Pre-requisites of an audit officer

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rized below. An audit officer should be able to answer the questions pertinent to a particular area of legal, technical, and interpersonal skill and knowledge. A list of competencies and an illustrative list of questions is given below:-   Area of Competence (Skill-set/ Knowledge) Illustrative Questions 1. Have a well-drafted preplan for identifying areas of concern * What to examine? .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ss pattern of the auditee with respect to the auditee's particular trade & industry? * Is the audit officer aware of the existing trade practices, conventions, and market trends? * Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 provides that the Final Accounts should comply with the Accounting Standards. Does the audit officer possess the knowle .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rols more robust? * Does the auditor apprise the auditee of the provisions of the GST Act, Rules, and relevant notifications, circulars, and court decisions to encourage the taxpayer to make voluntary payment in the course of audit? * Is the auditor transparent and discuss any Some important areas in which an auditor should check levels of compliance of the auditee are given in Exhibit - 13 b .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X