TAX AUDIT TECHNIQUES

Learn how to manage
your tax burden and prepare for tax audits

10 - 14 June 2024
Sandton Centre Johannesburg South Africa

Register Now! Limited Seats Available!

R17, 999.00 Per Delegate

Course overview:

Taxes are an unavoidable part of being in any kind of business. By understanding how to manage your tax burden and prepare for tax audits, you can maximise your profits over time and reduce the costs of not meeting your legally imposed tax obligations.

What does this “Tax Audit Professional” course entail? This course will teach you about in-depth Tax Audit, Tax Applicability, Tax Auditors, Letters, Tax Audit Procedures, Documentation, and Tax Audit Reports.

This course will empower you with knowledge in the different kinds of audits, from internal and independent audits to the tax audits that are initiated by the government, and reviews of key audit processes.

Course Objectives:

Upon completing this Tax Audit Course successfully, participants will be able to:

    • Learn the definitions of complex tax-related terminology
    • Gain a deeper understanding of why tax is levied and what it is used for
    • Study the concept of and steps for tax audit preparation
    • Identify scenarios in which tax reports and audits may be necessary
    • Describe the main goal of tax audits
    • Explore how the tax audit space will be impacted by technology
    • Identify the best time to prepare for tax audits
    • Recognise the idea of tax independence and apply it in a scenario
    • Identify the similarities and differences between tax audits and regular audits
    • Identify how not-for-profit tax audits and government tax audits differ from regular tax audits
    • Explore how to conduct an audit from its inception to taking corrective actions
    • Recognise the difference between tax audits and due diligence projects

Targeted Audience:

  • Tax Auditors
  • Legal counsel and lawyers
  • Taxpayers
  • Tax agents
  • Tax advisors
  • Tax advisers
  • General tax practitioners
  • Tax practitioners in advisory firms
  • Beginners in tax commercial and trade industries
  • Government officials
  • In-house tax directors/managers
  • Tax regulation bodies
  • Financial analysts

Course Outline:

MODULE 1: INTRODUCTION TO TAX AUDIT

    • Tax Audit Introduction
    • Applicability
    • Tax Applicability
    • Tax Auditor
    • Letters

MODULE 2: TAXES FOR SMALL BUSINESSES

    • How Taxes Affect the Economy
    • How Tax Policies Affect Your Business
    • Similarities and Difference Between Tax Audits & Due Diligence
    • Similarities and Difference Between Regular Audits & Tax Audits

MODULE 3: TAX STRATEGIES FOR BUSINESSES

    • Reducing Taxable Income
    • Reducing Tax Rate
    • Optimising the Workforce

MODULE 4: MANAGING TAXES

    • Responsibility vs. Accountability
    • Tax Planning Tools
    • Financial Statements
    • Earnings Management
    • Deferred Taxes

MODULE 5: IMPORTANT TAX PROCEDURES

    • Tax Audit Procedures
    • Documentation
    • Tax Audit Report
    • Form 3 CD

MODULE 6: INCOME TAX

    • Introduction to Income Tax
    • Exempt Income
    • Income Tax Slab
    • Residential Status
    • Income Under 5 Heads
    • Computation of Total Income
    • Advance Tax
    • Set-off and carryforwards of losses
    • E- Filing of Income tax returns
    • Generation of Challan & Payment of Taxes
    • Penalties Under Income Tax
    • Computation of Tax and Government Utilities

MODULE 7: AUDITING

    • The Role of Auditors
    • How to Prepare for Audits
    • Audit Checklists
    • Confidential Material
    • Establishing Internal Controls

MODULE 8: AUDITING

    • Concept & Objective of Auditing
    • Types of Audit
    • Evidence in Auditing
    • Audit Programmes
    • Internal Audit
    • Statutory Audit
    • Cost Audit
    • Secretarial Audit
    • Auditor’s Report

End of the workshop

IN HOUSE AND ONLINE TRAINING

While both In-House and Online training can present with cost-effectiveness and time-efficacy, there are some very specific differences between in-house courses and those based online.
The demand for additional courses by individuals or groups of people is increasing. Still, it depends entirely on the preferences of a person what type of training he or she wants to receive. Online courses and in-house training carry some similarities but they are considered to exhibit some very pivotal differences too. Despite that, both types of learning can be really beneficial for attendees.

For Registration and other Training arrangements,
contact us on the detail below.

SOUTH AFRICA : +27 11 057 6001
TANZANIA Cell: +255 769 688 544
WhatsApp +27 79 574 0389
info@bmktraining.co.za / www.bmktraining.com