Audit difference

[Sudhir Kumar]

What are the basic differences between Theme Audit, Internal Audit and CERA Audit.

[Rajagopalan Ranganathan]

Sir,

Under GST internal audit means audit conducted by the departmental officers deputed by the Commissioner. CERA Audit is conducted by the Comptroller and Auditor General of India under constitutional provisions.No idea about Theme Audit.

[KASTURI SETHI]

1.Theme Audit is issue based and concentrated on a particular objective. It has compliance and performance based audit objectives. For more details, see Para No.7 of CBEC's Circular No.995/2/2015 dated 27.2.15. For example ; Insurance, telecom, banking sector etc.

2. Internal Audit : It is conducted by the respective department i.e. GST, Income Tax, Railway etc. These departments have formed their own audit wings. Internal Audit wings of GST, Customs conduct audit of the records of assessees registered with the department.

3. CERA /CRA Audit : CERA stands for Central Excise Revenue Audit and CRA stands for Customs Revenue Audit. These are conducted by the audit wings of Comptroller and Auditor General of India. CAG conducts the audit of the Govt. departments as well as records of the assessees. For more details, see Board's Circular No.1023/11/2016-CX dated 8.4.2016

[Himansu Sekhar]

Nicely explained

AI Summary

Theme Audit: issue-focused compliance and performance review, distinct from departmental internal audits and CAG revenue audits.
Defines and distinguishes three audit modalities: Theme Audit, an issue-focused compliance and performance audit of particular sectors; Internal Audit, conducted by departmental audit wings with officers deputed by the Commissioner to examine registered taxpayers' records; and CERA/CRA Audit, revenue audits undertaken by the Comptroller and Auditor General of India covering government departments and assessee records.