Evolution of audit and tax audit ethiopia pdf
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The main objectives of government auditing are to express opinion on financial statements and related issues of legality, regularity and fraud as well as examining whether government institutions are operating economically, efficiently and effectively. To achieve these objectives every country establishes a supreme audit institution SAI whose independence is protected by law. The existence of independent SAI can enable informed policy analysis, confident and credible decision making in the process of national economic management. Quite apart from serving as the basis for policy analysis and decision making, audit also ensures proper accountability and enhances democracy in the execution of responsibilities conferred at different levels of the decision making process. Accountability is the obligation to answer for responsibility entrusted.
Auditing History in Ethiopia
Audit quality will always be essential. It should also anticipate the changes of an evolving, growing business and adapt continuously. A Deloitte audit does this—by using advanced technology, design thinking, and multi-disciplinary teams that include data and analytics specialists. In fact, audit is an even more valuable enabler of our vibrant capital markets. It embodies continuous innovation, applies agile auditing, and is grounded by risk-based methodology and workflows. As the methods for achieving audit quality progress, Deloitte stays ahead by embedding advanced technology into every audit. We take the technologies transforming the marketplace—such as cloud, process automation, data visualization, and cognitive analytics—and build them into the audit.
Audit is often the weakest component of VAT administration. As noted in Chapter 6 , among the surveyed countries, audit performance is reported to be a particularly weak aspect of tax administration, irrespective of whether other aspects of the VAT are working well. This chapter discusses the importance of the audit function and the difficulties faced in implementing audit programs. Basic guidelines provided for the development of an audit program typically address the following key issues:. Detection of offenses, such as underreporting of turnover, over-reporting of VAT credits, and use of fake invoices, requires field audits by well-trained officers, rather than desk verifications.
Ethiopia—Tax, Audit, and Transparency Programme (TAUT)
The development of internal auditing in Ethiopia: the role of institutional norms Download full-text PDF. Download full-text PDF. Government auditing dates back to the establishment of an Audit Commission by proclamation No. Auditing in Ethiopia Development of Auditing In Ethiopia The process of auditing professionalization in Ethiopia appears to exhibit distinct Patterns during the three epochs when the state followed capitalist-oriented pre , 2 3 Communist through to , and then capitalist-oriented onwards ideologies. The development of internal auditing in Ethiopia: the role of institutional norms The development of internal auditing in Ethiopia: the role of institutional norms Dessalegn Getie Mihret; Joseph M.
Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. Modugu and J. Modugu , J. Anyaduba Published Business. This paper examines the impact of tax audit and other qualitative attributes on the tax compliance level of companies in Nigeria. Questionnaires were administered to staff of sampled companies in selected states of the five geo-political zones of Nigeria.
The Modern VAT
In general, an audit is an investigation of an existing system, report, or entity. It may be conducted by either an internal or external party, depending on the situation. There are many types of audits that can be conducted, as noted below. A compliance audit is an examination of the policies and procedures of an entity or department, to see if it is in compliance with internal or regulatory standards.
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External Audit. The external audit is referring to the audit firms that offer certain auditing services … Internal Audit. Internal Auditing is an independence and objectivity consulting service that is … Forensic Audit. The forensic audit is normally performed by a forensic accountant who has the skill … Statutory Audit. Statutory audit is referring to an audit of financial statements for the specific type of … Financial Audit.
An external audit is an independent examination of the financial statements prepared by the organisation. It is usually conducted for statutory purposes because the law requires it.