Audit difference

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....udit difference<br> Query (Issue) Started By: - Sudhir Kumar Dated:- 28-10-2019 Last Reply Date:- 28-10-2019 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>What are the basic differences between Theme Audit, Internal Audit and CERA Audit. Reply By Rajagopalan Ranganathan: The Reply: Sir, Under GST internal audit means audit conducted by the departmental officers deputed by the Commiss....

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....ioner. CERA Audit is conducted by the Comptroller and Auditor General of India under constitutional provisions.No idea about Theme Audit. Reply By KASTURI SETHI: The Reply: 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&#39;s Circular No.995/2/2015 dated 27.2.15. For exampl....

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....e ; 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 Custo....

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....ms 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&#39;s Circular No.1023/11/2016-CX dated 8.4.2016 Reply By Himansu Sekhar: The Reply: Nicely explained<br> Discussion Forum - Knowledge Sharing ....