https://www.taxtmi.com/forum/issue?id=110480 Under accrual accounting, expenses are recognised when incurred even without an invoice, allowing provisions if an obligation exists at year-end. However, because statutory tax audits occur after the accounting year closes, the audit fee is treated as a subsequent-period expense; consequently, no provision is typically recorded in the closed-year books. en-us Wed, 08 Jun 2016 15:29:25 +0530 Thu, 23 Jan 2025 15:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110480 Under accrual accounting, expenses are recognised when incurred even without an invoice, allowing provisions if an obligation exists at year-end. However, because statutory tax audits occur after the accounting year closes, the audit fee is treated as a subsequent-period expense; consequently, no provision is typically recorded in the closed-year books. Discussion-Forum Companies Law Wed, 08 Jun 2016 15:29:25 +0530 https://www.taxtmi.com/forum/issue?id=110480