definition‚ development‚ and scope of internal auditing. You also consider the business environment and identify and analyze its accompanying risks. The various types of internal audits and the relationship between internal auditing and performance measurement are explained. Finally‚ you study the role of professional ethical standards in internal auditing and review case analysis‚ a technique used frequently throughout this course
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NATURE‚ PURPOSE AND SCOPE OF AUDIT AND REVIEW NATURE‚ PURPOSE AND SCOPE OF AUDIT AND REVIEW 1 “AUDITING” In independent examination 2 NATURE AND DEVELOPMENT The word “audit” comes form the Latin word audire which means “to hear” because‚ in the middle Ages‚ accounts or revenue and expenditure were “heard” by the auditor. Statutory audits (i.e. carried out in accordance with statutory provisions) become mandatory for companies in 1900. At this time the purpose of an audit was to detect fraud‚ technical
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