Revised Instruction on Internal Auditing

Revised Instruction on Internal Auditing https://www.taxtmi.com/circulars?id=55967 The instruction establishes a centralized Internal Audit framework under Pr.CCIT with CIT (Audit), JCIT (Audit), SAP and IAP units, mandates ITBA-based generation of auditable case lists and unique audit memos, prescribes risk-based selection using an Audit Potential Index (API), sets minimum annual audit point targets and weighting, requires categorisation and hierarchical examination of audit objections into major/minor and factual/legal/mixed with specified vetting and remedial timelines, and mandates MIS reporting, ledger cards and training to monitor performance and accountability. en-us Fri, 21 Jul 2017 00:00:00 +0530 Tue, 04 Jun 2024 18:05:00 +0530 TaxTMI RSS Generator Revised Instruction on Internal Auditing https://www.taxtmi.com/circulars?id=55967 The instruction establishes a centralized Internal Audit framework under Pr.CCIT with CIT (Audit), JCIT (Audit), SAP and IAP units, mandates ITBA-based generation of auditable case lists and unique audit memos, prescribes risk-based selection using an Audit Potential Index (API), sets minimum annual audit point targets and weighting, requires categorisation and hierarchical examination of audit objections into major/minor and factual/legal/mixed with specified vetting and remedial timelines, and mandates MIS reporting, ledger cards and training to monitor performance and accountability. Circulars Income Tax Fri, 21 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/circulars?id=55967