We prepare tax audit in Nepal

Internal Audit

Internal Audit is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization.Since internal Audit help Boards and senior executive for managing risk, You can Easily Consult our company for Internal Audit. Our internal audit professionals can work with you to understand your business strategy and its associated business drivers, and how that strategy is delivered through an appropriate operational business plan and process framework.

Statutory Audit

Statutory audit is mandatory audit requirement to be done as per prevailing laws such as Comapnies Act, Income Tax Act. Registered companies under Company Act 2063 are required to do mandatory audit. for the company, regardless of their nature and turnover. Company Act 2063 requires evey company registered under 2063 shall appoint the auditor and shall get it's accounts audited within 6 months of the end of the fiscal year and shall submit such financial statement along with audit report to the company registrar via online opplication. The purpose of the statutory audit is to ensure reliability and transparency, truthfulness and fairness of financial statement

Tax Audit

Tax Audit is an audit made compulsory by the Income Tax Act if the turnover of the assessees reaches the specified limit.Auditor is reponsible to determine the authentication of documents and information that are required to be submitted to the Tax Authority.The auditor should certify balance sheet, income and expenditure account, cash flow and tax return of the tax payer whose turnover is more than Rs 10million. Tax auditors should ensure that all formats, checklists, documents and statementsrequired by law have been submitted with tax return.There are two types of tax audit.

Certification of Income Return: Two types of person is required to certify Income return from certified accountant from ICAN a. Any professionals(Natural Person) having turnover Rs 20 lakh and more. b.Any person having income from employment and business of Rs 1 crore or more

Audit of financial Statements: Audit of the financial statement of following persons is required fromcertified accountant from ICAN a. Any professional consultant (Engineer, Medical consultant, legal consultant and financial consultant or any other consultant) having turnover more than Rs 20 lakhs. b. Person other than professional consultant having income from business and employment having turnover more than Rs 50 lakhs.

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