News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
ICAI »
 What is Unique Document Identification Number (UDIN)?
 Register for Second Exclusive Batches of German Language (120 Hours) for ICAI Members and Students at Delhi-20th July 2019
 Exposure drafts of ASLB 21, 'Impairment of Non-Cash Generating Assets', ASLB 26, 'Impairment of Cash Generating Assets' and ASLB 32, 'Service Concession Arrangements: Grantor'
 Indian Institute Of Science Education And Research,Kolkata, West Bengal
 Results of the Common Proficiency Test (CPT) held in June 2019 are likely to be declared on Thursday, the 18th July 2019.
  Beneficial Schemes for the Members of ICAI - Committee for Capacity Building of Members in Practice, ICAI
 ICAI invites suggestions on tax proposals of Union Budget 2019-20
 Guidance Note on Division I- Non Ind AS Schedule III to the Companies Act, 2013- July 2019 Revised Edition
 Guidance Note on Division II- Ind AS Schedule III to the Companies Act, 2013- July 2019 Revised Edition
 FAQ on the Companies Act 2013- July 2019 Revised Edition
 Amendments to IFRS 17, Insurance Contractsa

Internal Auditor cant undertake Goods and Service Tax (GST) Audit of same Entity due to Role Conflict: ICAI
October, 05th 2018
Internal Auditor can't undertake Goods and Service
Tax (GST) Audit of same Entity due to Role Conflict:
ICAI

ICAI has clarified that `internal auditor' of an entity can't undertake `GST Audit' of the same entity due to role conflict of Internal Auditor and Statutory Auditor. Besides, bar on `internal auditor' to accept `tax audit' (under Income Tax) will also be applicable to `GST Audit' (under CGST Act 2017). We have received enquiries from the members at large and other stakeholders as to whether an internal auditor of an entity can also undertake GST Audit of the same entity as required under the Central Goods and Service Act, 2017. The Council of the Institute, while considering the issue at its 378th Meeting held on 26th and 27th September, 2018, noted its earlier decision taken at its 281st Meeting held from 3rd to 5th October, 2008, that internal auditor of an assessee, whether working with the organization or independently practising Chartered Accountant being an individual chartered accountant or a firm of chartered accountants, cannot be appointed as his Tax auditor (under the Income Tax Act, 1961).
Upon consideration, the Council has decided that based on the conflict in roles as statutory and internal auditor simultaneously, the bar on internal auditor of an entity to accept tax audit (under Income Tax Act, 1961) will also be applicable to GST Audit (under the Central Goods and Service Act, 2017).Accordingly, it is clarified that an Internal Auditor of an entity cannot undertake GST Audit of the same entity.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions