Functions

In the Direct Tax Audit Wing, we audit different field formations of CBDT under the charge of Pr. Chief Commissioners of Income Tax/Chief Commissioners of Income Tax, Directors General of Income Tax, Pr. Directors of Income Tax/Directors of Income Tax viz. Assessment, Exemption, International Taxation and other attached offices/non-assessment charges in Karnataka and Goa.  The assessment charges are primarily involved in the tax assessments of different assesses and the non-assessment charges span from the normal administration to ancillary functions of tax collection, etc.  These non-assessment functions are Appeals, Tax Recovery, Investigation, IT systems, etc.

The office undertakes Performance Audit, Compliance Audit and Financial Audits.

Performance Audit: 

Performance audit is an independent assessment or examination of the extent to which an organisation, programme or scheme operates economically, efficiently and effectively.

Compliance Audit:

Compliance audit examines the transactions relating to expenditure, receipts, assets and liabilities of Government for compliance with:

1. The provisions of the Constitution of India and the applicable laws; and
2. The rules, regulations, orders and instructions issued by the competent authority either in pursuance of the provisions of the Constitution of India and the laws or by virtue of the powers formally delegated to it by a superior authority.

Compliance audit also includes an examination of the rules, regulations, orders and instructions for their legality, adequacy, transparency, propriety and prudence and effectiveness.

Financial Audit:

Financial attest audit is primarily concerned with expression of audit opinion on a set of financial statements. Financial attest audit is designed to reduce the possibility of material misstatement in a financial statement and, therefore, assure credibility to such statements.

Financial Attest Audit includes:

   1. Examination and evaluation of financial records and expression of opinion on financial statements.

   2. Audit of financial systems and transactions including an evaluation of compliance with applicable statues and regulations which affect the accuracy and completeness of  accounting records.

   3. Audit of internal control and internal audit functions that assist in safeguarding assets and resources and assure the accuracy and completeness of accounting records.