No matter where you live in the world, you must have heard of the word tax. It is the money that you pay to the Local and Central Government as assistance. The government makes use of this money to run the nation that is to the build infrastructure, to bring new advanced technologies, to help the poor with life upliftment scheme and to comfort the sufferers at the time disaster.
While this may seem a philanthropic work, the government has made it mandatory for all individuals and organizations to pay taxes.
The government has enacted laws according to which tax is to be paid by an organization, agency or individual. The person who helps us collect tax according to federal state and local tax laws is called a tax auditor. A tax auditor is a professional, proficient in all tax laws that help us comply with appropriate tax laws.
Finding a trustworthy person for this job can be troublesome, thanks to tax auditors in Pune, it has made it quite easy as they have experienced professional’s tax auditors that can help us.
The job of a tax auditor is legal. The duties that are carried by a tax auditor put down in The Companies Act 2013, provided in section 143. The various tasks performed by a tax auditor, are enlisted below which shows the importance of a tax auditor for a company:
- The job of a text auditor is a job of responsibility. He has to check the financial statements minutely to see if it is as per the laws of the government. And he prepares an audit report based on the financial statement of the company or the individual. He also makes sure that these statements reflect the exact image of the financial position of the respective person or the company.
- Report of an auditor has a high value. Therefore, the text auditors should be able to call a spade a spade which means they are allowed to give an adverse opinion in a situation where the financial statements do not reflect the face of the organisation. He can also issue a disclaimer at times when he finds that the information provided to him is not complete. However, it is obligatory to give out the reasons for such opinions.
- It is one of the duties of tax auditors to inform the higher authorities in the company about the misleads in the financial statements so that the issue gets resolved and a fair financial statement made in time to come.
- Tax auditor is a professional who checks the lawfulness of financial statements for a company or an individual. Therefore, he must adhere to the code of ethics and the code of professionalism which speaks for confidentiality. It is necessary as he entrusted with highly confidential information of the organization.
It is quite clear from the rules and responsibilities inherent to the tax auditor as to how much he matters to any business organization or individual when it comes to the management of finance. The tax audit firms in Pune help you with a trusted person with the entire job requirement.