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I have just completed an audit where I have qualified Part A. I have the signed income tax return (provided prior to the audit) and have asked that the accountant change the tax return prior to lodgement to reflect the qualification. Are we required to sight the amended income tax return reflecting the qualification or is it ok just to expect it's done as requested?
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Hi Lynda
Technically the auditor is signing off only on the financial reports (being statement of financial position and operating statement) and doing a compliance audit in relation to certain sections and regulations of SIS.
That is there is no requirement for the auditor to have to review or sight the annual return (income tax return).
You are not required to sight the amended income tax return.
A lot of auditors will review the income tax return as a way of reviewing the tax expense and tax refund or tax payable as disclosed in the financial reports.
Thanks
The Auditors Institute