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TMI BlogDesk ReviewX X X X Extracts X X X X X X X X Extracts X X X X ..... ble, before visiting the unit. A good desk review under the supervision of senior officers is critical to the drawing up of good audit plan. The services of Deputy/ Assistant Director (Costs) allocated to CC Zone may be utilised effectively wherever required. 5.5.3 The auditor should refer to the information of the Registered Taxpayer (Annexure-GSTAM-I). Study of the information could throw up important points, which may merit inclusion in the audit plan. In addition, the auditor should also obtain the latest Trial Balance Sheet, Tax Audit Report, Annual Financial Statement, Cost Audit Report or any such document prepared or published after the last updating of information. From the scrutiny of these documents, certain points may further e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es 2014 may be referred to. 5.5.6 From the RPMF, Trial Balance and Annual Financial Statements (Profit & Loss Account and Balance Sheet) it is possible to work out important financial ratios. The said ratios should be compared with the ratios of earlier year and wherever significant variation is noticed, these areas may be selected for audit verification. It may be kept in mind that any adverse ratio is only an indicator for verification of such an area and there may be valid reasons for the same. Therefore, only on the basis of such an adverse ratio, a point for verification can be selected. An illustrative list of important ratios is given at Annexure-GSTAM-IV. 5.5.7 Reconciliation of data with third party information: GST payment shown ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erson. The result of Revenue Risk Analysis should be filled in the relevant column of working papers. 5.5.9 Trend Analysis: Trend analysis is a type of computational support needed for the analysis preparatory to planning, by analysing historical data and working out future projections. Historical data is analysed to discover patterns or relations that would be useful in projecting the future production, clearances and values etc. 5.5.10 For audit purposes, either absolute values or certain ratios are studied over a period of time to see the trend and the extent of deviation from the average values during any particular period. The analysis of trends as mentioned in the relevant table of working papers may be carried out. (refer III (9) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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