Risk Based Audit Techniques

Source details

Target audience: Tax auditors and audit supervisors who are responsible for conducting audits of small, medium and large enterprises for tax administrations in the South Asia Region.
Qualifications: Participant should have worked in a tax audit role for at least two years and is therefore familiar with the basic tax audit process and also with the statutory and other financial records of taxpayers.
Pre-requisites: No pre-requisite course is required. However, participant should have experience of working in a tax audit role for at least two years.

Context: South Asia is a rapidly developing region. Tax administrations in the region are growing fast and working hard to develop capacity to keep pace with both policy and legislative changes and the growing sophistication of the taxpayer populations.
Rationale: Audit is used to ensure completeness of revenue, but audit cannot cover the entire taxpayer population; a risk-based approach is necessary to achieve better results with available resources.
Scope: The course will cover audit risk from a tax auditor's perspective and provide participants with a risk-based approach to be used when conducting tax audits.
Content areas:
- Components of audit risk.
- Risk-based audit techniques and procedures.
- Application of risk-based approaches in the planning and conducting stages of tax audits.
- Case studies and workshops to apply contemporary risk management and prioritization approaches.

Primary objective: Enable participants to better identify audit risk and to build and adapt audit processes around areas of risk.
Expected institutional impact:
- Contribute to the ability of national revenue authorities to conduct audit activities more efficiently in their respective countries.
- Increase revenue yield from audits.
Skills developed:
- Application of contemporary risk management approaches.
- Prioritization techniques for audit workload and resources.
- Practical use of case studies and workshops to translate theory into audit practice.