Quote:
Originally Posted by Unregistered
Knowing tax treatment and doing audit are two different things.
As long as the workings and number looks roughly correct + there is a tax agent in same big4 handling it, no point waste too much time to know everything in the tax working. And if it is very wrong, IRAS will hound down the company and the co can just make the necessary tax expense and provision adjustment next year.
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What. Standard really go down hill. Tax provision for the FY requires auditors to review the tax position. How does one review the position without understanding tax treatment. Please refer to SSA250.
If necessary/material adjustments are required then the review of tax position is a failure, ie. Misstatement. LOL