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TAX AUDIT - Coggle Diagram

- - - - Analyze if a strategy is used that takes advantage of all
        options and existing tax deductions.
      - Confirm whether there is tax planning and is the most appropriate according to the
        family environment and future of the property.
      - Evaluate if there are economic-fiscal risks, to avoid
        or reduce them.
    - - Generally Accepted Auditing Standards (NAGAS) are the principles
        audit fundamentals to which auditors should frame their performance during the audit process. Compliance with these standards guarantees the
        quality of the auditor's professional work.
- - - - The rules relating to the rendering of reports are described in article 7. of the
        Law 43 of 1990
    - - Statement of income
      - Statement of changes in stockholders' equity
      - State of financial position
      - Statement of changes in financial position
    - - The working papers comprise all of the
        documents prepared or received by the public accountant, so that, together, they constitute a a compendium of the information used and the tests carried out in the execution of their work, together
        with the decisions you have had to make to form your opinion.
  - - - Failure to comply with their obligations will lead to the suspension of their suitability.
    - - The auditor may express his opinion in an opinion:
        
        Without caveats.
        
        With caveats.
        
        Sometimes the auditor is not in a position to express
        an unqualified opinion, either due to deviations in the application of generally accepted accounting principles or due to limitations in the scope of
        your exam.
        
        Negative Opinion.
        
        The auditor should express a negative or adverse opinion
        when, as a consequence of its examination, it concludes that the financial statements are not in accordance with accounting principles and the deviations are to such a degree
        important that expressing a qualified opinion would not be adequate.
        
        Opinion with Abstention of Opinion.
        
        el auditor debe abstenerse de expresar una
        opinión cuando el alcance de su examen haya sido limitado en forma tal que no proceda la emisión de un dictamen con salvedades. En este caso, deberá indicar todas
        las razones que dieron lugar a dicha abstención.
  - - - Purpose
        
        The purpose of the examination of financial statements is to express a professional opinion
        independent as to whether said statements present the financial position, the results of operations, the variations in stockholders' equity and the changes in
        the financial situation of a company, in accordance with generally accepted accounting principles.
      - Requirements
        
        Statement that the financial statements are the responsibility of the
        management of the company and that the auditor's responsibility is to express an opinion on the financial statements, based on his audit.
        
        Affirmation that the audit was conducted in accordance with the standards of
        generally accepted audit.
        
        Statement indicating that the identified states were audited.
        
        Statement that generally accepted auditing standards require
        that the auditor plans and performs his work in order to obtain sufficient assurance that the financial statements are free of representations
        wrong.
      - Aim
        
        The objective of an audit of financial statements is to express an opinion regarding whether the financial statements are reasonably presented in accordance with generally accepted accounting principles
      - Opinion Date
        
        The date of the report should be the same date on which the auditor concludes his / her work on audit, that is, when it is removed from the entity's offices, once the evidence of the information it is issuing has been obtained.
      - Definition
        
        The opinion is the document signed by the accountant
        public in accordance with the standards of their profession, regarding the nature, scope and result of the examination carried out on
        the financial statements of the entity in question.
- - - - Accounting verification (deductive method).
        
        Accounting analysis of all
        accounts of fiscal content, verifying that their content complies with the applicable PyNCGA, as well as that payments and / or collections have been made corresponding to both the period analyzed and the period between the closing date and the date of the audit report.
      - Tax verification (inductive method).
        
        Analysis of tax returns
        submitted, verifying that the company has correctly declared and settled all taxes that have occurred as a result of your situation and your activity.
- - - - The letter must state clearly and succinctly what is requested and the date on which
        is requested.
      - The letter must be signed by an employee capable of acting in law for
        company account.
      - The letter must be prepared with the letterhead of the company.
  - - - Following the methodology proposed by Urías (1987, pp. 116-121), we can
        mention the following tax audit techniques:
        
        Oral investigation or inquiry
        
        Observation and verification
        
        Checking the financial statements with the records that support them
        
        Inspection
        
        General study of the taxation of the company
        
        Calculation and analysis
        
        Confirmation
        
        Estimate
        
        Selective tests
      - some of the aforementioned tax audit techniques will be used in the
        implementation of the following tax audit procedures, among others:
        
        Supplementation of the tax guide
        
        Bank reconciliations and cash counts
        
        Confirmations of balances with third parties
        
        Analysis of compliance with tax legislation
        
        Global reconciliations
  - - - That the company decides to make the corresponding adjustment in the financial statements.
      - That the company does not make the adjustment, in which case the auditor will undertake any of
        the following actions:
        
        Require a note to the financial statements to be included
        
        Do not rate the review
        
        Grade the opinion if the contingencies are significant