To ensure prime quality audit, assessment of paperwork collected through the audit and all the content material of paperwork on the auditor’s exercise, all paperwork collected, papers ready throughout audit ought to be saved within the audit file. The file system ought to assure the fast identification of the paperwork, based mostly on references made within the closing report or file stock .
The file ought to comprise all of the paperwork collected through the audit, regardless of their format. Paperwork collected through the audit could be copies of unique paperwork, tables, work plans, questionnaires, notes taken throughout interviews or examination of paperwork, different notes, totally different publications and different paperwork describing numerous actions and needed to arrange a top quality closing report. The file ought to clearly characterize the way in which the audit was carried out, starting with the knowledge gathered, and interviews with key respondents and ending with the finalization of the audit with a closing report despatched to the taxpayer upon termination of the audit.
Content material of auditor’s file
The auditor’s file ought to comprise not less than these teams of documentation:
Group 1: Completely different data together with all supplies collected earlier than starting the audit, observations made and different data, and so on
Group 2: Audit plan and program, together with all of the paperwork related to the audit program, audit announcement, service order (for circumstances outdoors jurisdiction)
Group three: Proof, together with all paperwork obtained for the aim of making use of the audit strategies chosen in this system (stock, written interviews, proof of finalized exams, authorizations by the Head of Massive Taxpayers Workplace, formal information)
Group four: Audit report, together with the audit report, objections or feedback that taxpayer has made about them, the report accredited by the pinnacle of part and Head of Massive Taxpayers Workplace, evaluation notification and accounting order
Group 5: Feedback, together with each remark made by the pinnacle of workplace, head of part and Head of Massive Taxpayers Workplace, stock of paperwork included within the audit report
All paperwork (supplies which have been ready and copies of primary paperwork obtained through the audit) ought to be verified, signed and dated by auditors. For circumstances when audit studies flow into amongst inspectors, heads of places of work and sections and Head of Massive Taxpayers Workplace, all feedback ought to be registered and included within the record of paperwork.
The record of paperwork on the high of the file ought to comprise details about all of the paperwork hooked up to the file.
Every audit file ought to have labels with names for the knowledge beneath:
– File quantity
– Title of audited company
– Title of auditor and his/her head
– Starting and shutting date of audit
– Tax detection’s and penalties for every tax
It’s endorsed that the audit sector retains a normal file containing all paperwork which characterize the sector as a complete and/or its places of work. This file ought to be saved to register paperwork in a manner that makes it straightforward to instantly establish the knowledge it accommodates.
If needed, the recordsdata could be opened to be able to test the observance of suggestions or for different verification’s. The file is all the time opened with an authorization by the Head of Massive Taxpayers Workplace.
Separate procedures will apply for storing digital paperwork related to the audit. When needed, digital paperwork must also be printed out.
The auditors ought to assume personal accountability for misusing paperwork obtained throughout an audit in addition to for each sort of confidential, skilled data they might get hold of on the idea of provisions acknowledged in legal guidelines and administrative procedures.