Welcome to the Taxation Audits Quality Review Board
Chairman CA. G. Sekar
Formation of the Taxation Audits Quality Review Board
The Council of the Institute of Chartered Accountants of India, at its 373rd meeting, held in February, 2018 constituted the Taxation Audits Quality Review Board (hereinafter referred to as Board) as its non-standing committee.
Terms of Reference
To review any report prescribed under the Income-tax Act, 1961 and Rules framed thereunder and any report prescribed under the Indirect Tax Laws including Goods and Services Tax Law which are certified by a Chartered Accountant (tax auditor) in respect of certain enterprises with a view to determine, to the extent possible, compliance with the reporting requirements prescribed under the Income-tax Act, 1961 and Rules framed thereunder; compliance with the reporting requirements prescribed under the Indirect Tax Laws including Goods and Services Tax Law and compliance with the respective pronouncements, guidance notes of ICAI.
To review the various reports prescribed under the Income-tax Act, 1961 and Rules framed thereunder and under the Indirect Tax Laws including Goods and Services Tax Law either suo moto or on a reference made to it by any regulatory body including Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority, Ministry of Corporate Affairs, Comptroller and Auditor General of India, the Central Board of Direct Taxes, the Central Board of Indirect Taxes and Customs, State Commercial Tax Departments etc. The Board may also review the reports of the enterprises relating to which serious irregularities in taxation matters (Direct and Indirect) have been highlighted by the media reports.
The Board may interact with Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC)/State Commercial Tax Department to seek the reports and /or other information of the enterprises from the CBDT as well as CBIC /State Commercial Tax Department.
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