Examples of compliance framework
This query is : Resolved
14 April 2018
Dear Team
I was going through Fair presentation Framework and Compliance Framework as a part of SA 200 - Overall Objective of an Independent Auditor. Can you pls explain me what is Compliance framework means and can you give me one or two examples of compliance framework in India?
regards
Nagabhushan Pai
I was going through Fair presentation Framework and Compliance Framework as a part of SA 200 - Overall Objective of an Independent Auditor. Can you pls explain me what is Compliance framework means and can you give me one or two examples of compliance framework in India?
regards
Nagabhushan Pai
Guest
Guest
(Expert)
14 April 2018
It is a set of internal control you make to avoid non compliance of any law.
e. g. the entity may have a procedure to make payments over 10,000 only through banking mode, so to avoid expense disallowance in income tax of over 10,000 in cash.
e. g. the entity may have a procedure to make payments over 10,000 only through banking mode, so to avoid expense disallowance in income tax of over 10,000 in cash.
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