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Tax audit - Coggle Diagram
Tax audit
Audit Program
Concepts
A systematic process for obtaining and objectively evaluating evidence related to reports on economic activities and other related events, the purpose of which is to determine the degree of correspondence of the
Taxpayer Law
The norm clearly introduces the concepts of "taxpayer" and "source" as elements for the application of this principle in Panama. For the purposes of this article, "source" can be understood as any person (natural or legal), operation,
Permanent Archive
Working papers are the documents in which the auditor records the data and information obtained in his examination and the results of the tests carried out.
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Contributions Update
Process Review - Part B
The report must clearly establish the auditor's opinion on whether the financial statements reasonably present, in all material respects, the financial position, results of operations, changes in stockholders' equity and changes in financial position, in accordance with generally accepted accounting principles.
Work papers
Public accountants must establish and keep working documents that may constitute due proof of their performance, aimed at forming their opinion on the accounts they have examined.
Process Review - Part A.
The opinion is the document signed by the public accountant in accordance with the rules of his profession, regarding the nature, scope and result of the examination carried out on the financial statements of the entity in question.
recommendations
Once the evidence has been obtained and documented, the auditor must conclude whether it is sufficient and adequate to issue an opinion or, on the contrary, should refrain from issuing a professional opinion.
Offenses and Offenses
Evidence Documentation
For the auditor, adequately documenting the evidence obtained is of vital importance, since the quality of said documentation -in the sense of adequacy to the Generally Accepted Auditing Standards- will depend, to a large extent, on the responsibility that it will assume after issuing the report. in which he expresses his professional opinion.
Evidence Assessment
Once the evidence has been obtained and documented, the auditor must conclude whether it is sufficient and adequate to issue an opinion or whether, on the contrary, it must refrain from issuing a professional opinion.
Definition
We could say that the process of obtaining evidence begins for the private tax auditor practically at the moment when the entity, as a possible client, requests a collaboration proposal from the same professional
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