Powers of Accounting Auditor


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 Controlled Company
Counterparties in the power of the auditor are the granting of rights to the taxpayer. The main guarantees available to the company are as follows:
The sending, in advance, of an accounting verification notice in order to notify the control company (except in the event of unexpected control);
The stipulation that it has the faculty to be assisted of the council of its choice;
The delivery of the charter of the taxpayer notifying him of his rights;
Information on the results of the audit and the financial consequences;
The limitation of the duration of the on-site accounting audit;
The prohibition of re - auditing the exercises or income already audited, except in the case of fraud or the appearance of a new fact subsequent to the audit;
The possibility of applying the cascading deduction .
Failure to comply with these guarantees may result in the cancellation of the accounting audit and therefore the reassessment of the adjustment.

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