Tax Audit is one of the important areas of practice for chartered accountants. The provisions of section 44AB introduced in the year 1984 casts onerous responsibility on Chartered Accountants. With the changing times and Trade and Commerce becoming more complex, such responsibility is increasing every passing day.
Over the years, the Institute of Chartered Accountants of India (ICAI) has been guiding its members through Guidance Notes, Technical Guides, webinars etc to update them regarding frequent changes in Tax Audit related requirements. ICAI being a regulatory body, also formed Taxation Audits Quality Review Board (TAQRB) to review the audit reports submitted by members to the Tax Authorities. During the course of such review, the Board noticed certain reporting requirements which need specific attention of members. In order to bring awareness about the same, TAQRB of ICAI has taken the initiative to come out with this publication namely, ‘Study on Compliances in Reporting in Tax Audit Report’.
I appreciate and commend the efforts made by CA. Ranjeet Kr. Agarwal, Chairman, TAQRB of ICAI and CA. Abhay Chhajed, Vice-Chairman, TAQRB in bringing out this important publication.
I am sure that this publication will enable the Tax Auditors to identify areas requiring their attention while conducting tax audits.
CA. (Dr.) Debashis Mitra, President, ICAI
Place: New Delhi