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Steps to an Accounting Audit

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1 - Preparation of the accounting audit (the auditor collects as much information as possible from the company via internal sources or by conducting external research); for best accountancy training Best school of accountancy In Lahore . 2 - Submission of a notice of audit of accounts (the auditor must indicate in advance the company that the years will be checked.) A sufficient time must be granted to him to be able to make attendance Board, usually 15 days); 3 - Carrying out accounting verification operations ( substantive and formal control of accounting documents, physical checks, visit to the company, review of accounting processes, analysis of certain legal documents); 4 - Conducting a summary meeting in the presence of the auditor, the company representative and any adviser (this meeting is not an obligation but is usually carried out in the field); 5 - Preparation of a report by the auditor and transmission to his hierarchy (this document notably indicates the propo...
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What are the consequences of a lack of accounting presentation?

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Where the company does not provide the necessary accounting documents to the auditor to carry out its audit, the auditor shall draw up a report indicating that the accounts have not been presented . It must be drawn up in duplicate and signed by the company. A copy must be given to him. The auditor may then, under certain conditions, apply a contradictory redress procedure and thus reconstitute the company's profit. In the most serious cases, and, in case of rejection of accounting  including an estimated assessment procedure can even be implemented. Here, the burden of proof will be reversed and it will be for the company to demonstrate the exaggeration of the new bases retained by the tax administration. Conclusion : Accounting auditing is a fairly complex procedure in practice. Care should be taken to detect any procedural flaw or procedural flaw.
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Powers of Accounting Auditor

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The auditor has significant investigative powers. For best accountancy training Best school of accountancy In Lahore . In particular, it can carry out physical checks of all kinds, cross-checks from different sources of information, investigations and searches. It can also assess the nature of the management of the company by its manager (normal or abnormal) and thus sanction an abnormal act of management . Duration of accounting audit In small businesses, the auditor cannot carry out an on-the-spot check for more than 3 months . This provision applies to companies whose turnover is lower than the limits allowing to benefit from the simplified system of taxation (RSI), that is to say 789 000 euros for the activities of purchase / sale or 238 000 euros for the services . This period is extended to 6 months where the accounts contain serious irregularities depriving it of probative value. The auditor must then inform the company of this lengthening. Guarantees of the Controll...
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What is the scope of an accounting audit?

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All undertakings holding and presenting accounting documents may be subject to an audit of accounts, provided that the control covers: Industrial and commercial profits ( BIC ) irrespective of the tax regime (normal, real simplified tax or micro-BIC ); Non-commercial profits ( BNC ) regardless of the tax regime (controlled declaration or micro-BNC ); Agricultural benefits only if they are part of a real scheme; Or turnover taxes (VAT in particular). When auditing one of these taxes, verification may extend to registration fees (but these can not, on their own, constitute grounds for auditing the accounts). What is the procedure for an accounting audit? Location of Accounting Audit In principle , an accounting check is carried out on the premises of the undertaking, that is to say, at its head office or at its principal place of business. Exceptionally, it may take place on the premises where the company's accounts are kept, if both parties agree, and to the exte...
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The accounting audit

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The accounting audit is a tax audit form. For best accountancy training Best school of accountancy In Lahore . It is, however, a concept to be grasped with great caution, as the rules which surround it are numerous. Compta-Facile dedicates this form and answers the questions: what is an accounting audit? How does it work? What are the powers of the auditors? What follow-up is given to the control? What is an accounting check? By definition, the accounting audit is a tax audit consisting of various transactions aimed at examining the accounting of an enterprise. This control makes it possible to compare certain material or extra-accounting data with that resulting from its accounting. The following taxes may be subject to an audit: the income tax (BIC, BNC or BA), the corporation tax and the value added tax. Accounting verification is used to monitor the accuracy and completeness of returns and to correct upward or downward adjustments or deductions. There are three forms of...
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