Difference in Tax Audit & Statutory Audit
This query is : Open
14 October 2010
Dear all,
My client is Govt co. We have done the Tax audit of the said co. After that CA&G had done statutory audit. Now there is some difference in P&L accounts between Tax audit & Statutory Audit. What will be the treatment of said difference in next Tax audit or Statutory audit ?? Should we have to revised our tax audit report ???
My client is Govt co. We have done the Tax audit of the said co. After that CA&G had done statutory audit. Now there is some difference in P&L accounts between Tax audit & Statutory Audit. What will be the treatment of said difference in next Tax audit or Statutory audit ?? Should we have to revised our tax audit report ???
14 October 2010
Audited balancesheet and P/L is part of tax audit report, then where is the question of difference of profit. CA&G do the supplementary audit ( u/s 619) not statutory audit.
15 October 2010
No sir,, CA&G is statutory auditor and me is tax auditor.. There is huge difference in P&L this is due to some of the information not available at the time of Tax audit which is conducted first and after 8 months Statutory audit had done.. So now there is 2 B/S having different figure 1. is As per taxx audit & 2. is as per Statutory audit. This thing happens in 2 years. Now in current year what to do ?
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